Walker & Dunlop (WD) FY2015 results: revenue $468 million, up 29.8% on the year
Walker & Dunlop, Inc. (WD) reported revenue of $468 million for fiscal 2015, the year ended 31 December 2015, up 29.8% on the year before. Net income was $82 million, up 59.7%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$468 million
+29.8% on the year
FY2009FY2015
Operating margin
28.9%
23.3% a year earlier
FY2009FY2015
Net income
$82 million
+59.7% on the year
FY2009FY2015
Diluted EPS
$2.65
+67.7% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
468
361
319
+29.8%
Operating income
135
83.9
66.8
+61.3%
Operating margin
28.9%
23.3%
20.9%
Interest expense
9.9
18.2
13.7
-45.5%
Pre-tax income
135
83.9
66.8
+61.3%
Income tax
52.8
32.5
25.3
+62.4%
Effective tax rate
39.0%
38.7%
37.8%
Net income
82.1
51.4
41.5
+59.7%
Net margin
17.5%
14.3%
13.0%
Diluted EPS
$2.65
$1.58
$1.21
+67.7%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
-1,339
n/a
837
Capital expenditure
1.4
2.5
4.5
-44.0%
Free cash flow
-1,340
n/a
832
Free cash flow margin
-286.2%
n/a
260.9%
Cash from investing
-27.2
n/a
n/a
Cash from financing
1,386
n/a
n/a
Depreciation and amortisation
98.2
80.1
76.0
+22.5%
Share-based compensation
14.1
10.0
9.2
+40.9%
Buybacks
50.3
37.6
3.0
+33.7%
Diluted shares, weighted
31m
33m
34m
-5.1%
Shares outstanding at period end
29m
32m
34m
-7.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
488
433
403
+12.6%
Non-controlling interest
4.4
n/a
n/a
Debt
164
1,389
548
-88.2%
Other liabilities
2,858
186
178
+1,433.0%
Total liabilities and equity
3,515
2,009
1,129
+74.9%
Goodwill
90.3
74.5
60.2
+21.2%
Intangible assets
n/a
376
354
Loans
231
223
135
+3.8%
Cash and equivalents
137
113
171
+20.8%
Other assets
3,056
1,223
410
+150.0%
Total assets
3,515
2,009
1,129
+74.9%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.