Travelers Companies (TRV) FY2017 results: revenue $28.9 billion, up 4.6% on the year
Travelers Companies, Inc. (TRV) reported revenue of $28.9 billion for fiscal 2017, the year ended 31 December 2017, up 4.6% on the year before. Net income was $2.1 billion, down 31.8%, and diluted earnings per share $7.33. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2018.
Revenue
$28.9 billion
+4.6% on the year
FY2010FY2017
Operating margin
9.4%
14.7% a year earlier
FY2010FY2017
Net income
$2.1 billion
-31.8% on the year
FY2010FY2017
Diluted EPS
$7.33
-28.7% 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
28,902
27,625
26,800
+4.6%
Selling, general and administrative
4,170
4,154
4,094
+0.4%
Operating income
2,730
4,053
4,740
-32.6%
Operating margin
9.4%
14.7%
17.7%
Interest expense
369
363
373
+1.7%
Pre-tax income
2,730
4,053
4,740
-32.6%
Income tax
674
1,039
1,301
-35.1%
Effective tax rate
24.7%
25.6%
27.4%
Net income
2,056
3,014
3,439
-31.8%
Net margin
7.1%
10.9%
12.8%
Diluted EPS
$7.33
$10.28
$10.88
-28.7%
$ 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
4,148
4,469
3,434
-7.2%
Cash from investing
-2,202
-1,727
317
Cash from financing
-1,920
-2,806
-3,733
Depreciation and amortisation
813
826
818
-1.6%
Share-based compensation
136
155
141
-12.3%
Buybacks
1,378
2,400
3,150
-42.6%
Dividends paid
785
757
739
+3.7%
Dividend per share
$2.83
$2.62
$2.38
+8.0%
Diluted shares, weighted
279m
291m
314m
-4.3%
Shares outstanding at period end
271m
280m
296m
-2.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
23,731
23,221
23,598
+2.2%
Debt
6,571
6,437
6,344
+2.1%
Other liabilities
73,181
70,587
70,242
+3.7%
Total liabilities and equity
103,483
100,245
100,184
+3.2%
Goodwill
3,951
3,580
3,573
+10.4%
Intangible assets
342
268
279
+27.6%
Securities held for sale or to maturity
62,694
60,515
60,658
+3.6%
Cash and equivalents
344
307
380
+12.1%
Other assets
36,152
35,575
35,294
+1.6%
Total assets
103,483
100,245
100,184
+3.2%
10-K for the year ended 31 December 2017, filed 15 February 2018: the filing.