United Fire Group (UFCS) FY2017 results: revenue $1.1 billion, up 5.7% on the year
United Fire Group Inc. (UFCS) reported revenue of $1.1 billion for fiscal 2017, the year ended 31 December 2017, up 5.7% on the year before. Net income was $51 million, up 2.2%, and diluted earnings per share $1.99. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$1.1 billion
+5.7% on the year
FY2010FY2017
Operating margin
1.5%
5.8% a year earlier
FY2010FY2017
Net income
$51 million
+2.2% on the year
FY2010FY2017
Diluted EPS
$1.99
+3.1% 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
1,053
996
899
+5.7%
Operating income
15.7
57.5
115
-72.8%
Operating margin
1.5%
5.8%
12.8%
Interest expense
0.0
0.0
0.0
Pre-tax income
15.7
57.5
115
-72.8%
Income tax
-29.2
8.4
30.1
Effective tax rate
-186.7%
14.6%
26.0%
Net income
51.0
49.9
89.1
+2.2%
Net margin
4.8%
5.0%
9.9%
Diluted EPS
$1.99
$1.93
$3.53
+3.1%
$ 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
170
214
190
-20.7%
Capital expenditure
17.2
7.6
9.7
+125.8%
Free cash flow
153
207
180
-26.0%
Free cash flow margin
14.5%
20.8%
20.0%
Cash from investing
-62.0
-112
-36.3
Cash from financing
-108
-97.6
-138
Depreciation and amortisation
4.6
6.0
6.5
-24.2%
Share-based compensation
4.8
3.7
2.5
+30.1%
Buybacks
29.8
3.7
2.4
+695.1%
Dividends paid
27.3
24.6
21.7
+11.2%
Dividend per share
$1.09
$0.97
$0.86
+12.4%
Diluted shares, weighted
26m
26m
25m
-0.6%
Shares outstanding at period end
25m
25m
25m
-2.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
973
942
879
+3.3%
Other liabilities
3,210
3,113
3,011
+3.1%
Total liabilities and equity
4,183
4,055
3,890
+3.2%
Fixed assets
69.0
55.5
53.2
+24.3%
Goodwill
15.1
15.1
15.1
0.0%
Intangible assets
8.9
9.6
10.4
-8.0%
Securities held for sale or to maturity
1,535
1,453
2,826
+5.6%
Trading assets
16.8
20.0
17.0
-15.9%
Cash and equivalents
95.6
89.2
89.5
+7.1%
Other assets
2,443
2,412
880
+1.3%
Total assets
4,183
4,055
3,890
+3.2%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.