Verisign (VRSN) FY2016 results: revenue $1.1 billion, up 7.8% on the year
Verisign Inc. (VRSN) reported revenue of $1.1 billion for fiscal 2016, the year ended 31 December 2016, up 7.8% on the year before. Net income was $441 million, up 17.4%, and diluted earnings per share $3.42. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2017.
Revenue
$1.1 billion
+7.8% on the year
FY2009FY2016
Operating margin
60.1%
57.2% a year earlier
FY2009FY2016
Net income
$441 million
+17.4% on the year
FY2009FY2016
Diluted EPS
$3.42
+21.3% 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
1,142
1,059
1,010
+7.8%
Cost of revenue
198
193
188
+2.8%
Gross profit
944
867
822
+8.9%
Gross margin
82.6%
81.8%
81.3%
Research and development
59.1
63.7
67.8
-7.2%
Operating income
687
606
564
+13.3%
Operating margin
60.1%
57.2%
55.9%
Interest expense
116
108
86.0
+7.4%
Pre-tax income
581
488
483
+19.2%
Income tax
141
112
128
+25.0%
Effective tax rate
24.2%
23.1%
26.5%
Net income
441
375
355
+17.4%
Net margin
38.6%
35.4%
35.2%
Diluted EPS
$3.42
$2.82
$2.52
+21.3%
$ 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
693
670
601
+3.4%
Capital expenditure
26.6
40.7
39.3
-34.6%
Free cash flow
666
629
562
+5.9%
Free cash flow margin
58.3%
59.4%
55.6%
Cash from investing
-42.7
-497
113
Cash from financing
-649
-136
-860
Depreciation and amortisation
58.2
61.5
63.7
-5.4%
Share-based compensation
50.0
46.1
44.0
+8.6%
Buybacks
662
643
883
+3.0%
Dividends paid
0.0
0.0
0.0
Diluted shares, weighted
129m
133m
141m
-3.2%
Shares outstanding at period end
110m
110m
118m
0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
-1,201
-1,070
-883
Debt
1,867
1,870
1,361
-0.1%
Other liabilities
1,668
1,559
1,424
+7.0%
Total liabilities and equity
2,335
2,358
1,901
-1.0%
Fixed assets
266
296
319
-10.0%
Goodwill
52.5
52.5
52.5
0.0%
Investments
1,566
1,687
1,233
-7.2%
Cash and equivalents
232
229
192
+1.4%
Receivables
13.1
12.6
13.4
+3.3%
Other assets
205
81.6
91.5
+151.3%
Total assets
2,335
2,358
1,901
-1.0%
10-K for the year ended 31 December 2016, filed 17 February 2017: the filing.