Allegion (ALLE) FY2018 results: revenue $2.7 billion, up 13.4% on the year
Allegion plc (ALLE) reported revenue of $2.7 billion for fiscal 2018, the year ended 31 December 2018, up 13.4% on the year before. Net income was $435 million, up 59.1%, and diluted earnings per share $4.54. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$2.7 billion
+13.4% on the year
FY2012FY2018
Operating margin
19.2%
20.5% a year earlier
FY2012FY2018
Net income
$435 million
+59.1% on the year
FY2012FY2018
Diluted EPS
$4.54
+59.3% on the year
FY2012FY2018
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
2,732
2,408
2,238
+13.4%
Cost of revenue
1,558
1,338
1,248
+16.5%
Gross profit
1,173
1,071
990
+9.6%
Gross margin
43.0%
44.5%
44.2%
Research and development
54.4
48.3
47.3
+12.6%
Selling, general and administrative
648
580
555
+11.6%
Operating income
526
492
434
+6.8%
Operating margin
19.2%
20.5%
19.4%
Interest expense
54.0
106
64.3
-48.9%
Pre-tax income
475
396
295
+20.1%
Income tax
39.8
119
63.8
-66.6%
Effective tax rate
8.4%
30.1%
21.6%
Net income
435
273
229
+59.1%
Net margin
15.9%
11.3%
10.2%
Diluted EPS
$4.54
$2.85
$2.36
+59.3%
$ 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
458
347
378
+31.9%
Capital expenditure
49.1
49.3
42.5
-0.4%
Free cash flow
409
298
335
+37.2%
Free cash flow margin
15.0%
12.4%
15.0%
Cash from investing
-444
-50.2
-64.0
Cash from financing
-183
-151
-196
Depreciation and amortisation
82.3
61.6
61.4
+33.6%
Share-based compensation
19.6
16.2
16.6
+21.0%
Buybacks
67.3
60.0
85.1
+12.2%
Dividends paid
79.4
60.9
46.0
+30.4%
Dividend per share
$0.84
$0.64
$0.48
+31.2%
Diluted shares, weighted
96m
96m
97m
-0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
651
402
113
+62.1%
Non-controlling interest
3.0
3.9
3.1
-23.1%
Debt
1,445
1,477
1,464
-2.2%
Other liabilities
711
659
667
+7.9%
Total liabilities and equity
2,810
2,542
2,247
+10.6%
Fixed assets
277
252
227
+9.7%
Goodwill
883
761
717
+16.0%
Intangible assets
547
394
357
+38.8%
Cash and equivalents
284
466
312
-39.1%
Receivables
325
297
260
+9.5%
Inventory
280
240
221
+16.9%
Other assets
214
132
154
+62.8%
Total assets
2,810
2,542
2,247
+10.6%
10-K for the year ended 31 December 2018, filed 18 February 2020: the filing.