PNC Financial Services Group (PNC) FY2016 results: revenue $15.2 billion, down 0.4% on the year
PNC Financial Services Group, Inc. (PNC) reported revenue of $15.2 billion for fiscal 2016, the year ended 31 December 2016, down 0.4% on the year before. Net income was $3.7 billion, down 5.2%, and diluted earnings per share $7.30. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2017.
Revenue
$15.2 billion
-0.4% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$3.7 billion
-5.2% on the year
FY2009FY2016
Diluted EPS
$7.30
-1.2% 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
15,162
15,225
15,375
-0.4%
Interest expense
1,261
1,045
906
+20.7%
Pre-tax income
5,253
5,507
5,614
-4.6%
Income tax
1,268
1,364
1,407
-7.0%
Effective tax rate
24.1%
24.8%
25.1%
Net income
3,662
3,864
3,936
-5.2%
Net margin
24.2%
25.4%
25.6%
Diluted EPS
$7.30
$7.39
$7.30
-1.2%
$ 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
3,500
5,525
5,585
-36.7%
Cash from investing
-7,307
n/a
n/a
Cash from financing
4,621
10,440
n/a
-55.7%
Depreciation and amortisation
843
809
776
+4.2%
Share-based compensation
200
200
200
0.0%
Buybacks
2,062
2,152
1,176
-4.2%
Dividends paid
1,061
1,038
1,000
+2.2%
Dividend per share
$2.12
$2.01
n/a
+5.5%
Diluted shares, weighted
500m
521m
537m
-4.0%
Shares outstanding at period end
n/a
n/a
523m
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
45,699
44,710
44,551
+2.2%
Non-controlling interest
1,155
1,270
1,523
-9.1%
Deposits
257,164
249,002
232,234
+3.3%
Repurchase agreements
n/a
1,777
3,510
Debt
52,706
54,532
56,768
-3.3%
Other liabilities
9,656
7,202
6,486
+34.1%
Total liabilities and equity
366,380
358,493
345,072
+2.2%
Fixed assets
5,522
5,908
5,643
-6.5%
Goodwill
9,103
9,103
9,103
0.0%
Intangible assets
n/a
379
493
Securities held for sale or to maturity
15,843
14,768
n/a
+7.3%
Loans
208,244
203,969
201,486
+2.1%
Resale agreements
n/a
1,369
1,852
Trading assets
n/a
1,726
2,353
Other assets
127,668
121,271
124,142
+5.3%
Total assets
366,380
358,493
345,072
+2.2%
10-K for the year ended 31 December 2016, filed 28 February 2017: the filing.