Nasdaq (NDAQ) FY2017 results: revenue $3.9 billion, up 6.6% on the year
Nasdaq, Inc. (NDAQ) reported revenue of $3.9 billion for fiscal 2017, the year ended 31 December 2017, up 6.6% on the year before. Net income was $729 million, up 587.7%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$3.9 billion
+6.6% on the year
FY2010FY2017
Operating margin
25.1%
22.6% a year earlier
FY2010FY2017
Net income
$729 million
+587.7% on the year
FY2010FY2017
Diluted EPS
$1.43
+582.5% 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
3,948
3,705
3,403
+6.6%
Cost of revenue
1,537
1,428
1,313
+7.6%
Gross profit
2,411
2,277
2,090
+5.9%
Gross margin
61.1%
61.5%
61.4%
Operating income
991
836
720
+18.5%
Operating margin
25.1%
22.6%
21.2%
Interest expense
143
135
111
+5.9%
Pre-tax income
872
133
630
+555.6%
Income tax
143
27.0
203
+429.6%
Effective tax rate
16.4%
20.3%
32.2%
Net income
729
106
428
+587.7%
Net margin
18.5%
2.9%
12.6%
Diluted EPS
$1.43
$0.21
$0.83
+582.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
909
776
727
+17.1%
Capital expenditure
144
134
133
+7.5%
Free cash flow
765
642
594
+19.2%
Free cash flow margin
19.4%
17.3%
17.5%
Cash from investing
-890
-1,657
-435
Cash from financing
-53.0
948
-400
Depreciation and amortisation
96.0
88.0
76.0
+9.1%
Share-based compensation
70.0
86.0
68.0
-18.6%
Buybacks
203
100
377
+103.0%
Dividends paid
243
200
149
+21.5%
Dividend per share
$0.49
$0.40
$0.30
+20.7%
Diluted shares, weighted
509m
506m
514m
+0.5%
Shares outstanding at period end
502m
500m
493m
+0.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,887
5,430
5,609
+8.4%
Debt
4,207
3,603
2,364
+16.8%
Other liabilities
5,260
4,378
3,888
+20.1%
Total liabilities and equity
15,354
13,411
11,861
+14.5%
Fixed assets
400
362
323
+10.5%
Goodwill
6,586
6,027
5,395
+9.3%
Intangible assets
2,468
2,094
1,959
+17.9%
Investments
235
245
201
-4.1%
Trading assets
221
228
189
-3.1%
Cash and equivalents
377
403
301
-6.5%
Receivables
356
429
316
-17.0%
Other assets
4,711
3,623
3,177
+30.0%
Total assets
15,354
13,411
11,861
+14.5%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.