Travelers Companies (TRV) FY2019 results: revenue $31.6 billion, up 4.3% on the year
Travelers Companies, Inc. (TRV) reported revenue of $31.6 billion for fiscal 2019, the year ended 31 December 2019, up 4.3% on the year before. Net income was $2.6 billion, up 3.9%, and diluted earnings per share $9.92. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$31.6 billion
+4.3% on the year
FY2012FY2019
Operating margin
9.9%
9.8% a year earlier
FY2012FY2019
Net income
$2.6 billion
+3.9% on the year
FY2012FY2019
Diluted EPS
$9.92
+6.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
31,581
30,282
28,902
+4.3%
Selling, general and administrative
4,365
4,297
4,170
+1.6%
Operating income
3,138
2,961
2,730
+6.0%
Operating margin
9.9%
9.8%
9.4%
Interest expense
344
352
369
-2.3%
Pre-tax income
3,138
2,961
2,730
+6.0%
Income tax
516
438
674
+17.8%
Effective tax rate
16.4%
14.8%
24.7%
Net income
2,622
2,523
2,056
+3.9%
Net margin
8.3%
8.3%
7.1%
Diluted EPS
$9.92
$9.28
$7.33
+6.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
5,205
4,380
4,148
+18.8%
Cash from investing
-2,902
-2,329
-2,202
Cash from financing
-2,187
-2,012
-1,920
Depreciation and amortisation
763
803
813
-5.0%
Share-based compensation
142
140
136
+1.4%
Buybacks
1,500
1,270
1,378
+18.1%
Dividends paid
844
814
785
+3.7%
Dividend per share
n/a
n/a
$2.83
Diluted shares, weighted
262m
270m
279m
-2.8%
Shares outstanding at period end
256m
264m
271m
-3.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
25,943
22,894
23,731
+13.3%
Debt
6,558
6,564
6,571
-0.1%
Other liabilities
77,621
74,775
73,181
+3.8%
Total liabilities and equity
110,122
104,233
103,483
+5.6%
Goodwill
3,961
3,937
3,951
+0.6%
Intangible assets
330
345
342
-4.3%
Securities held for sale or to maturity
68,134
63,464
62,694
+7.4%
Cash and equivalents
494
373
344
+32.4%
Other assets
37,203
36,114
36,152
+3.0%
Total assets
110,122
104,233
103,483
+5.6%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.