Abbott Laboratories (ABT) FY2018 results: revenue $30.6 billion, up 11.6% on the year
Abbott Laboratories (ABT) reported revenue of $30.6 billion for fiscal 2018, the year ended 31 December 2018, up 11.6% on the year before. Net income was $2.4 billion, up 396.4%, and diluted earnings per share $1.33. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$30.6 billion
+11.6% on the year
FY2011FY2018
Operating margin
11.9%
5.7% a year earlier
FY2011FY2018
Net income
$2.4 billion
+396.4% on the year
FY2011FY2018
Diluted EPS
$1.33
+392.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
30,578
27,390
20,853
+11.6%
Cost of revenue
12,706
12,409
9,094
+2.4%
Gross profit
17,872
14,981
11,759
+19.3%
Gross margin
58.4%
54.7%
56.4%
Research and development
2,300
2,260
1,447
+1.8%
Selling, general and administrative
9,744
9,182
6,736
+6.1%
Operating income
3,650
1,564
3,026
+133.4%
Operating margin
11.9%
5.7%
14.5%
Interest expense
826
904
431
-8.6%
Pre-tax income
2,873
2,231
1,413
+28.8%
Income tax
539
1,878
350
-71.3%
Effective tax rate
18.8%
84.2%
24.8%
Net income
2,368
477
1,400
+396.4%
Net margin
7.7%
1.7%
6.7%
Diluted EPS
$1.33
$0.27
$0.94
+392.6%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
6,300
5,570
3,203
+13.1%
Capital expenditure
1,394
1,135
1,121
+22.8%
Free cash flow
4,906
4,435
2,082
+10.6%
Free cash flow margin
16.0%
16.2%
10.0%
Cash from investing
-1,356
-9,618
-248
Cash from financing
-10,391
-5,281
11,147
Depreciation and amortisation
3,278
3,021
1,353
+8.5%
Share-based compensation
477
406
310
+17.5%
Buybacks
238
117
522
+103.4%
Dividends paid
1,974
1,849
1,539
+6.8%
Diluted shares, weighted
1,770m
1,749m
1,483m
+1.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
30,524
30,897
20,538
-1.2%
Non-controlling interest
198
201
179
-1.5%
Debt
19,566
27,924
22,006
-29.9%
Other liabilities
16,885
17,228
9,943
-2.0%
Total liabilities and equity
67,173
76,250
52,666
-11.9%
Fixed assets
7,563
7,607
5,705
-0.6%
Goodwill
23,254
24,020
7,683
-3.2%
Intangible assets
18,942
21,473
4,539
-11.8%
Investments
1,139
1,086
3,102
+4.9%
Cash and equivalents
3,844
9,407
18,620
-59.1%
Receivables
5,182
5,249
3,248
-1.3%
Inventory
3,796
3,601
2,434
+5.4%
Other assets
3,453
3,807
7,335
-9.3%
Total assets
67,173
76,250
52,666
-11.9%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.