Sabre (SABR) FY2016 results: revenue $3.4 billion, up 13.9% on the year
Sabre Corp. (SABR) reported revenue of $3.4 billion for fiscal 2016, the year ended 31 December 2016, up 13.9% on the year before. Net income was $243 million, down 55.5%, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$3.4 billion
+13.9% on the year
FY2012FY2016
Operating margin
13.6%
15.5% a year earlier
FY2012FY2016
Net income
$243 million
-55.5% on the year
FY2012FY2016
Diluted EPS
$0.86
-55.9% on the year
FY2012FY2016
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
3,373
2,961
2,631
+13.9%
Cost of revenue
2,288
1,944
1,742
+17.7%
Gross profit
1,086
1,017
889
+6.8%
Gross margin
32.2%
34.3%
33.8%
Selling, general and administrative
626
557
468
+12.4%
Operating income
460
460
421
-0.0%
Operating margin
13.6%
15.5%
16.0%
Interest expense
158
173
219
-8.7%
Pre-tax income
328
354
117
-7.3%
Income tax
86.6
119
6.3
-27.4%
Effective tax rate
26.4%
33.7%
5.4%
Net income
243
545
69.2
-55.5%
Net margin
7.2%
18.4%
2.6%
Diluted EPS
$0.86
$1.95
$0.23
-55.9%
$ 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
680
529
182
+28.4%
Capital expenditure
328
287
227
+14.3%
Free cash flow
352
243
-45.6
+45.1%
Free cash flow margin
10.4%
8.2%
-1.7%
Cash from investing
-446
n/a
n/a
Cash from financing
-190
n/a
n/a
Depreciation and amortisation
233
214
158
+9.3%
Share-based compensation
48.5
30.0
20.1
+61.9%
Buybacks
100
98.8
0.0
+1.2%
Dividends paid
144
98.6
47.9
+46.4%
Dividend per share
$0.13
$0.09
n/a
+44.4%
Diluted shares, weighted
283m
280m
247m
+1.0%
Shares outstanding at period end
277m
275m
268m
+0.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
626
484
84.4
+29.2%
Debt
3,478
3,396
3,097
+2.4%
Other liabilities
1,620
1,514
1,462
+7.0%
Total liabilities and equity
5,725
5,394
4,643
+6.1%
Fixed assets
753
628
551
+20.0%
Goodwill
2,548
2,440
2,153
+4.4%
Intangible assets
775
837
480
-7.3%
Cash and equivalents
364
321
156
+13.4%
Receivables
401
376
363
+6.6%
Other assets
883
792
940
+11.4%
Total assets
5,725
5,394
4,643
+6.1%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.