Waste Management (WM) FY2016 results: revenue $13.6 billion, up 5.0% on the year
Waste Management Inc. (WM) reported revenue of $13.6 billion for fiscal 2016, the year ended 31 December 2016, up 5.0% on the year before. Net income was $1.2 billion, up 57.0%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2017.
Revenue
$13.6 billion
+5.0% on the year
FY2009FY2016
Operating margin
16.9%
15.8% a year earlier
FY2009FY2016
Net income
$1.2 billion
+57.0% on the year
FY2009FY2016
Diluted EPS
$2.65
+60.6% 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
13,609
12,961
13,996
+5.0%
Cost of revenue
8,486
8,231
9,002
+3.1%
Gross profit
5,123
4,730
4,994
+8.3%
Gross margin
37.6%
36.5%
35.7%
Selling, general and administrative
1,410
1,343
1,481
+5.0%
Operating income
2,296
2,045
2,299
+12.3%
Operating margin
16.9%
15.8%
16.4%
Interest expense
376
385
466
-2.3%
Pre-tax income
1,822
1,060
1,751
+71.9%
Income tax
642
308
413
+108.4%
Effective tax rate
35.2%
29.1%
23.6%
Net income
1,182
753
1,298
+57.0%
Net margin
8.7%
5.8%
9.3%
Diluted EPS
$2.65
$1.65
$2.79
+60.6%
$ 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
3,006
2,528
2,331
+18.9%
Capital expenditure
1,339
1,229
1,181
+9.0%
Free cash flow
1,667
1,299
1,150
+28.3%
Free cash flow margin
12.2%
10.0%
8.2%
Cash from investing
-1,932
-1,608
n/a
Cash from financing
-1,084
-2,185
n/a
Depreciation and amortisation
1,301
1,245
1,292
+4.5%
Share-based compensation
90.0
72.0
65.0
+25.0%
Buybacks
725
600
600
+20.8%
Dividends paid
726
695
693
+4.5%
Dividend per share
$1.64
$1.54
$1.50
+6.5%
Diluted shares, weighted
446m
456m
466m
-2.1%
Shares outstanding at period end
439m
447m
458m
-1.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
5,297
5,345
5,866
-0.9%
Non-controlling interest
23.0
22.0
23.0
+4.5%
Debt
9,310
8,929
9,435
+4.3%
Other liabilities
6,229
6,071
5,928
+2.6%
Total liabilities and equity
20,859
20,367
21,252
+2.4%
Fixed assets
10,950
10,665
10,657
+2.7%
Goodwill
6,215
5,984
5,740
+3.9%
Intangible assets
591
477
440
+23.9%
Cash and equivalents
32.0
39.0
1,307
-17.9%
Receivables
1,700
1,549
1,587
+9.7%
Other assets
1,371
1,653
1,521
-17.1%
Total assets
20,859
20,367
21,252
+2.4%
10-K for the year ended 31 December 2016, filed 16 February 2017: the filing.