Visa (V) FY2017 results: revenue $18.4 billion, up 21.7% on the year
Visa Inc. (V) reported revenue of $18.4 billion for fiscal 2017, the year ended 30 September 2017, up 21.7% on the year before. Net income was $6.7 billion, up 11.8%, and diluted earnings per share $2.80. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2017.
Revenue
$18.4 billion
+21.7% on the year
FY2010FY2017
Operating margin
66.2%
52.3% a year earlier
FY2010FY2017
Net income
$6.7 billion
+11.8% on the year
FY2010FY2017
Diluted EPS
$2.80
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
18,358
15,082
13,880
+21.7%
Operating income
12,144
7,883
9,064
+54.1%
Operating margin
66.2%
52.3%
65.3%
Pre-tax income
11,694
8,012
8,995
+46.0%
Income tax
4,995
2,021
2,667
+147.2%
Effective tax rate
42.7%
25.2%
29.6%
Net income
6,699
5,991
6,328
+11.8%
Net margin
36.5%
39.7%
45.6%
Diluted EPS
$2.80
n/a
n/a
$ 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
9,317
5,574
6,584
+67.2%
Capital expenditure
707
523
414
+35.2%
Free cash flow
8,610
5,051
6,170
+70.5%
Free cash flow margin
46.9%
33.5%
44.5%
Cash from investing
735
-10,916
-1,435
Cash from financing
-5,924
7,477
-3,603
Depreciation and amortisation
556
502
494
+10.8%
Share-based compensation
235
221
187
+6.3%
Buybacks
6,891
n/a
2,910
Dividends paid
1,579
1,350
1,177
+17.0%
Dividend per share
$0.17
$0.14
$0.12
+17.9%
Diluted shares, weighted
2,395m
n/a
n/a
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
32,760
32,912
29,842
-0.5%
Debt
18,367
15,882
0.0
+15.6%
Other liabilities
16,850
15,241
9,525
+10.6%
Total liabilities and equity
67,977
64,035
39,367
+6.2%
Fixed assets
2,253
2,150
1,888
+4.8%
Goodwill
15,110
15,066
11,825
+0.3%
Intangible assets
27,848
27,234
11,361
+2.3%
Investments
5,408
7,179
5,815
-24.7%
Trading assets
82.0
71.0
66.0
+15.5%
Cash and equivalents
9,874
5,619
3,518
+75.7%
Receivables
1,132
1,041
847
+8.7%
Other assets
6,270
5,675
4,047
+10.5%
Total assets
67,977
64,035
39,367
+6.2%
10-K for the year ended 30 September 2017, filed 17 November 2017: the filing.