AMETEK (AME) FY2018 results: revenue $4.8 billion, up 12.7% on the year
AMETEK Inc. (AME) reported revenue of $4.8 billion for fiscal 2018, the year ended 31 December 2018, up 12.7% on the year before. Net income was $778 million, up 14.2%, and diluted earnings per share $3.34. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$4.8 billion
+12.7% on the year
FY2011FY2018
Operating margin
22.2%
21.0% a year earlier
FY2011FY2018
Net income
$778 million
+14.2% on the year
FY2011FY2018
Diluted EPS
$3.34
+13.6% 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
4,846
4,300
3,840
+12.7%
Cost of revenue
3,186
2,861
2,585
+11.4%
Gross profit
1,660
1,439
1,255
+15.3%
Gross margin
34.2%
33.5%
32.7%
Research and development
141
130
112
+8.1%
Selling, general and administrative
584
535
463
+9.1%
Operating income
1,076
904
791
+19.0%
Operating margin
22.2%
21.0%
20.6%
Interest expense
82.2
98.0
94.3
-16.2%
Pre-tax income
988
797
693
+24.0%
Income tax
210
115
181
+82.0%
Effective tax rate
21.2%
14.5%
26.1%
Net income
778
681
512
+14.2%
Net margin
16.1%
15.8%
13.3%
Diluted EPS
$3.34
$2.94
$2.19
+13.6%
$ 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
926
833
757
+11.1%
Capital expenditure
82.1
75.1
63.3
+9.3%
Free cash flow
843
758
694
+11.2%
Free cash flow margin
17.4%
17.6%
18.1%
Cash from investing
-1,210
-626
-452
Cash from financing
13.0
-329
57.1
Depreciation and amortisation
199
183
180
+8.9%
Share-based compensation
27.3
25.1
22.0
+8.9%
Buybacks
368
6.9
336
+5,254.3%
Dividends paid
129
82.7
83.3
+55.8%
Dividend per share
$0.56
$0.36
$0.36
+55.6%
Diluted shares, weighted
233m
232m
234m
+0.4%
Shares outstanding at period end
227m
231m
229m
-1.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,242
4,028
3,257
+5.3%
Debt
2,633
2,174
2,342
+21.1%
Other liabilities
1,788
1,594
1,503
+12.1%
Total liabilities and equity
8,662
7,796
7,101
+11.1%
Fixed assets
554
493
473
+12.3%
Goodwill
3,612
3,116
2,819
+15.9%
Intangible assets
2,404
2,013
1,734
+19.4%
Securities held for sale or to maturity
7.7
8.1
7.3
-4.9%
Cash and equivalents
354
646
717
-45.2%
Receivables
733
668
592
+9.7%
Inventory
625
541
492
+15.6%
Other assets
373
311
265
+20.1%
Total assets
8,662
7,796
7,101
+11.1%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.