Arrow Electronics (ARW) FY2018 results: revenue $29.7 billion, up 11.8% on the year
Arrow Electronics, Inc. (ARW) reported revenue of $29.7 billion for fiscal 2018, the year ended 31 December 2018, up 11.8% on the year before. Net income was $716 million, up 78.2%, and diluted earnings per share $8.10. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$29.7 billion
+11.8% on the year
FY2011FY2018
Operating margin
3.9%
3.6% a year earlier
FY2011FY2018
Net income
$716 million
+78.2% on the year
FY2011FY2018
Diluted EPS
$8.10
+80.8% 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
29,677
26,555
23,488
+11.8%
Cost of revenue
25,976
23,198
20,344
+12.0%
Gross profit
3,701
3,357
3,144
+10.2%
Gross margin
12.5%
12.6%
13.4%
Selling, general and administrative
2,303
2,163
2,047
+6.5%
Operating income
1,148
946
877
+21.3%
Operating margin
3.9%
3.6%
3.7%
Income tax
188
287
191
-34.5%
Net income
716
402
523
+78.2%
Net margin
2.4%
1.5%
2.2%
Diluted EPS
$8.10
$4.48
$5.68
+80.8%
$ 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
273
125
360
+118.9%
Capital expenditure
135
204
165
-33.6%
Free cash flow
137
-79.4
195
Free cash flow margin
0.5%
-0.3%
0.8%
Cash from investing
-463
-189
-241
Cash from financing
-36.8
257
162
Depreciation and amortisation
186
154
159
+21.3%
Share-based compensation
46.2
39.1
39.8
+18.2%
Buybacks
243
174
216
+39.6%
Diluted shares, weighted
88m
90m
92m
-1.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,325
4,952
4,413
+7.5%
Non-controlling interest
51.4
48.7
52.2
+5.5%
Debt
3,485
3,290
2,790
+5.9%
Other liabilities
8,923
8,173
6,951
+9.2%
Total liabilities and equity
17,784
16,463
14,206
+8.0%
Fixed assets
825
838
756
-1.6%
Goodwill
2,625
2,470
2,392
+6.3%
Intangible assets
373
286
337
+30.2%
Cash and equivalents
509
730
534
-30.2%
Receivables
8,945
8,126
6,747
+10.1%
Inventory
3,879
3,303
2,856
+17.4%
Other assets
629
710
584
-11.4%
Total assets
17,784
16,463
14,206
+8.0%
10-K for the year ended 31 December 2018, filed 7 February 2019: the filing.