Primerica (PRI) FY2016 results: revenue $1.5 billion, up 8.1% on the year
Primerica, Inc. (PRI) reported revenue of $1.5 billion for fiscal 2016, the year ended 31 December 2016, up 8.1% on the year before. Net income was $219 million, up 15.6%, and diluted earnings per share $4.59. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$1.5 billion
+8.1% on the year
FY2009FY2016
Operating margin
22.2%
20.7% a year earlier
FY2009FY2016
Net income
$219 million
+15.6% on the year
FY2009FY2016
Diluted EPS
$4.59
+24.1% 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
1,519
1,405
1,337
+8.1%
Operating income
338
291
276
+16.0%
Operating margin
22.2%
20.7%
20.6%
Interest expense
28.7
33.5
34.6
-14.4%
Pre-tax income
338
291
276
+16.0%
Income tax
118
101
95.9
+16.9%
Effective tax rate
35.0%
34.7%
34.8%
Net income
219
190
181
+15.6%
Net margin
14.4%
13.5%
13.6%
Diluted EPS
$4.59
$3.70
$3.29
+24.1%
$ 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
294
259
238
+13.6%
Cash from investing
-47.9
-58.5
-15.6
Cash from financing
-187
-235
-176
Depreciation and amortisation
14.6
11.0
12.3
+32.7%
Share-based compensation
13.4
14.9
18.0
-10.0%
Buybacks
150
200
148
-25.0%
Dividends paid
33.4
32.8
26.5
+1.7%
Dividend per share
$0.70
$0.64
$0.48
+9.4%
Diluted shares, weighted
47m
51m
55m
-6.8%
Shares outstanding at period end
46m
48m
52m
-5.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,221
1,146
1,245
+6.6%
Debt
373
373
375
+0.1%
Other liabilities
9,845
9,094
9,118
+8.3%
Total liabilities and equity
11,439
10,612
10,738
+7.8%
Fixed assets
27.5
29.4
26.5
-6.6%
Intangible assets
54.9
58.3
61.7
-5.8%
Securities held for sale or to maturity
2,296
2,097
1,979
+9.5%
Trading assets
7.4
5.4
7.7
+37.8%
Cash and equivalents
212
152
192
+39.2%
Other assets
8,842
8,270
8,471
+6.9%
Total assets
11,439
10,612
10,738
+7.8%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.