Norfolk Southern (NSC) FY2016 results: revenue $9.9 billion, down 5.9% on the year
Norfolk Southern Corp. (NSC) reported revenue of $9.9 billion for fiscal 2016, the year ended 31 December 2016, down 5.9% on the year before. Net income was $1.7 billion, up 7.3%, and diluted earnings per share $5.62. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2017.
Revenue
$9.9 billion
-5.9% on the year
FY2009FY2016
Operating margin
30.4%
27.4% a year earlier
FY2009FY2016
Net income
$1.7 billion
+7.3% on the year
FY2009FY2016
Diluted EPS
$5.62
+10.2% 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
9,888
10,511
11,624
-5.9%
Operating income
3,009
2,884
3,575
+4.3%
Operating margin
30.4%
27.4%
30.8%
Interest expense
563
545
545
+3.3%
Pre-tax income
2,582
2,442
3,134
+5.7%
Income tax
914
886
1,134
+3.2%
Effective tax rate
35.4%
36.3%
36.2%
Net income
1,663
1,550
1,994
+7.3%
Net margin
16.8%
14.7%
17.2%
Diluted EPS
$5.62
$5.10
$6.39
+10.2%
$ 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
3,034
2,908
2,852
+4.3%
Capital expenditure
1,887
2,385
2,118
-20.9%
Free cash flow
1,147
523
734
+119.3%
Free cash flow margin
11.6%
5.0%
6.3%
Cash from investing
-1,832
n/a
-2,002
Cash from financing
-1,347
n/a
-1,320
Depreciation and amortisation
1,030
n/a
n/a
Share-based compensation
42.0
42.0
44.0
0.0%
Buybacks
803
1,075
318
-25.3%
Dividends paid
695
713
687
-2.5%
Dividend per share
$2.36
$2.36
$2.22
0.0%
Diluted shares, weighted
296m
304m
312m
-2.8%
Shares outstanding at period end
290m
298m
308m
-2.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
12,409
12,188
12,408
+1.8%
Debt
10,212
10,093
8,985
+1.2%
Other liabilities
12,271
11,858
11,848
+3.5%
Total liabilities and equity
34,892
34,139
33,241
+2.2%
Fixed assets
29,751
28,992
27,694
+2.6%
Investments
2,777
2,572
2,679
+8.0%
Cash and equivalents
956
1,101
973
-13.2%
Receivables
945
946
1,055
-0.1%
Other assets
463
528
840
-12.3%
Total assets
34,892
34,139
33,241
+2.2%
10-K for the year ended 31 December 2016, filed 6 February 2017: the filing.