American Electric Power (AEP) FY2018 results: revenue $16.2 billion, up 5.0% on the year
American Electric Power Co. Inc. (AEP) reported revenue of $16.2 billion for fiscal 2018, the year ended 31 December 2018, up 5.0% on the year before. Net income was $1.9 billion, up 0.6%, and diluted earnings per share $3.90. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$16.2 billion
+5.0% on the year
FY2011FY2018
Operating margin
16.6%
22.9% a year earlier
FY2011FY2018
Net income
$1.9 billion
+0.6% on the year
FY2011FY2018
Diluted EPS
$3.90
+0.5% 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
16,196
15,425
16,380
+5.0%
Operating income
2,683
3,525
1,164
-23.9%
Operating margin
16.6%
22.9%
7.1%
Interest expense
984
895
877
+10.0%
Pre-tax income
2,044
2,899
547
-29.5%
Income tax
115
970
-73.7
-88.1%
Effective tax rate
5.6%
33.5%
-13.5%
Net income
1,924
1,913
611
+0.6%
Net margin
11.9%
12.4%
3.7%
Diluted EPS
$3.90
$3.88
$1.24
+0.5%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
5,223
4,270
4,522
+22.3%
Capital expenditure
0.0
0.0
108
Free cash flow
5,223
4,270
4,414
+22.3%
Free cash flow margin
32.3%
27.7%
26.9%
Cash from investing
-6,354
-3,656
-4,989
Cash from financing
1,162
-605
504
Depreciation and amortisation
n/a
n/a
1,690
Dividends paid
1,256
1,192
1,121
+5.3%
Dividend per share
$2.53
$2.39
$2.27
+5.9%
Diluted shares, weighted
494m
493m
492m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
19,028
18,287
17,397
+4.1%
Non-controlling interest
31.0
26.6
23.1
+16.5%
Redeemable equity
69.4
0.0
n/a
Short-term borrowings
n/a
1,639
1,713
Debt
25,257
21,173
20,256
+19.3%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
24,417
23,604
24,078
+3.4%
Total liabilities and equity
68,803
64,729
63,468
+6.3%
Fixed assets
55,099
50,262
45,639
+9.6%
Goodwill
52.5
52.5
52.5
0.0%
Investments
159
162
139
-1.6%
Cash and equivalents
234
215
210
+9.1%
Receivables
1,926
1,891
1,917
+1.9%
Other assets
11,332
12,148
15,510
-6.7%
Total assets
68,803
64,729
63,468
+6.3%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.