Meta Platforms (META) FY2016 results: revenue $27.6 billion, up 54.2% on the year
Meta Platforms, Inc. (META) reported revenue of $27.6 billion for fiscal 2016, the year ended 31 December 2016, up 54.2% on the year before. Net income was $10.2 billion, up 177.0%, and diluted earnings per share $3.49. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2017.
Revenue
$27.6 billion
+54.2% on the year
FY2010FY2016
Operating margin
45.0%
34.7% a year earlier
FY2010FY2016
Net income
$10.2 billion
+177.0% on the year
FY2010FY2016
Diluted EPS
$3.49
+170.5% on the year
FY2010FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
27,638
17,928
12,466
+54.2%
Cost of revenue
3,789
2,867
2,153
+32.2%
Gross profit
23,849
15,061
10,313
+58.3%
Gross margin
86.3%
84.0%
82.7%
Research and development
5,919
4,816
2,666
+22.9%
Operating income
12,427
6,225
4,994
+99.6%
Operating margin
45.0%
34.7%
40.1%
Interest expense
10.0
23.0
23.0
-56.5%
Pre-tax income
12,518
6,194
4,910
+102.1%
Income tax
2,301
2,506
1,970
-8.2%
Effective tax rate
18.4%
40.5%
40.1%
Net income
10,217
3,688
2,940
+177.0%
Net margin
37.0%
20.6%
23.6%
Diluted EPS
$3.49
$1.29
$1.10
+170.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
16,108
10,320
7,326
+56.1%
Capital expenditure
4,491
2,523
1,831
+78.0%
Free cash flow
11,617
7,797
5,495
+49.0%
Free cash flow margin
42.0%
43.5%
44.1%
Cash from investing
-11,792
-9,434
-5,913
Cash from financing
-310
-139
-298
Depreciation and amortisation
2,342
1,945
1,243
+20.4%
Share-based compensation
3,218
2,960
1,786
+8.7%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
2,925m
2,853m
2,664m
+2.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
59,194
44,218
36,096
+33.9%
Other liabilities
5,767
5,189
3,870
+11.1%
Total liabilities and equity
64,961
49,407
39,966
+31.5%
Fixed assets
8,591
5,687
3,967
+51.1%
Goodwill
18,122
18,026
17,981
+0.5%
Intangible assets
2,535
3,246
3,929
-21.9%
Investments
20,546
13,527
6,884
+51.9%
Cash and equivalents
8,903
4,907
4,315
+81.4%
Receivables
3,993
2,559
1,678
+56.0%
Other assets
2,271
1,455
1,212
+56.1%
Total assets
64,961
49,407
39,966
+31.5%
10-K for the year ended 31 December 2016, filed 3 February 2017: the filing.