American Financial Group (AFG) FY2018 results: revenue $7.2 billion, up 4.2% on the year
American Financial Group Inc. (AFG) reported revenue of $7.2 billion for fiscal 2018, the year ended 31 December 2018, up 4.2% on the year before. Net income was $530 million, up 11.6%, and diluted earnings per share $5.85. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$7.2 billion
+4.2% on the year
FY2011FY2018
Operating margin
8.9%
10.5% a year earlier
FY2011FY2018
Net income
$530 million
+11.6% on the year
FY2011FY2018
Diluted EPS
$5.85
+10.8% 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
7,150
6,865
6,498
+4.2%
Operating income
639
724
787
-11.7%
Operating margin
8.9%
10.5%
12.1%
Interest expense
62.0
85.0
77.0
-27.1%
Pre-tax income
639
724
787
-11.7%
Income tax
122
247
119
-50.6%
Effective tax rate
19.1%
34.1%
15.1%
Net income
530
475
649
+11.6%
Net margin
7.4%
6.9%
10.0%
Diluted EPS
$5.85
$5.28
$7.33
+10.8%
$ 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
2,083
1,804
1,150
+15.5%
Cash from investing
-5,350
-3,292
-2,981
Cash from financing
2,444
1,719
2,718
+42.2%
Depreciation and amortisation
210
107
134
+96.3%
Share-based compensation
23.0
30.0
28.0
-23.3%
Buybacks
6.0
0.0
133
Dividends paid
394
417
185
-5.5%
Dividend per share
$4.45
$4.79
$2.15
-7.0%
Diluted shares, weighted
91m
90m
88m
+0.9%
Shares outstanding at period end
89m
88m
87m
+1.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,970
5,330
4,916
-6.8%
Non-controlling interest
2.0
1.0
3.0
+100.0%
Redeemable equity
0.0
3.0
0.0
Debt
1,302
1,301
1,283
+0.1%
Other liabilities
57,182
54,023
48,870
+5.8%
Total liabilities and equity
63,456
60,658
55,072
+4.6%
Goodwill
176
199
199
-11.6%
Intangible assets
54.0
26.0
34.0
+107.7%
Securities held for sale or to maturity
41,997
38,379
34,544
+9.4%
Cash and equivalents
1,515
2,338
2,107
-35.2%
Other assets
19,714
19,716
18,188
-0.0%
Total assets
63,456
60,658
55,072
+4.6%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.