Aptiv (APTV) FY2018 results: revenue $14.4 billion, up 12.0% on the year
Aptiv plc (APTV) reported revenue of $14.4 billion for fiscal 2018, the year ended 31 December 2018, up 12.0% on the year before. Net income was $1.1 billion, down 21.3%, and diluted earnings per share $4.02. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2019.
Revenue
$14.4 billion
+12.0% on the year
FY2011FY2018
Operating margin
10.2%
11.0% a year earlier
FY2011FY2018
Net income
$1.1 billion
-21.3% on the year
FY2011FY2018
Diluted EPS
$4.02
-20.6% 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
14,435
12,884
12,274
+12.0%
Cost of revenue
11,706
10,270
9,527
+14.0%
Gross profit
2,729
2,614
2,747
+4.4%
Gross margin
18.9%
20.3%
22.4%
Research and development
1,155
882
800
+31.0%
Selling, general and administrative
993
952
924
+4.3%
Operating income
1,473
1,416
1,539
+4.0%
Operating margin
10.2%
11.0%
12.5%
Interest expense
141
140
155
+0.7%
Pre-tax income
1,334
1,255
1,000
+6.3%
Income tax
250
223
167
+12.1%
Effective tax rate
18.7%
17.8%
16.7%
Net income
1,067
1,355
1,257
-21.3%
Net margin
7.4%
10.5%
10.2%
Diluted EPS
$4.02
$5.06
$4.59
-20.6%
$ 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
1,628
1,468
1,941
+10.9%
Capital expenditure
846
698
657
+21.2%
Free cash flow
782
770
1,284
+1.6%
Free cash flow margin
5.4%
6.0%
10.5%
Cash from investing
-2,048
-1,252
-578
Cash from financing
-555
456
-1,081
Depreciation and amortisation
676
546
489
+23.8%
Share-based compensation
58.0
62.0
62.0
-6.5%
Buybacks
499
383
634
+30.3%
Dividends paid
233
310
317
-24.8%
Dividend per share
$0.88
$1.38
$1.16
-36.2%
Diluted shares, weighted
265m
268m
274m
-1.0%
Shares outstanding at period end
260m
266m
270m
-2.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,459
3,299
2,401
+4.8%
Non-controlling interest
211
218
362
-3.2%
Debt
4,344
4,149
3,963
+4.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
4,466
4,503
5,566
-0.8%
Total liabilities and equity
12,480
12,169
12,292
+2.6%
Fixed assets
3,179
2,804
2,325
+13.4%
Goodwill
2,524
1,944
1,502
+29.8%
Intangible assets
1,380
1,219
1,148
+13.2%
Cash and equivalents
567
1,596
737
-64.5%
Receivables
2,487
2,440
2,130
+1.9%
Inventory
1,277
1,083
859
+17.9%
Other assets
1,066
1,083
3,591
-1.6%
Total assets
12,480
12,169
12,292
+2.6%
10-K for the year ended 31 December 2018, filed 4 February 2019: the filing.