Ball (BALL) FY2018 results: revenue $11.6 billion, up 5.9% on the year
Ball Corp. (BALL) reported revenue of $11.6 billion for fiscal 2018, the year ended 31 December 2018, up 5.9% on the year before. Net income was $454 million, up 21.4%, and diluted earnings per share $1.29. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$11.6 billion
+5.9% on the year
FY2011FY2018
Operating margin
8.0%
7.3% a year earlier
FY2011FY2018
Net income
$454 million
+21.4% on the year
FY2011FY2018
Diluted EPS
$1.29
+22.9% 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
11,635
10,983
9,061
+5.9%
Cost of revenue
9,329
8,717
n/a
+7.0%
Gross profit
1,798
1,757
1,420
+2.3%
Gross margin
15.5%
16.0%
15.7%
Research and development
32.0
27.0
28.0
+18.5%
Selling, general and administrative
478
514
512
-7.0%
Operating income
935
802
463
+16.6%
Operating margin
8.0%
7.3%
5.1%
Interest expense
301
285
229
+5.6%
Pre-tax income
633
514
125
+23.2%
Income tax
185
165
-126
+12.1%
Effective tax rate
29.2%
32.1%
-100.8%
Net income
454
374
263
+21.4%
Net margin
3.9%
3.4%
2.9%
Diluted EPS
$1.29
$1.05
$0.81
+22.9%
$ 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
1,566
1,478
193
+6.0%
Capital expenditure
816
556
606
+46.8%
Free cash flow
750
922
-413
-18.7%
Free cash flow margin
6.4%
8.4%
-4.6%
Cash from investing
-206
-545
-1,283
Cash from financing
-1,040
-1,073
-387
Depreciation and amortisation
702
729
453
-3.7%
Share-based compensation
75.0
46.0
35.0
+63.0%
Buybacks
739
103
107
+617.5%
Dividends paid
137
129
83.0
+6.2%
Dividend per share
$0.40
$0.36
$0.26
+9.6%
Diluted shares, weighted
352m
357m
323m
-1.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,458
3,941
3,435
-12.3%
Non-controlling interest
104
105
106
-1.0%
Debt
6,518
6,631
7,389
-1.7%
Other liabilities
6,474
6,492
5,243
-0.3%
Total liabilities and equity
16,554
17,169
16,173
-3.6%
Fixed assets
4,542
4,610
4,387
-1.5%
Goodwill
4,475
4,933
5,095
-9.3%
Intangible assets
2,188
2,462
1,934
-11.1%
Cash and equivalents
721
448
597
+60.9%
Receivables
1,280
1,343
1,158
-4.7%
Inventory
1,271
1,526
1,413
-16.7%
Other assets
2,077
1,847
1,589
+12.5%
Total assets
16,554
17,169
16,173
-3.6%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.