T. Rowe Price Group (TROW) FY2016 results: revenue $4.3 billion, up 2.0% on the year
T. Rowe Price Group, Inc. (TROW) reported revenue of $4.3 billion for fiscal 2016, the year ended 31 December 2016, up 2.0% on the year before. Net income was $1.2 billion, down 0.7%, and diluted earnings per share $4.75. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$4.3 billion
+2.0% on the year
FY2009FY2016
Operating margin
40.5%
45.2% a year earlier
FY2009FY2016
Net income
$1.2 billion
-0.7% on the year
FY2009FY2016
Diluted EPS
$4.75
+2.6% 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
4,285
4,201
3,982
+2.0%
Operating income
1,733
1,899
1,891
-8.7%
Operating margin
40.5%
45.2%
47.5%
Pre-tax income
1,960
2,002
2,003
-2.1%
Income tax
706
779
774
-9.4%
Effective tax rate
36.0%
38.9%
38.6%
Net income
1,215
1,223
1,230
-0.7%
Net margin
28.4%
29.1%
30.9%
Diluted EPS
$4.75
$4.63
$4.55
+2.6%
$ 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
170
1,530
1,344
-88.9%
Capital expenditure
148
151
126
-2.0%
Free cash flow
22.2
1,379
1,218
-98.4%
Free cash flow margin
0.5%
32.8%
30.6%
Cash from investing
106
109
-443
-2.6%
Cash from financing
-176
-1,973
-792
Share-based compensation
162
149
133
+8.5%
Buybacks
677
988
416
-31.5%
Dividends paid
541
1,059
462
-48.9%
Dividend per share
$2.16
n/a
n/a
Diluted shares, weighted
250m
261m
267m
-4.1%
Shares outstanding at period end
245m
250m
261m
-2.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,009
4,762
5,395
+5.2%
Redeemable equity
687
673
0.0
+2.2%
Debt
0.0
0.0
0.0
Other liabilities
529
n/a
249
Total liabilities and equity
6,225
5,107
5,644
+21.9%
Fixed assets
615
607
586
+1.3%
Goodwill
666
666
n/a
0.0%
Securities held for sale or to maturity
1.0
1.0
1.0
0.0%
Trading assets
75.4
25.8
n/a
+192.2%
Cash and equivalents
1,205
1,172
1,506
+2.8%
Other assets
3,663
2,635
3,551
+39.0%
Total assets
6,225
5,107
5,644
+21.9%
10-K for the year ended 31 December 2016, filed 13 February 2019: the filing.