Essential Utilities (WTRG) FY2016 results: revenue $820 million, up 0.7% on the year
Essential Utilities, Inc. (WTRG) reported revenue of $820 million for fiscal 2016, the year ended 31 December 2016, up 0.7% on the year before. Net income was $234 million, up 16.1%, and diluted earnings per share $1.32. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$820 million
+0.7% on the year
FY2009FY2016
Operating margin
40.7%
39.4% a year earlier
FY2009FY2016
Net income
$234 million
+16.1% on the year
FY2009FY2016
Diluted EPS
$1.32
+15.8% 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
820
814
780
+0.7%
Operating income
333
321
314
+3.8%
Operating margin
40.7%
39.4%
40.3%
Interest expense
80.6
76.5
76.4
+5.3%
Pre-tax income
255
217
239
+17.7%
Income tax
21.0
15.0
25.2
+40.2%
Effective tax rate
8.2%
6.9%
10.5%
Net income
234
202
233
+16.1%
Net margin
28.6%
24.8%
29.9%
Diluted EPS
$1.32
$1.14
$1.31
+15.8%
$ 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
396
371
364
+6.7%
Capital expenditure
383
365
329
+5.0%
Free cash flow
12.8
6.1
35.2
+109.5%
Free cash flow margin
1.6%
0.7%
4.5%
Cash from investing
-383
-394
-293
Cash from financing
-12.4
22.4
-72.2
Depreciation and amortisation
133
129
127
+3.3%
Share-based compensation
5.4
5.9
6.8
-8.0%
Buybacks
3.0
25.2
15.8
-88.0%
Dividends paid
131
121
112
+8.0%
Dividend per share
$0.74
$0.69
$0.63
+7.7%
Diluted shares, weighted
178m
178m
178m
+0.2%
Shares outstanding at period end
177m
177m
177m
+0.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,850
1,726
1,655
+7.2%
Non-controlling interest
n/a
n/a
0.0
Debt
1,895
1,773
1,638
+6.9%
Other liabilities
2,414
2,219
2,090
+8.8%
Total liabilities and equity
6,159
5,718
5,383
+7.7%
Fixed assets
5,002
4,689
4,402
+6.7%
Goodwill
42.2
33.9
31.2
+24.6%
Cash and equivalents
3.8
3.2
4.1
+16.5%
Receivables
97.4
99.1
97.0
-1.8%
Inventory
13.0
12.4
12.8
+4.4%
Other assets
1,001
880
836
+13.7%
Total assets
6,159
5,718
5,383
+7.7%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.