Travelers Companies (TRV) FY2015 results: revenue $26.8 billion, down 1.3% on the year
Travelers Companies, Inc. (TRV) reported revenue of $26.8 billion for fiscal 2015, the year ended 31 December 2015, down 1.3% on the year before. Net income was $3.4 billion, down 6.9%, and diluted earnings per share $10.88. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2016.
Revenue
$26.8 billion
-1.3% on the year
FY2008FY2015
Operating margin
17.7%
13.4% a year earlier
FY2008FY2015
Net income
$3.4 billion
-6.9% on the year
FY2008FY2015
Diluted EPS
$10.88
+1.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
26,800
27,162
26,191
-1.3%
Selling, general and administrative
4,094
3,964
3,757
+3.3%
Operating income
4,740
3,641
3,567
+30.2%
Operating margin
17.7%
13.4%
13.6%
Interest expense
373
369
361
+1.1%
Pre-tax income
4,740
5,089
4,945
-6.9%
Income tax
1,301
1,397
1,272
-6.9%
Effective tax rate
27.4%
27.5%
25.7%
Net income
3,439
3,692
3,673
-6.9%
Net margin
12.8%
13.6%
14.0%
Diluted EPS
$10.88
$10.70
$9.74
+1.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
3,434
3,693
3,816
-7.0%
Cash from investing
317
n/a
n/a
Cash from financing
-3,733
n/a
n/a
Depreciation and amortisation
818
n/a
n/a
Share-based compensation
141
138
129
+2.2%
Buybacks
3,150
3,275
2,400
-3.8%
Dividends paid
739
729
729
+1.4%
Dividend per share
$2.38
$2.15
$1.96
+10.7%
Diluted shares, weighted
314m
342m
374m
-8.4%
Shares outstanding at period end
296m
322m
354m
-8.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
23,598
24,836
24,796
-5.0%
Debt
6,344
6,361
6,361
-0.3%
Other liabilities
70,242
71,881
72,655
-2.3%
Total liabilities and equity
100,184
103,078
103,812
-2.8%
Goodwill
3,573
3,611
3,634
-1.1%
Intangible assets
279
304
351
-8.2%
Securities held for sale or to maturity
60,658
63,474
63,956
-4.4%
Cash and equivalents
380
374
294
+1.6%
Other assets
35,294
35,315
35,577
-0.1%
Total assets
100,184
103,078
103,812
-2.8%
10-K for the year ended 31 December 2015, filed 11 February 2016: the filing.