Ashland (ASH) FY2018 results: revenue $2.6 billion, up 12.1% on the year
Ashland Inc. (ASH) reported revenue of $2.6 billion for fiscal 2018, the year ended 30 September 2018, up 12.1% on the year before. Net income was $114 million, up 11300.0%, and diluted earnings per share $1.79. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2018.
Revenue
$2.6 billion
+12.1% on the year
FY2014FY2018
Operating margin
3.9%
2.1% a year earlier
FY2014FY2018
Net income
$114 million
+11,300.0% on the year
FY2014FY2018
Diluted EPS
$1.79
+17,800.0% on the year
FY2014FY2018
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
2,589
2,309
3,019
+12.1%
Cost of revenue
1,726
1,580
2,132
+9.2%
Gross profit
863
729
887
+18.4%
Gross margin
33.3%
31.6%
29.4%
Research and development
73.0
73.0
87.0
0.0%
Selling, general and administrative
599
610
858
-1.8%
Operating income
102
49.0
-50.0
+108.2%
Operating margin
3.9%
2.1%
-1.7%
Interest expense
116
227
180
-48.9%
Pre-tax income
11.0
-196
-308
Income tax
-8.0
-16.0
-25.0
Effective tax rate
-72.7%
n/a
n/a
Net income
114
1.0
-29.0
+11,300.0%
Net margin
4.4%
0.0%
-1.0%
Diluted EPS
$1.79
$0.01
-$0.46
+17,800.0%
$ 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
297
n/a
n/a
Capital expenditure
157
168
231
-6.5%
Free cash flow
140
n/a
n/a
Free cash flow margin
5.4%
n/a
n/a
Cash from financing
-368
n/a
n/a
Depreciation and amortisation
277
265
302
+4.5%
Share-based compensation
27.0
20.0
30.0
+35.0%
Buybacks
n/a
0.0
500
Dividends paid
60.0
77.0
97.0
-22.1%
Dividend per share
$0.95
$1.23
$1.56
-22.8%
Diluted shares, weighted
64m
62m
64m
+3.2%
Shares outstanding at period end
62m
62m
62m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,406
3,406
3,347
0.0%
Non-controlling interest
n/a
0.0
-182
Debt
2,529
2,819
2,495
-10.3%
Other liabilities
2,317
2,393
4,340
-3.2%
Total liabilities and equity
8,252
8,618
10,000
-4.2%
Fixed assets
1,646
1,970
1,900
-16.4%
Goodwill
2,304
2,315
2,138
-0.5%
Intangible assets
1,185
1,319
1,061
-10.2%
Securities held for sale or to maturity
342
n/a
n/a
Cash and equivalents
294
566
1,017
-48.1%
Receivables
522
612
529
-14.7%
Inventory
596
634
539
-6.0%
Other assets
1,363
1,202
2,816
+13.4%
Total assets
8,252
8,618
10,000
-4.2%
10-K for the year ended 30 September 2018, filed 19 November 2018: the filing.