Albemarle (ALB) FY2018 results: revenue $3.4 billion, up 9.9% on the year
Albemarle Corp. (ALB) reported revenue of $3.4 billion for fiscal 2018, the year ended 31 December 2018, up 9.9% on the year before. Net income was $694 million, up 1164.5%, and diluted earnings per share $6.34. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$3.4 billion
+9.9% on the year
FY2011FY2018
Operating margin
27.0%
18.6% a year earlier
FY2011FY2018
Net income
$694 million
+1,164.5% on the year
FY2011FY2018
Diluted EPS
$6.34
+1,193.9% 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
3,375
3,072
2,677
+9.9%
Cost of revenue
2,158
1,966
1,707
+9.8%
Gross profit
1,217
1,106
971
+10.0%
Gross margin
36.1%
36.0%
36.3%
Research and development
70.1
84.3
80.5
-16.9%
Selling, general and administrative
446
450
354
-0.9%
Operating income
912
572
601
+59.5%
Operating margin
27.0%
18.6%
22.4%
Pre-tax income
795
447
515
+77.9%
Income tax
145
432
96.3
-66.5%
Effective tax rate
18.2%
96.6%
18.7%
Net income
694
54.9
644
+1,164.5%
Net margin
20.6%
1.8%
24.0%
Diluted EPS
$6.34
$0.49
$5.68
+1,193.9%
$ 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
546
304
736
+79.7%
Capital expenditure
700
318
197
+120.3%
Free cash flow
-154
-13.7
539
Free cash flow margin
-4.6%
-0.4%
20.1%
Cash from investing
-304
-358
2,920
Cash from financing
-787
-1,087
-1,578
Depreciation and amortisation
201
197
226
+1.9%
Share-based compensation
15.2
19.4
17.0
-21.5%
Buybacks
500
250
0.0
+100.0%
Dividends paid
145
141
135
+2.9%
Dividend per share
$1.34
$1.28
$1.22
+4.7%
Diluted shares, weighted
109m
112m
113m
-2.6%
Shares outstanding at period end
106m
111m
113m
-4.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,585
3,675
3,795
-2.4%
Non-controlling interest
174
143
148
+21.4%
Debt
1,705
1,837
2,369
-7.2%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
2,117
2,096
1,849
+1.0%
Total liabilities and equity
7,582
7,751
8,161
-2.2%
Fixed assets
3,021
2,493
2,360
+21.2%
Goodwill
1,567
1,610
1,540
-2.7%
Intangible assets
386
422
355
-8.4%
Investments
33.5
30.7
27.6
+9.3%
Cash and equivalents
555
1,137
2,270
-51.2%
Receivables
606
534
486
+13.4%
Inventory
701
593
450
+18.2%
Other assets
712
931
673
-23.5%
Total assets
7,582
7,751
8,161
-2.2%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.