Walker & Dunlop (WD) FY2017 results: revenue $712 million, up 23.7% on the year
Walker & Dunlop, Inc. (WD) reported revenue of $712 million for fiscal 2017, the year ended 31 December 2017, up 23.7% on the year before. Net income was $211 million, up 85.4%, and diluted earnings per share $6.56. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$712 million
+23.7% on the year
FY2010FY2017
Operating margin
32.8%
32.3% a year earlier
FY2010FY2017
Net income
$211 million
+85.4% on the year
FY2010FY2017
Diluted EPS
$6.56
+79.7% on the year
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
712
575
468
+23.7%
Operating income
234
186
135
+25.8%
Operating margin
32.8%
32.3%
28.9%
Interest expense
9.7
9.9
9.9
-1.1%
Pre-tax income
234
186
135
+25.8%
Income tax
21.8
71.5
52.8
-69.5%
Effective tax rate
9.3%
38.5%
39.0%
Net income
211
114
82.1
+85.4%
Net margin
29.7%
19.8%
17.5%
Diluted EPS
$6.56
$3.65
$2.65
+79.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,068
759
-1,339
+40.6%
Capital expenditure
5.2
2.5
1.4
+110.1%
Free cash flow
1,062
757
-1,340
+40.4%
Free cash flow margin
149.2%
131.6%
-286.2%
Cash from investing
97.2
-66.8
-27.2
Cash from financing
-1,089
-694
1,386
Depreciation and amortisation
131
111
98.2
+17.8%
Share-based compensation
21.1
18.5
14.1
+14.4%
Buybacks
34.9
12.9
50.3
+170.7%
Diluted shares, weighted
32m
31m
31m
+3.3%
Shares outstanding at period end
30m
30m
29m
+1.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
809
610
488
+32.6%
Non-controlling interest
5.6
4.9
4.4
+14.6%
Debt
164
164
164
-0.2%
Other liabilities
1,230
2,273
2,858
-45.9%
Total liabilities and equity
2,208
3,052
3,515
-27.7%
Goodwill
124
96.4
90.3
+28.4%
Loans
66.5
220
231
-69.8%
Cash and equivalents
191
119
137
+61.0%
Other assets
1,827
2,617
3,056
-30.2%
Total assets
2,208
3,052
3,515
-27.7%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.