U.S. Bancorp (USB) FY2016 results: revenue $21.0 billion, up 4.3% on the year
U.S. Bancorp (USB) reported revenue of $21.0 billion for fiscal 2016, the year ended 31 December 2016, up 4.3% on the year before. Net income was $5.9 billion, up 0.2%, and diluted earnings per share $3.24. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2017.
Revenue
$21.0 billion
+4.3% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$5.9 billion
+0.2% on the year
FY2009FY2016
Diluted EPS
$3.24
+2.5% 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
20,956
20,093
19,939
+4.3%
Interest expense
1,468
1,401
1,453
+4.8%
Pre-tax income
8,105
8,030
7,995
+0.9%
Income tax
2,161
2,097
2,087
+3.1%
Effective tax rate
26.7%
26.1%
26.1%
Net income
5,888
5,879
5,851
+0.2%
Net margin
28.1%
29.3%
29.3%
Diluted EPS
$3.24
$3.16
$3.08
+2.5%
$ 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
5,336
8,782
5,332
-39.2%
Cash from investing
-17,958
n/a
n/a
Cash from financing
17,180
n/a
n/a
Share-based compensation
150
125
125
+20.0%
Buybacks
2,556
2,190
2,200
+16.7%
Dividends paid
1,810
1,777
1,726
+1.9%
Dividend per share
$1.07
$1.01
$0.96
+5.9%
Diluted shares, weighted
1,724m
1,772m
1,813m
-2.7%
Shares outstanding at period end
1,700m
1,700m
1,800m
0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
47,298
46,131
43,479
+2.5%
Non-controlling interest
635
686
689
-7.4%
Deposits
334,590
300,400
282,733
+11.4%
Debt
47,286
59,955
62,153
-21.1%
Other liabilities
16,155
14,681
13,475
+10.0%
Total liabilities and equity
445,964
421,853
402,529
+5.7%
Fixed assets
2,443
2,513
2,618
-2.8%
Goodwill
9,344
9,361
9,389
-0.2%
Intangible assets
3,303
3,350
3,162
-1.4%
Securities held for sale or to maturity
42,991
43,590
44,974
-1.4%
Securities borrowed
944
772
638
+22.3%
Other assets
386,939
362,267
341,748
+6.8%
Total assets
445,964
421,853
402,529
+5.7%
10-K for the year ended 31 December 2016, filed 23 February 2017: the filing.