Western Union (WU) FY2016 results: revenue $5.4 billion, down 1.1% on the year
Western Union Co. (WU) reported revenue of $5.4 billion for fiscal 2016, the year ended 31 December 2016, down 1.1% on the year before. Net income was $253 million, down 69.8%, and diluted earnings per share $0.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$5.4 billion
-1.1% on the year
FY2009FY2016
Operating margin
9.0%
20.2% a year earlier
FY2009FY2016
Net income
$253 million
-69.8% on the year
FY2009FY2016
Diluted EPS
$0.51
-68.5% 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
5,423
5,484
5,607
-1.1%
Cost of revenue
3,267
3,199
3,297
+2.1%
Gross profit
2,156
2,284
2,310
-5.6%
Gross margin
39.8%
41.7%
41.2%
Selling, general and administrative
1,669
1,175
1,169
+42.1%
Operating income
487
1,109
1,140
-56.1%
Operating margin
9.0%
20.2%
20.3%
Interest expense
152
168
177
-9.2%
Pre-tax income
342
942
968
-63.7%
Income tax
88.5
104
116
-14.9%
Effective tax rate
25.9%
11.0%
12.0%
Net income
253
838
852
-69.8%
Net margin
4.7%
15.3%
15.2%
Diluted EPS
$0.51
$1.62
$1.59
-68.5%
$ 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
1,042
1,071
1,046
-2.7%
Capital expenditure
68.8
94.4
67.8
-27.1%
Free cash flow
973
977
978
-0.4%
Free cash flow margin
17.9%
17.8%
17.4%
Cash from investing
-271
-286
-89.4
Cash from financing
-1,209
-1,252
-1,246
Depreciation and amortisation
263
270
272
-2.6%
Share-based compensation
41.8
42.2
39.7
-0.9%
Buybacks
502
511
495
-1.9%
Dividends paid
312
316
265
-1.4%
Dividend per share
$0.64
$0.62
$0.50
+3.2%
Diluted shares, weighted
494m
517m
537m
-4.5%
Shares outstanding at period end
482m
502m
522m
-4.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
902
1,405
1,300
-35.8%
Debt
2,786
3,216
3,720
-13.4%
Other liabilities
5,731
4,838
4,870
+18.5%
Total liabilities and equity
9,420
9,459
9,890
-0.4%
Fixed assets
220
232
206
-4.9%
Goodwill
3,162
3,164
3,169
-0.1%
Intangible assets
664
705
748
-5.8%
Cash and equivalents
878
1,316
1,783
-33.3%
Other assets
4,495
4,042
3,984
+11.2%
Total assets
9,420
9,459
9,890
-0.4%
10-K for the year ended 31 December 2016, filed 22 February 2017: the filing.