Truist Financial (TFC) FY2017 results: revenue $11.3 billion, up 4.9% on the year
Truist Financial Corp. (TFC) reported revenue of $11.3 billion for fiscal 2017, the year ended 31 December 2017, up 4.9% on the year before. Net income was $2.2 billion, down 1.7%, and diluted earnings per share $2.74. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2018.
Revenue
$11.3 billion
+4.9% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$2.2 billion
-1.7% on the year
FY2010FY2017
Diluted EPS
$2.74
-1.1% 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
11,317
10,793
9,611
+4.9%
Interest expense
839
745
735
+12.6%
Pre-tax income
3,326
3,500
2,917
-5.0%
Income tax
911
1,058
794
-13.9%
Effective tax rate
27.4%
30.2%
27.2%
Net income
2,220
2,259
1,936
-1.7%
Net margin
19.6%
20.9%
20.1%
Diluted EPS
$2.74
$2.77
$2.56
-1.1%
$ 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
4,635
3,115
3,131
+48.8%
Cash from investing
-5,410
-976
-1,849
Cash from financing
-549
-1,882
104
Share-based compensation
132
115
106
+14.8%
Buybacks
1,613
520
0.0
+210.2%
Dividends paid
1,005
925
789
+8.6%
Dividend per share
$1.26
$1.15
$1.05
+9.6%
Diluted shares, weighted
811m
815m
758m
-0.5%
Shares outstanding at period end
782m
809m
780m
-3.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
29,695
29,926
27,340
-0.8%
Deposits
157,371
160,234
149,124
-1.8%
Debt
28,586
23,371
27,362
+22.3%
Other liabilities
5,990
5,745
6,121
+4.3%
Total liabilities and equity
221,642
219,276
209,947
+1.1%
Fixed assets
2,055
2,107
2,007
-2.5%
Goodwill
9,618
9,638
8,548
-0.2%
Intangible assets
711
854
686
-16.7%
Securities held for sale or to maturity
47,574
43,606
43,827
+9.1%
Loans
142,211
141,833
134,491
+0.3%
Resale agreements
n/a
144
153
Trading assets
633
748
1,180
-15.4%
Cash and equivalents
2,956
4,280
4,167
-30.9%
Other assets
15,884
16,066
14,888
-1.1%
Total assets
221,642
219,276
209,947
+1.1%
10-K for the year ended 31 December 2017, filed 21 February 2018: the filing.