CMS Energy (CMS) FY2018 results: revenue $6.9 billion, up 4.4% on the year
CMS Energy Corp. (CMS) reported revenue of $6.9 billion for fiscal 2018, the year ended 31 December 2018, up 4.4% on the year before. Net income was $657 million, up 42.8%, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2019.
Revenue
$6.9 billion
+4.4% on the year
FY2011FY2018
Operating margin
16.9%
20.3% a year earlier
FY2011FY2018
Net income
$657 million
+42.8% on the year
FY2011FY2018
Diluted EPS
$2.32
+41.5% 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
6,873
6,583
6,399
+4.4%
Operating income
1,162
1,338
1,256
-13.2%
Operating margin
16.9%
20.3%
19.6%
Interest expense
458
438
435
+4.6%
Pre-tax income
774
886
826
-12.6%
Income tax
115
424
273
-72.9%
Effective tax rate
14.9%
47.9%
33.1%
Net income
657
460
551
+42.8%
Net margin
9.6%
7.0%
8.6%
Diluted EPS
$2.32
$1.64
$1.98
+41.5%
$ 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
1,703
1,705
1,629
-0.1%
Capital expenditure
2,074
1,665
1,672
+24.6%
Free cash flow
-371
40.0
-43.0
Free cash flow margin
-5.4%
0.6%
-0.7%
Cash from investing
-2,606
-1,868
-1,915
Cash from financing
874
110
255
+694.5%
Depreciation and amortisation
933
881
811
+5.9%
Dividends paid
407
377
347
+8.0%
Dividend per share
$1.43
$1.33
$1.24
+7.5%
Diluted shares, weighted
283m
281m
279m
+0.7%
Shares outstanding at period end
283m
282m
279m
+0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,755
4,441
4,253
+7.1%
Non-controlling interest
37.0
37.0
37.0
0.0%
Debt
11,708
10,396
9,924
+12.6%
Other liabilities
8,029
8,176
7,408
-1.8%
Total liabilities and equity
24,529
23,050
21,622
+6.4%
Fixed assets
18,126
16,761
15,715
+8.1%
Securities held for sale or to maturity
22.0
16.0
13.0
+37.5%
Cash and equivalents
153
182
235
-15.9%
Receivables
964
1,032
821
-6.6%
Other assets
5,264
5,059
4,838
+4.1%
Total assets
24,529
23,050
21,622
+6.4%
10-K for the year ended 31 December 2018, filed 5 February 2019: the filing.