Nasdaq (NDAQ) FY2016 results: revenue $3.7 billion, up 8.9% on the year
Nasdaq, Inc. (NDAQ) reported revenue of $3.7 billion for fiscal 2016, the year ended 31 December 2016, up 8.9% on the year before. Net income was $106 million, down 75.2%, and diluted earnings per share $0.21. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2017.
Revenue
$3.7 billion
+8.9% on the year
FY2009FY2016
Operating margin
22.6%
21.2% a year earlier
FY2009FY2016
Net income
$106 million
-75.2% on the year
FY2009FY2016
Diluted EPS
$0.21
-74.8% 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
3,705
3,403
3,500
+8.9%
Cost of revenue
1,428
1,313
1,433
+8.8%
Gross profit
2,277
2,090
2,067
+8.9%
Gross margin
61.5%
61.4%
59.1%
Operating income
836
720
754
+16.1%
Operating margin
22.6%
21.2%
21.5%
Interest expense
135
111
117
+21.6%
Pre-tax income
133
630
594
-78.9%
Income tax
27.0
203
181
-86.7%
Effective tax rate
20.3%
32.2%
30.5%
Net income
106
428
414
-75.2%
Net margin
2.9%
12.6%
11.8%
Diluted EPS
$0.21
$0.83
$0.80
-74.8%
$ 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
776
727
n/a
+6.7%
Capital expenditure
134
133
140
+0.8%
Free cash flow
642
594
n/a
+8.1%
Free cash flow margin
17.3%
17.5%
n/a
Cash from investing
-1,657
-435
n/a
Cash from financing
948
-400
n/a
Depreciation and amortisation
88.0
76.0
68.0
+15.8%
Share-based compensation
86.0
68.0
62.0
+26.5%
Buybacks
100
377
178
-73.5%
Dividends paid
200
149
98.0
+34.2%
Dividend per share
$0.40
$0.30
$0.19
+34.4%
Diluted shares, weighted
506m
514m
519m
-1.4%
Shares outstanding at period end
500m
493m
506m
+1.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,430
5,609
5,793
-3.2%
Non-controlling interest
n/a
n/a
1.0
Debt
3,603
2,364
2,313
+52.4%
Other liabilities
4,378
3,888
3,980
+12.6%
Total liabilities and equity
13,411
11,861
12,087
+13.1%
Fixed assets
362
323
292
+12.1%
Goodwill
6,027
5,395
5,538
+11.7%
Intangible assets
2,094
1,959
2,077
+6.9%
Investments
245
201
174
+21.9%
Trading assets
228
189
171
+20.6%
Cash and equivalents
403
301
427
+33.9%
Receivables
429
316
389
+35.8%
Other assets
3,623
3,177
3,019
+14.0%
Total assets
13,411
11,861
12,087
+13.1%
10-K for the year ended 31 December 2016, filed 1 March 2017: the filing.