Western Union (WU) FY2017 results: revenue $5.5 billion, up 1.9% on the year
Western Union Co. (WU) reported revenue of $5.5 billion for fiscal 2017, the year ended 31 December 2017, up 1.9% on the year before. Net income was -$557 million, and diluted earnings per share $-1.19. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$5.5 billion
+1.9% on the year
FY2010FY2017
Operating margin
8.6%
9.0% a year earlier
FY2010FY2017
Net income
-$557 million
FY2010FY2017
Diluted EPS
-$1.19
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
5,524
5,423
5,484
+1.9%
Cost of revenue
3,353
3,267
3,199
+2.6%
Gross profit
2,171
2,156
2,284
+0.7%
Gross margin
39.3%
39.8%
41.7%
Selling, general and administrative
1,232
1,669
1,175
-26.2%
Operating income
476
487
1,109
-2.3%
Operating margin
8.6%
9.0%
20.2%
Interest expense
142
152
168
-6.8%
Pre-tax income
348
342
942
+1.7%
Income tax
905
88.5
104
+922.1%
Effective tax rate
260.3%
25.9%
11.0%
Net income
-557
253
838
Net margin
-10.1%
4.7%
15.3%
Diluted EPS
-$1.19
$0.51
$1.62
$ 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
742
1,042
1,071
-28.8%
Capital expenditure
69.1
68.8
94.4
+0.4%
Free cash flow
673
973
977
-30.8%
Free cash flow margin
12.2%
17.9%
17.8%
Cash from investing
-205
-271
-286
Cash from financing
-570
-1,209
-1,252
Depreciation and amortisation
263
263
270
-0.1%
Share-based compensation
43.9
41.8
42.2
+5.0%
Buybacks
503
502
511
+0.2%
Dividends paid
326
312
316
+4.3%
Dividend per share
$0.70
$0.64
$0.62
+9.4%
Diluted shares, weighted
468m
494m
517m
-5.2%
Shares outstanding at period end
459m
482m
502m
-4.7%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
-491
902
1,405
Debt
3,034
2,786
3,216
+8.9%
Other liabilities
6,689
5,731
4,838
+16.7%
Total liabilities and equity
9,231
9,420
9,459
-2.0%
Fixed assets
214
220
232
-2.9%
Goodwill
2,728
3,162
3,164
-13.7%
Intangible assets
586
664
705
-11.7%
Securities held for sale or to maturity
1,350
n/a
n/a
Cash and equivalents
838
878
1,316
-4.5%
Other assets
3,515
4,495
4,042
-21.8%
Total assets
9,231
9,420
9,459
-2.0%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.