Travelers Companies (TRV) FY2016 results: revenue $27.6 billion, up 3.1% on the year
Travelers Companies, Inc. (TRV) reported revenue of $27.6 billion for fiscal 2016, the year ended 31 December 2016, up 3.1% on the year before. Net income was $3.0 billion, down 12.4%, and diluted earnings per share $10.28. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2017.
Revenue
$27.6 billion
+3.1% on the year
FY2009FY2016
Operating margin
14.7%
17.7% a year earlier
FY2009FY2016
Net income
$3.0 billion
-12.4% on the year
FY2009FY2016
Diluted EPS
$10.28
-5.5% 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
27,625
26,800
27,162
+3.1%
Selling, general and administrative
4,154
4,094
3,964
+1.5%
Operating income
4,053
4,740
3,641
-14.5%
Operating margin
14.7%
17.7%
13.4%
Interest expense
363
373
369
-2.7%
Pre-tax income
4,053
4,740
5,089
-14.5%
Income tax
1,039
1,301
1,397
-20.1%
Effective tax rate
25.6%
27.4%
27.5%
Net income
3,014
3,439
3,692
-12.4%
Net margin
10.9%
12.8%
13.6%
Diluted EPS
$10.28
$10.88
$10.70
-5.5%
$ 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
4,469
3,434
3,693
+30.1%
Cash from investing
-1,727
317
n/a
Cash from financing
-2,806
-3,733
n/a
Depreciation and amortisation
826
818
n/a
+1.0%
Share-based compensation
155
141
138
+9.9%
Buybacks
2,400
3,150
3,275
-23.8%
Dividends paid
757
739
729
+2.4%
Dividend per share
$2.62
$2.38
$2.15
+10.1%
Diluted shares, weighted
291m
314m
342m
-7.3%
Shares outstanding at period end
280m
296m
322m
-5.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
23,221
23,598
24,836
-1.6%
Debt
6,437
6,344
6,361
+1.5%
Other liabilities
70,587
70,242
71,881
+0.5%
Total liabilities and equity
100,245
100,184
103,078
+0.1%
Goodwill
3,580
3,573
3,611
+0.2%
Intangible assets
268
279
304
-3.9%
Securities held for sale or to maturity
60,515
60,658
63,474
-0.2%
Cash and equivalents
307
380
374
-19.2%
Other assets
35,575
35,294
35,315
+0.8%
Total assets
100,245
100,184
103,078
+0.1%
10-K for the year ended 31 December 2016, filed 16 February 2017: the filing.