Cabot (CBT) FY2018 results: revenue $3.2 billion, up 19.3% on the year
Cabot Corp. (CBT) reported revenue of $3.2 billion for fiscal 2018, the year ended 30 September 2018, up 19.3% on the year before. Net income was -$113 million, and diluted earnings per share $-1.85. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2018.
Revenue
$3.2 billion
+19.3% on the year
FY2011FY2018
Operating margin
4.4%
12.4% a year earlier
FY2011FY2018
Net income
-$113 million
FY2011FY2018
Diluted EPS
-$1.85
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
3,242
2,717
2,411
+19.3%
Cost of revenue
2,470
2,060
1,833
+19.9%
Gross profit
772
657
575
+17.5%
Gross margin
23.8%
24.2%
23.8%
Research and development
66.0
57.0
53.0
+15.8%
Selling, general and administrative
308
262
275
+17.6%
Operating income
144
338
247
-57.4%
Operating margin
4.4%
12.4%
10.2%
Interest expense
54.0
53.0
54.0
+1.9%
Pre-tax income
117
299
191
-60.9%
Income tax
193
33.0
33.0
+484.8%
Effective tax rate
165.0%
11.0%
17.3%
Net income
-113
248
147
Net margin
-3.5%
9.1%
6.1%
Diluted EPS
-$1.85
$3.91
$2.32
$ 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
298
348
392
-14.4%
Capital expenditure
229
147
112
+55.8%
Free cash flow
69.0
201
280
-65.7%
Free cash flow margin
2.1%
7.4%
11.6%
Cash from investing
-246
-149
-104
Cash from financing
-141
-133
-184
Depreciation and amortisation
149
155
161
-3.9%
Share-based compensation
22.0
16.0
17.0
+37.5%
Buybacks
142
61.0
45.0
+132.8%
Dividends paid
80.0
77.0
65.0
+3.9%
Dividend per share
$1.29
$1.23
$1.04
+4.9%
Diluted shares, weighted
62m
63m
63m
-1.6%
Shares outstanding at period end
60m
62m
62m
-2.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,154
1,504
1,274
-23.3%
Non-controlling interest
125
121
98.0
+3.3%
Redeemable equity
n/a
27.0
26.0
Debt
1,003
924
922
+8.5%
Other liabilities
962
762
732
+26.2%
Total liabilities and equity
3,244
3,338
3,052
-2.8%
Fixed assets
1,296
1,305
1,290
-0.7%
Goodwill
93.0
154
152
-39.6%
Intangible assets
98.0
137
140
-28.5%
Cash and equivalents
175
280
200
-37.5%
Inventory
511
433
342
+18.0%
Other assets
1,071
1,029
928
+4.1%
Total assets
3,244
3,338
3,052
-2.8%
10-K for the year ended 30 September 2018, filed 21 November 2018: the filing.