Altria Group (MO) FY2017 results: revenue $25.6 billion, down 0.7% on the year
Altria Group, Inc. (MO) reported revenue of $25.6 billion for fiscal 2017, the year ended 31 December 2017, down 0.7% on the year before. Net income was $10.2 billion, down 28.2%, and diluted earnings per share $5.31. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$25.6 billion
-0.7% on the year
FY2010FY2017
Operating margin
37.5%
34.0% a year earlier
FY2010FY2017
Net income
$10.2 billion
-28.2% on the year
FY2010FY2017
Diluted EPS
$5.31
-27.1% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
25,576
25,744
25,434
-0.7%
Cost of revenue
7,531
7,765
7,740
-3.0%
Gross profit
11,951
11,591
11,114
+3.1%
Gross margin
46.7%
45.0%
43.7%
Research and development
241
203
186
+18.7%
Operating income
9,593
8,762
8,361
+9.5%
Operating margin
37.5%
34.0%
32.9%
Interest expense
736
754
808
-2.4%
Pre-tax income
9,828
21,852
8,078
-55.0%
Income tax
-399
7,608
2,835
Effective tax rate
-4.1%
34.8%
35.1%
Net income
10,222
14,239
5,241
-28.2%
Net margin
40.0%
55.3%
20.6%
Diluted EPS
$5.31
$7.28
$2.67
-27.1%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
4,901
3,826
5,843
+28.1%
Capital expenditure
199
189
229
+5.3%
Free cash flow
4,702
3,637
5,614
+29.3%
Free cash flow margin
18.4%
14.1%
22.1%
Cash from investing
-467
3,708
-15.0
Cash from financing
-7,771
-5,329
-6,780
Depreciation and amortisation
209
204
225
+2.5%
Buybacks
2,917
1,030
554
+183.2%
Dividends paid
4,807
4,512
4,179
+6.5%
Dividend per share
$2.54
$2.35
$2.17
+8.1%
Diluted shares, weighted
1,921m
1,952m
n/a
-1.6%
Shares outstanding at period end
1,901m
1,943m
1,960m
-2.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
15,377
12,770
2,880
+20.4%
Non-controlling interest
3.0
3.0
-7.0
0.0%
Redeemable equity
38.0
38.0
37.0
0.0%
Short-term borrowings
0.0
0.0
0.0
Debt
13,894
13,881
12,847
+0.1%
Other liabilities
13,890
19,240
15,702
-27.8%
Total liabilities and equity
43,202
45,932
31,459
-5.9%
Fixed assets
1,914
1,958
1,982
-2.2%
Goodwill
5,307
5,285
5,285
+0.4%
Intangible assets
12,400
12,036
12,028
+3.0%
Cash and equivalents
1,253
4,569
2,369
-72.6%
Receivables
142
151
124
-6.0%
Inventory
2,225
2,051
2,031
+8.5%
Other assets
19,961
19,882
7,640
+0.4%
Total assets
43,202
45,932
31,459
-5.9%
10-K for the year ended 31 December 2017, filed 26 February 2019: the filing.