Truist Financial (TFC) FY2016 results: revenue $10.8 billion, up 12.3% on the year
Truist Financial Corp. (TFC) reported revenue of $10.8 billion for fiscal 2016, the year ended 31 December 2016, up 12.3% on the year before. Net income was $2.3 billion, up 16.7%, and diluted earnings per share $2.77. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$10.8 billion
+12.3% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$2.3 billion
+16.7% on the year
FY2009FY2016
Diluted EPS
$2.77
+8.2% 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
10,793
9,611
9,230
+12.3%
Interest expense
745
735
768
+1.4%
Pre-tax income
3,500
2,917
3,127
+20.0%
Income tax
1,058
794
921
+33.2%
Effective tax rate
30.2%
27.2%
29.5%
Net income
2,259
1,936
1,983
+16.7%
Net margin
20.9%
20.1%
21.5%
Diluted EPS
$2.77
$2.56
$2.72
+8.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
3,115
3,131
3,210
-0.5%
Cash from investing
-976
-1,849
-4,015
Cash from financing
-1,882
104
965
Share-based compensation
115
106
102
+8.5%
Buybacks
520
0.0
n/a
Dividends paid
925
789
666
+17.2%
Dividend per share
$1.15
$1.05
$0.95
+9.5%
Diluted shares, weighted
815m
758m
728m
+7.5%
Shares outstanding at period end
809m
780m
721m
+3.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
29,926
27,340
24,377
+9.5%
Deposits
160,234
149,124
129,040
+7.5%
Debt
23,371
27,362
27,029
-14.6%
Other liabilities
5,745
6,121
6,368
-6.1%
Total liabilities and equity
219,276
209,947
186,814
+4.4%
Fixed assets
2,107
2,007
1,827
+5.0%
Goodwill
9,638
8,548
6,869
+12.8%
Intangible assets
854
686
505
+24.5%
Securities held for sale or to maturity
43,606
43,827
41,147
-0.5%
Loans
141,833
134,491
118,410
+5.5%
Resale agreements
144
153
157
-5.9%
Trading assets
748
1,180
482
-36.6%
Cash and equivalents
4,280
4,167
2,325
+2.7%
Other assets
16,066
14,888
15,092
+7.9%
Total assets
219,276
209,947
186,814
+4.4%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.