Altria Group (MO) FY2016 results: revenue $25.7 billion, up 1.2% on the year
Altria Group, Inc. (MO) reported revenue of $25.7 billion for fiscal 2016, the year ended 31 December 2016, up 1.2% on the year before. Net income was $14.2 billion, up 171.7%, and diluted earnings per share $7.28. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$25.7 billion
+1.2% on the year
FY2009FY2016
Operating margin
34.0%
32.9% a year earlier
FY2009FY2016
Net income
$14.2 billion
+171.7% on the year
FY2009FY2016
Diluted EPS
$7.28
+172.7% on the year
FY2009FY2016
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
25,744
25,434
24,522
+1.2%
Cost of revenue
7,765
7,740
7,785
+0.3%
Gross profit
11,591
11,114
10,160
+4.3%
Gross margin
45.0%
43.7%
41.4%
Research and development
203
186
167
+9.1%
Operating income
8,762
8,361
7,620
+4.8%
Operating margin
34.0%
32.9%
31.1%
Interest expense
754
808
857
-6.7%
Pre-tax income
21,852
8,078
7,774
+170.5%
Income tax
7,608
2,835
2,704
+168.4%
Effective tax rate
34.8%
35.1%
34.8%
Net income
14,239
5,241
5,070
+171.7%
Net margin
55.3%
20.6%
20.7%
Diluted EPS
$7.28
$2.67
$2.56
+172.7%
$ 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
3,826
5,843
4,663
-34.5%
Capital expenditure
189
229
163
-17.5%
Free cash flow
3,637
5,614
4,500
-35.2%
Free cash flow margin
14.1%
22.1%
18.4%
Cash from investing
3,708
-15.0
177
Cash from financing
-5,329
-6,780
-4,694
Depreciation and amortisation
204
225
208
-9.3%
Buybacks
1,030
554
939
+85.9%
Dividends paid
4,512
4,179
3,892
+8.0%
Dividend per share
$2.35
$2.17
$2.00
+8.3%
Diluted shares, weighted
1,952m
n/a
n/a
Shares outstanding at period end
1,943m
1,960m
1,971m
-0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
12,770
2,880
3,014
+343.4%
Non-controlling interest
3.0
-7.0
-4.0
Redeemable equity
38.0
37.0
35.0
+2.7%
Short-term borrowings
0.0
0.0
0.0
Debt
13,881
12,847
14,693
+8.0%
Other liabilities
19,240
15,702
16,737
+22.5%
Total liabilities and equity
45,932
31,459
34,475
+46.0%
Fixed assets
1,958
1,982
1,983
-1.2%
Goodwill
5,285
5,285
5,285
0.0%
Intangible assets
12,036
12,028
12,049
+0.1%
Cash and equivalents
4,569
2,369
3,321
+92.9%
Receivables
151
124
124
+21.8%
Inventory
2,051
2,031
2,040
+1.0%
Other assets
19,882
7,640
9,673
+160.2%
Total assets
45,932
31,459
34,475
+46.0%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.