S&P Global (SPGI) FY2017 results: revenue $6.1 billion, up 7.1% on the year
S&P Global Inc. (SPGI) reported revenue of $6.1 billion for fiscal 2017, the year ended 31 December 2017, up 7.1% on the year before. Net income was $1.5 billion, down 29.0%, and diluted earnings per share $5.78. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2018.
Revenue
$6.1 billion
+7.1% on the year
FY2010FY2017
Operating margin
42.6%
59.0% a year earlier
FY2010FY2017
Net income
$1.5 billion
-29.0% on the year
FY2010FY2017
Diluted EPS
$5.78
-27.2% 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
6,063
5,661
5,313
+7.1%
Cost of revenue
1,694
1,773
1,718
-4.5%
Gross profit
4,369
3,888
3,595
+12.4%
Gross margin
72.1%
68.7%
67.7%
Selling, general and administrative
1,606
1,467
1,532
+9.5%
Operating income
2,583
3,341
1,917
-22.7%
Operating margin
42.6%
59.0%
36.1%
Interest expense
149
181
102
-17.7%
Pre-tax income
2,461
3,188
1,815
-22.8%
Income tax
823
960
547
-14.3%
Effective tax rate
33.4%
30.1%
30.1%
Net income
1,496
2,106
1,156
-29.0%
Net margin
24.7%
37.2%
21.8%
Diluted EPS
$5.78
$7.94
$4.21
-27.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,016
1,560
356
+29.2%
Capital expenditure
123
115
139
+7.0%
Free cash flow
1,893
1,445
217
+31.0%
Free cash flow margin
31.2%
25.5%
4.1%
Cash from investing
-209
1,171
-2,525
Cash from financing
-1,507
-1,662
1,349
Depreciation and amortisation
180
181
157
-0.6%
Share-based compensation
99.0
76.0
78.0
+30.3%
Buybacks
1,001
1,123
974
-10.9%
Dividends paid
421
380
363
+10.8%
Dividend per share
$1.64
$1.44
$1.32
+13.9%
Diluted shares, weighted
259m
265m
275m
-2.4%
Shares outstanding at period end
254m
258m
265m
-1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
709
650
194
+9.1%
Non-controlling interest
57.0
51.0
49.0
+11.8%
Redeemable equity
1,350
1,080
920
+25.0%
Debt
3,569
3,564
3,611
+0.1%
Other liabilities
3,740
3,324
3,409
+12.5%
Total liabilities and equity
9,425
8,669
8,183
+8.7%
Fixed assets
275
271
270
+1.5%
Goodwill
2,989
2,949
2,882
+1.4%
Intangible assets
1,388
1,506
1,522
-7.8%
Investments
12.0
8.0
6.0
+50.0%
Cash and equivalents
2,779
2,392
1,481
+16.2%
Receivables
1,319
1,122
991
+17.6%
Other assets
663
421
1,031
+57.5%
Total assets
9,425
8,669
8,183
+8.7%
10-K for the year ended 31 December 2017, filed 9 February 2018: the filing.