T. Rowe Price Group (TROW) FY2017 results: revenue $4.9 billion, up 13.3% on the year
T. Rowe Price Group, Inc. (TROW) reported revenue of $4.9 billion for fiscal 2017, the year ended 31 December 2017, up 13.3% on the year before. Net income was $1.5 billion, up 23.3%, and diluted earnings per share $5.97. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$4.9 billion
+13.3% on the year
FY2010FY2017
Operating margin
43.4%
40.5% a year earlier
FY2010FY2017
Net income
$1.5 billion
+23.3% on the year
FY2010FY2017
Diluted EPS
$5.97
+25.7% 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
4,855
4,285
4,201
+13.3%
Operating income
2,109
1,733
1,899
+21.7%
Operating margin
43.4%
40.5%
45.2%
Pre-tax income
2,505
1,960
2,002
+27.8%
Income tax
924
706
779
+30.8%
Effective tax rate
36.9%
36.0%
38.9%
Net income
1,498
1,215
1,223
+23.3%
Net margin
30.9%
28.4%
29.1%
Diluted EPS
$5.97
$4.75
$4.63
+25.7%
$ 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
230
170
1,530
+34.6%
Capital expenditure
186
148
151
+25.5%
Free cash flow
43.4
22.2
1,379
+95.5%
Free cash flow margin
0.9%
0.5%
32.8%
Cash from investing
39.0
106
109
-63.3%
Cash from financing
462
-176
-1,973
Share-based compensation
152
162
149
-5.9%
Buybacks
458
677
988
-32.3%
Dividends paid
563
541
1,059
+4.1%
Dividend per share
$2.28
$2.16
n/a
+5.6%
Diluted shares, weighted
245m
250m
261m
-2.1%
Shares outstanding at period end
245m
245m
250m
+0.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,824
5,009
4,762
+16.3%
Redeemable equity
993
687
673
+44.5%
Debt
0.0
0.0
0.0
Other liabilities
718
529
n/a
+35.6%
Total liabilities and equity
7,535
6,225
5,107
+21.0%
Fixed assets
652
615
607
+6.0%
Goodwill
666
666
666
0.0%
Securities held for sale or to maturity
1.0
1.0
1.0
0.0%
Trading assets
n/a
75.4
25.8
Cash and equivalents
1,903
1,205
1,172
+57.9%
Other assets
4,313
3,663
2,635
+17.8%
Total assets
7,535
6,225
5,107
+21.0%
10-K for the year ended 31 December 2017, filed 13 February 2019: the filing.