New York Times (NYT) FY2016 results: revenue $1.6 billion, down 1.5% on the year
New York Times Co. (NYT) reported revenue of $1.6 billion for fiscal 2016, the year ended 25 December 2016, down 1.5% on the year before. Net income was $29 million, down 54.0%, and diluted earnings per share $0.18. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$1.6 billion
-1.5% on the year
FY2009FY2016
Operating margin
7.2%
8.6% a year earlier
FY2009FY2016
Net income
$29 million
-54.0% on the year
FY2009FY2016
Diluted EPS
$0.18
-52.6% 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
1,555
1,579
1,589
-1.5%
Cost of revenue
628
618
644
+1.7%
Gross profit
927
961
945
-3.6%
Gross margin
59.6%
60.9%
59.5%
Selling, general and administrative
728
714
761
+2.0%
Operating income
113
137
91.9
-17.5%
Operating margin
7.2%
8.6%
5.8%
Pre-tax income
30.5
96.8
29.9
-68.4%
Income tax
4.4
33.9
-3.5
-87.0%
Effective tax rate
14.5%
35.0%
-11.9%
Net income
29.1
63.2
33.3
-54.0%
Net margin
1.9%
4.0%
2.1%
Diluted EPS
$0.18
$0.38
$0.20
-52.6%
$ 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
104
179
80.5
-42.0%
Capital expenditure
30.1
27.0
35.4
+11.6%
Free cash flow
73.8
152
45.1
-51.5%
Free cash flow margin
4.7%
9.6%
2.8%
Cash from investing
124
-30.7
-325
Cash from financing
-237
-218
-61.4
Depreciation and amortisation
61.7
61.6
79.5
+0.2%
Share-based compensation
12.4
10.6
8.9
+17.4%
Buybacks
15.7
69.3
0.0
-77.4%
Dividends paid
25.9
26.6
24.9
-2.6%
Dividend per share
$0.16
$0.16
$0.16
0.0%
Diluted shares, weighted
163m
166m
161m
-2.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
848
827
726
+2.5%
Non-controlling interest
-3.6
1.7
2.0
Debt
240
424
643
-43.4%
Other liabilities
1,101
1,165
1,195
-5.5%
Total liabilities and equity
2,185
2,418
2,566
-9.6%
Fixed assets
597
632
666
-5.6%
Goodwill
135
109
116
+23.3%
Intangible assets
n/a
0.0
n/a
Investments
637
799
805
-20.3%
Cash and equivalents
101
106
177
-4.8%
Receivables
197
207
213
-4.7%
Other assets
519
564
590
-8.0%
Total assets
2,185
2,418
2,566
-9.6%
10-K for the year ended 25 December 2016, filed 22 February 2017: the filing.