Boeing (BA) FY2018 results: revenue $101.1 billion, up 7.6% on the year
Boeing Co. (BA) reported revenue of $101.1 billion for fiscal 2018, the year ended 31 December 2018, up 7.6% on the year before. Net income was $10.5 billion, up 23.7%, and diluted earnings per share $17.85. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$101.1 billion
+7.6% on the year
FY2011FY2018
Operating margin
11.9%
11.0% a year earlier
FY2011FY2018
Net income
$10.5 billion
+23.7% on the year
FY2011FY2018
Diluted EPS
$17.85
+28.9% 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
101,127
94,005
93,496
+7.6%
Cost of revenue
81,490
76,612
79,026
+6.4%
Gross profit
19,637
17,393
14,470
+12.9%
Gross margin
19.4%
18.5%
15.5%
Research and development
3,269
3,179
4,627
+2.8%
Operating income
11,987
10,344
6,527
+15.9%
Operating margin
11.9%
11.0%
7.0%
Pre-tax income
11,604
10,107
5,783
+14.8%
Income tax
1,144
1,649
749
-30.6%
Effective tax rate
9.9%
16.3%
13.0%
Net income
10,460
8,458
5,034
+23.7%
Net margin
10.3%
9.0%
5.4%
Diluted EPS
$17.85
$13.85
$7.83
+28.9%
$ 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
15,322
13,344
10,499
+14.8%
Capital expenditure
1,722
1,739
2,613
-1.0%
Free cash flow
13,600
11,605
7,886
+17.2%
Free cash flow margin
13.4%
12.3%
8.4%
Cash from investing
-4,621
-2,062
-3,380
Cash from financing
-11,722
-11,350
-9,587
Depreciation and amortisation
2,114
2,047
1,889
+3.3%
Share-based compensation
202
202
190
0.0%
Buybacks
9,000
9,236
7,001
-2.6%
Dividends paid
3,946
3,417
2,756
+15.5%
Dividend per share
$7.19
$5.97
$4.69
+20.4%
Diluted shares, weighted
586m
610m
643m
-4.0%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
339
1,656
817
-79.5%
Non-controlling interest
71.0
57.0
60.0
+24.6%
Debt
13,847
11,117
9,952
+24.6%
Other liabilities
103,102
99,532
79,168
+3.6%
Total liabilities and equity
117,359
112,362
89,997
+4.4%
Fixed assets
12,645
12,672
12,807
-0.2%
Goodwill
7,840
5,559
5,324
+41.0%
Intangible assets
3,429
2,573
2,540
+33.3%
Investments
2,014
2,439
2,545
-17.4%
Cash and equivalents
7,637
8,813
8,801
-13.3%
Receivables
3,879
2,894
8,832
+34.0%
Other assets
79,915
77,412
49,148
+3.2%
Total assets
117,359
112,362
89,997
+4.4%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.