Analog Devices (ADI) FY2018 results: revenue $6.2 billion, up 18.6% on the year
Analog Devices Inc. (ADI) reported revenue of $6.2 billion for fiscal 2018, the year ended 3 November 2018, up 18.6% on the year before. Net income was $1.5 billion, up 87.1%, and diluted earnings per share $3.97. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2018.
Revenue
$6.2 billion
+18.6% on the year
FY2011FY2018
Operating margin
30.5%
22.2% a year earlier
FY2011FY2018
Net income
$1.5 billion
+87.1% on the year
FY2011FY2018
Diluted EPS
$3.97
+91.8% 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
6,225
5,246
3,421
+18.6%
Cost of revenue
1,974
2,078
1,194
-5.0%
Gross profit
4,250
3,168
2,227
+34.2%
Gross margin
68.3%
60.4%
65.1%
Research and development
1,165
969
654
+20.3%
Selling, general and administrative
696
691
461
+0.7%
Operating income
1,900
1,163
1,028
+63.4%
Operating margin
30.5%
22.2%
30.0%
Interest expense
254
251
88.8
+1.1%
Pre-tax income
1,655
935
957
+77.1%
Income tax
148
129
95.3
+14.7%
Effective tax rate
9.0%
13.8%
10.0%
Net income
1,507
805
862
+87.1%
Net margin
24.2%
15.4%
25.2%
Diluted EPS
$3.97
$2.07
$2.76
+91.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,442
1,154
1,291
+111.6%
Capital expenditure
255
204
127
+24.9%
Free cash flow
2,187
950
1,164
+130.2%
Free cash flow margin
35.1%
18.1%
34.0%
Cash from investing
-314
-6,618
-1,218
Cash from financing
-2,358
5,587
-33.4
Depreciation and amortisation
799
584
210
+36.8%
Share-based compensation
151
104
63.4
+45.1%
Buybacks
226
46.5
370
+385.6%
Dividends paid
703
602
513
+16.8%
Dividend per share
$1.89
$1.77
$1.66
+6.8%
Diluted shares, weighted
375m
350m
312m
+7.0%
Shares outstanding at period end
370m
369m
308m
+0.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
11,268
10,162
5,166
+10.9%
Debt
6,333
7,851
1,732
-19.3%
Other liabilities
2,849
3,129
1,072
-8.9%
Total liabilities and equity
20,450
21,141
7,970
-3.3%
Fixed assets
1,154
1,107
636
+4.2%
Goodwill
12,253
12,217
1,679
+0.3%
Intangible assets
4,778
5,319
549
-10.2%
Investments
28.7
24.8
3,157
+15.7%
Cash and equivalents
817
1,048
921
-22.1%
Receivables
640
689
478
-7.1%
Inventory
587
551
377
+6.5%
Other assets
193
185
174
+4.4%
Total assets
20,450
21,141
7,970
-3.3%
10-K for the year ended 3 November 2018, filed 27 November 2018: the filing.