Bristol-Myers Squibb (BMY) FY2018 results: revenue $22.6 billion, up 8.6% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $22.6 billion for fiscal 2018, the year ended 31 December 2018, up 8.6% on the year before. Net income was $4.9 billion, up 388.6%, and diluted earnings per share $3.01. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$22.6 billion
+8.6% on the year
FY2011FY2018
Operating margin
26.5%
24.7% a year earlier
FY2011FY2018
Net income
$4.9 billion
+388.6% on the year
FY2011FY2018
Diluted EPS
$3.01
+393.4% 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
22,561
20,776
19,427
+8.6%
Cost of revenue
6,467
6,014
4,969
+7.5%
Gross profit
16,094
14,710
14,481
+9.4%
Gross margin
71.3%
70.8%
74.5%
Research and development
6,332
6,468
5,012
-2.1%
Selling, general and administrative
4,551
4,751
4,979
-4.2%
Operating income
5,968
5,131
5,915
+16.3%
Operating margin
26.5%
24.7%
30.4%
Interest expense
183
196
167
-6.6%
Pre-tax income
5,968
5,131
5,915
+16.3%
Income tax
1,021
4,156
1,408
-75.4%
Effective tax rate
17.1%
81.0%
23.8%
Net income
4,920
1,007
4,457
+388.6%
Net margin
21.8%
4.8%
22.9%
Diluted EPS
$3.01
$0.61
$2.65
+393.4%
$ 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
7,066
5,275
3,058
+34.0%
Capital expenditure
951
1,055
1,215
-9.9%
Free cash flow
6,115
4,220
1,843
+44.9%
Free cash flow margin
27.1%
20.3%
9.5%
Cash from investing
-2,000
-66.0
1,480
Cash from financing
-3,535
-4,077
-2,653
Depreciation and amortisation
637
789
382
-19.3%
Share-based compensation
221
199
205
+11.1%
Buybacks
320
2,469
231
-87.0%
Dividends paid
2,613
2,577
2,547
+1.4%
Dividend per share
$1.61
$1.57
$1.53
+2.5%
Diluted shares, weighted
1,637m
1,652m
1,680m
-0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
14,031
11,741
16,177
+19.5%
Non-controlling interest
96.0
106
170
-9.4%
Debt
7,349
7,962
6,708
-7.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
13,510
13,742
10,652
-1.7%
Total liabilities and equity
34,986
33,551
33,707
+4.3%
Fixed assets
5,027
5,001
4,980
+0.5%
Goodwill
6,538
6,863
6,875
-4.7%
Intangible assets
1,091
1,210
1,385
-9.8%
Investments
3,623
3,871
4,832
-6.4%
Cash and equivalents
6,911
5,421
4,237
+27.5%
Receivables
4,636
4,347
3,774
+6.6%
Inventory
1,195
1,166
1,241
+2.5%
Other assets
5,965
5,672
6,383
+5.2%
Total assets
34,986
33,551
33,707
+4.3%
10-K for the year ended 31 December 2018, filed 25 February 2019: the filing.