Walker & Dunlop (WD) FY2016 results: revenue $575 million, up 22.9% on the year
Walker & Dunlop, Inc. (WD) reported revenue of $575 million for fiscal 2016, the year ended 31 December 2016, up 22.9% on the year before. Net income was $114 million, up 38.7%, and diluted earnings per share $3.65. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$575 million
+22.9% on the year
FY2009FY2016
Operating margin
32.3%
28.9% a year earlier
FY2009FY2016
Net income
$114 million
+38.7% on the year
FY2009FY2016
Diluted EPS
$3.65
+37.7% 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
575
468
361
+22.9%
Operating income
186
135
83.9
+37.2%
Operating margin
32.3%
28.9%
23.3%
Interest expense
9.9
9.9
18.2
-0.7%
Pre-tax income
186
135
83.9
+37.2%
Income tax
71.5
52.8
32.5
+35.4%
Effective tax rate
38.5%
39.0%
38.7%
Net income
114
82.1
51.4
+38.7%
Net margin
19.8%
17.5%
14.3%
Diluted EPS
$3.65
$2.65
$1.58
+37.7%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
759
-1,339
n/a
Capital expenditure
2.5
1.4
2.5
+75.4%
Free cash flow
757
-1,340
n/a
Free cash flow margin
131.6%
-286.2%
n/a
Cash from investing
-66.8
-27.2
n/a
Cash from financing
-694
1,386
n/a
Depreciation and amortisation
111
98.2
80.1
+13.5%
Share-based compensation
18.5
14.1
10.0
+31.2%
Buybacks
12.9
50.3
37.6
-74.3%
Diluted shares, weighted
31m
31m
33m
+0.7%
Shares outstanding at period end
30m
29m
32m
+0.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
610
488
433
+25.1%
Non-controlling interest
4.9
4.4
n/a
+9.2%
Debt
164
164
1,389
-0.2%
Other liabilities
2,273
2,858
186
-20.5%
Total liabilities and equity
3,052
3,515
2,009
-13.2%
Goodwill
96.4
90.3
74.5
+6.7%
Intangible assets
n/a
n/a
376
Loans
220
231
223
-4.8%
Cash and equivalents
119
137
113
-13.3%
Other assets
2,617
3,056
1,223
-14.4%
Total assets
3,052
3,515
2,009
-13.2%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.