Crane Nxt (CXT) FY2018 results: revenue $3.3 billion, up 20.1% on the year
Crane Nxt, Co. (CXT) reported revenue of $3.3 billion for fiscal 2018, the year ended 31 December 2018, up 20.1% on the year before. Net income was $336 million, up 95.3%, and diluted earnings per share $5.50. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$3.3 billion
+20.1% on the year
FY2011FY2018
Operating margin
13.2%
13.9% a year earlier
FY2011FY2018
Net income
$336 million
+95.3% on the year
FY2011FY2018
Diluted EPS
$5.50
+93.7% 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
3,346
2,786
2,748
+20.1%
Cost of revenue
2,156
1,771
1,758
+21.8%
Gross profit
1,189
1,015
990
+17.2%
Gross margin
35.5%
36.4%
36.0%
Research and development
89.1
58.5
61.5
+52.3%
Selling, general and administrative
712
606
611
+17.5%
Operating income
441
388
187
+13.6%
Operating margin
13.2%
13.9%
6.8%
Interest expense
50.9
36.1
36.5
+41.0%
Pre-tax income
411
368
164
+11.9%
Income tax
75.9
195
40.3
-61.1%
Effective tax rate
18.4%
53.1%
24.6%
Net income
336
172
123
+95.3%
Net margin
10.0%
6.2%
4.5%
Diluted EPS
$5.50
$2.84
$2.07
+93.7%
$ 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
414
318
318
+30.3%
Capital expenditure
109
49.0
51.5
+122.0%
Free cash flow
305
268
267
+13.6%
Free cash flow margin
9.1%
9.6%
9.7%
Cash from investing
-752
-86.7
-50.6
Cash from financing
-7.9
-80.8
-100
Depreciation and amortisation
120
72.7
67.4
+65.1%
Share-based compensation
21.6
21.8
21.7
-0.9%
Buybacks
50.1
25.0
0.0
+100.4%
Dividends paid
83.5
78.4
77.2
+6.5%
Dividend per share
$1.40
$1.32
n/a
+6.1%
Diluted shares, weighted
61m
60m
59m
+1.0%
Shares outstanding at period end
60m
59m
59m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,524
1,345
1,134
+13.3%
Non-controlling interest
2.9
3.3
11.9
-12.1%
Debt
949
744
745
+27.7%
Other liabilities
1,566
1,502
1,537
+4.3%
Total liabilities and equity
4,043
3,594
3,428
+12.5%
Fixed assets
599
282
279
+112.1%
Goodwill
1,404
1,207
1,149
+16.3%
Intangible assets
478
277
282
+72.8%
Cash and equivalents
343
706
510
-51.4%
Receivables
516
418
396
+23.3%
Inventory
412
349
342
+17.8%
Other assets
291
354
469
-17.7%
Total assets
4,043
3,594
3,428
+12.5%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.