AT&T (T) FY2016 results: revenue $163.8 billion, up 11.6% on the year
AT&T Inc. (T) reported revenue of $163.8 billion for fiscal 2016, the year ended 31 December 2016, up 11.6% on the year before. Net income was $13.0 billion, down 2.8%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$163.8 billion
+11.6% on the year
FY2009FY2016
Operating margin
14.4%
13.9% a year earlier
FY2009FY2016
Net income
$13.0 billion
-2.8% on the year
FY2009FY2016
Diluted EPS
$2.10
-11.4% 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
163,786
146,801
132,447
+11.6%
Cost of revenue
n/a
n/a
60,611
Gross profit
n/a
n/a
71,836
Gross margin
n/a
n/a
54.2%
Selling, general and administrative
36,845
35,706
39,697
+3.2%
Operating income
23,543
20,362
12,212
+15.6%
Operating margin
14.4%
13.9%
9.2%
Interest expense
4,910
4,120
3,613
+19.2%
Pre-tax income
19,812
20,692
10,355
-4.3%
Income tax
6,479
7,005
3,619
-7.5%
Effective tax rate
32.7%
33.9%
34.9%
Net income
12,976
13,345
6,442
-2.8%
Net margin
7.9%
9.1%
4.9%
Diluted EPS
$2.10
$2.37
$1.24
-11.4%
$ 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
38,442
35,174
31,338
+9.3%
Capital expenditure
21,516
19,218
21,199
+12.0%
Free cash flow
16,926
15,956
10,139
+6.1%
Free cash flow margin
10.3%
10.9%
7.7%
Cash from investing
-23,318
-48,424
-18,337
Cash from financing
-14,462
9,782
-7,737
Depreciation and amortisation
25,847
22,016
18,273
+17.4%
Share-based compensation
653
451
318
+44.8%
Buybacks
512
269
1,617
+90.3%
Dividends paid
11,797
10,200
9,552
+15.7%
Dividend per share
$1.93
$1.89
$1.85
+2.1%
Diluted shares, weighted
6,189m
5,646m
5,221m
+9.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
124,110
123,640
90,270
+0.4%
Debt
123,513
126,151
81,834
-2.1%
Other liabilities
156,198
152,881
124,730
+2.2%
Total liabilities and equity
403,821
402,672
296,834
+0.3%
Fixed assets
124,899
124,450
112,898
+0.4%
Goodwill
105,207
104,568
69,692
+0.6%
Investments
n/a
n/a
1,890
Cash and equivalents
5,788
5,121
8,603
+13.0%
Receivables
16,794
16,532
14,527
+1.6%
Inventory
2,039
4,033
1,933
-49.4%
Other assets
149,094
147,968
87,291
+0.8%
Total assets
403,821
402,672
296,834
+0.3%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.