United Parcel Service (UPS) FY2016 results: revenue $61.6 billion, up 5.6% on the year
United Parcel Service Inc. (UPS) reported revenue of $61.6 billion for fiscal 2016, the year ended 31 December 2016, up 5.6% on the year before. Net income was $3.4 billion, down 29.4%, and diluted earnings per share $3.86. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$61.6 billion
+5.6% on the year
FY2009FY2016
Operating margin
12.5%
13.1% a year earlier
FY2009FY2016
Net income
$3.4 billion
-29.4% on the year
FY2009FY2016
Diluted EPS
$3.86
-27.9% 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
61,610
58,363
58,232
+5.6%
Operating income
7,688
7,668
4,968
+0.3%
Operating margin
12.5%
13.1%
8.5%
Interest expense
381
341
353
+11.7%
Pre-tax income
5,121
7,342
4,637
-30.3%
Income tax
1,699
2,498
1,605
-32.0%
Effective tax rate
33.2%
34.0%
34.6%
Net income
3,422
4,844
3,032
-29.4%
Net margin
5.6%
8.3%
5.2%
Diluted EPS
$3.86
$5.35
$3.28
-27.9%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
6,473
7,430
5,726
-12.9%
Capital expenditure
2,965
2,379
2,328
+24.6%
Free cash flow
3,508
5,051
3,398
-30.5%
Free cash flow margin
5.7%
8.7%
5.8%
Cash from investing
-2,566
-5,309
-2,801
Cash from financing
-3,140
-1,565
-5,161
Depreciation and amortisation
2,224
2,084
1,923
+6.7%
Share-based compensation
591
574
536
+3.0%
Buybacks
2,678
2,702
2,695
-0.9%
Dividends paid
2,643
2,525
2,366
+4.7%
Diluted shares, weighted
887m
906m
924m
-2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
405
2,470
2,141
-83.6%
Non-controlling interest
24.0
21.0
17.0
+14.3%
Debt
16,075
14,334
10,779
+12.1%
Other liabilities
24,041
21,486
22,534
+11.9%
Total liabilities and equity
40,545
38,311
35,471
+5.8%
Fixed assets
18,800
18,352
18,281
+2.4%
Goodwill
3,757
3,419
2,184
+9.9%
Intangible assets
1,758
1,549
847
+13.5%
Investments
1,091
1,996
992
-45.3%
Trading assets
517
1,429
430
-63.8%
Cash and equivalents
3,476
2,730
2,291
+27.3%
Receivables
7,695
7,134
6,661
+7.9%
Inventory
342
308
344
+11.0%
Other assets
3,109
1,394
3,441
+123.0%
Total assets
40,545
38,311
35,471
+5.8%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.