Broadridge Financial Solutions (BR) FY2018 results: revenue $4.3 billion, up 4.5% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $4.3 billion for fiscal 2018, the year ended 30 June 2018, up 4.5% on the year before. Net income was $428 million, up 30.9%, and diluted earnings per share $3.56. The figures are the company's own, from the 10-K it filed with the SEC on 7 August 2018.
Revenue
$4.3 billion
+4.5% on the year
FY2011FY2018
Operating margin
13.8%
12.8% a year earlier
FY2011FY2018
Net income
$428 million
+30.9% on the year
FY2011FY2018
Diluted EPS
$3.56
+31.9% 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
4,330
4,143
2,897
+4.5%
Cost of revenue
3,170
3,110
1,976
+1.9%
Gross profit
1,160
1,033
921
+12.3%
Gross margin
26.8%
24.9%
31.8%
Selling, general and administrative
565
501
421
+12.8%
Operating income
598
532
500
+12.5%
Operating margin
13.8%
12.8%
17.3%
Interest expense
42.4
44.7
28.4
-5.1%
Pre-tax income
561
488
469
+14.9%
Income tax
133
161
161
-17.5%
Effective tax rate
23.7%
33.1%
34.4%
Net income
428
327
308
+30.9%
Net margin
9.9%
7.9%
10.6%
Diluted EPS
$3.56
$2.70
$2.53
+31.9%
$ 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
694
516
438
+34.4%
Capital expenditure
76.7
85.4
57.7
-10.2%
Free cash flow
617
430
380
+43.3%
Free cash flow margin
14.2%
10.4%
13.1%
Cash from investing
-249
-659
-137
Cash from financing
-450
-312
109
Depreciation and amortisation
82.1
68.6
52.6
+19.7%
Share-based compensation
55.1
46.1
43.1
+19.5%
Buybacks
277
343
120
-19.2%
Dividends paid
166
152
138
+8.9%
Dividend per share
$1.46
$1.32
$1.20
+10.6%
Diluted shares, weighted
120m
121m
122m
-0.3%
Shares outstanding at period end
116m
116m
118m
-0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,094
1,004
1,046
+9.0%
Debt
1,053
1,102
1,016
-4.4%
Other liabilities
1,157
1,044
812
+10.8%
Total liabilities and equity
3,305
3,150
2,873
+4.9%
Fixed assets
204
198
112
+3.0%
Goodwill
1,255
1,159
999
+8.2%
Intangible assets
494
486
210
+1.6%
Investments
80.4
63.5
48.6
+26.6%
Cash and equivalents
264
271
728
-2.7%
Inventory
18.5
17.2
8.2
+7.6%
Other assets
989
954
766
+3.6%
Total assets
3,305
3,150
2,873
+4.9%
10-K for the year ended 30 June 2018, filed 7 August 2018: the filing.