Primerica (PRI) FY2017 results: revenue $1.7 billion, up 11.2% on the year
Primerica, Inc. (PRI) reported revenue of $1.7 billion for fiscal 2017, the year ended 31 December 2017, up 11.2% on the year before. Net income was $350 million, up 59.6%, and diluted earnings per share $7.61. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$1.7 billion
+11.2% on the year
FY2010FY2017
Operating margin
22.5%
22.2% a year earlier
FY2010FY2017
Net income
$350 million
+59.6% on the year
FY2010FY2017
Diluted EPS
$7.61
+65.8% 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
1,689
1,519
1,405
+11.2%
Operating income
380
338
291
+12.4%
Operating margin
22.5%
22.2%
20.7%
Interest expense
28.5
28.7
33.5
-0.7%
Pre-tax income
380
338
291
+12.4%
Income tax
29.3
118
101
-75.2%
Effective tax rate
7.7%
35.0%
34.7%
Net income
350
219
190
+59.6%
Net margin
20.7%
14.4%
13.5%
Diluted EPS
$7.61
$4.59
$3.70
+65.8%
$ 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
392
294
259
+33.0%
Cash from investing
-131
-47.9
-58.5
Cash from financing
-193
-187
-235
Depreciation and amortisation
13.6
14.6
11.0
-7.2%
Share-based compensation
15.3
13.4
14.9
+13.6%
Buybacks
150
150
200
-0.0%
Dividends paid
35.8
33.4
32.8
+7.4%
Dividend per share
$0.78
$0.70
$0.64
+11.4%
Diluted shares, weighted
46m
47m
51m
-3.7%
Shares outstanding at period end
44m
46m
48m
-3.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,419
1,221
1,146
+16.2%
Debt
373
373
373
+0.1%
Other liabilities
10,668
9,845
9,094
+8.4%
Total liabilities and equity
12,461
11,439
10,612
+8.9%
Fixed assets
28.1
27.5
29.4
+2.3%
Intangible assets
51.5
54.9
58.3
-6.2%
Securities held for sale or to maturity
2,665
2,296
2,097
+16.1%
Trading assets
6.2
7.4
5.4
-15.6%
Cash and equivalents
280
212
152
+32.1%
Other assets
9,430
8,842
8,270
+6.7%
Total assets
12,461
11,439
10,612
+8.9%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.