Quest Diagnostics (DGX) FY2018 results: revenue $7.5 billion, up 1.7% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.5 billion for fiscal 2018, the year ended 31 December 2018, up 1.7% on the year before. Net income was $736 million, down 4.7%, and diluted earnings per share $5.29. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$7.5 billion
+1.7% on the year
FY2011FY2018
Operating margin
14.6%
15.7% a year earlier
FY2011FY2018
Net income
$736 million
-4.7% on the year
FY2011FY2018
Diluted EPS
$5.29
-3.8% 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
7,531
7,402
7,214
+1.7%
Cost of revenue
4,926
4,719
4,616
+4.4%
Gross profit
2,605
2,683
2,598
-2.9%
Gross margin
34.6%
36.2%
36.0%
Selling, general and administrative
1,424
1,443
1,380
-1.3%
Operating income
1,101
1,165
1,277
-5.5%
Operating margin
14.6%
15.7%
17.7%
Interest expense
169
153
144
+10.5%
Pre-tax income
926
1,030
1,086
-10.1%
Income tax
182
241
429
-24.5%
Effective tax rate
19.7%
23.4%
39.5%
Net income
736
772
645
-4.7%
Net margin
9.8%
10.4%
8.9%
Diluted EPS
$5.29
$5.50
$4.51
-3.8%
$ 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
1,200
1,175
1,116
+2.1%
Capital expenditure
383
252
293
+52.0%
Free cash flow
817
923
823
-11.5%
Free cash flow margin
10.8%
12.5%
11.4%
Cash from investing
-801
-830
-127
Cash from financing
-401
-592
-738
Depreciation and amortisation
309
270
249
+14.4%
Share-based compensation
61.0
79.0
69.0
-22.8%
Buybacks
322
465
590
-30.8%
Dividends paid
266
247
223
+7.7%
Dividend per share
n/a
$1.80
$1.65
Diluted shares, weighted
139m
140m
142m
-0.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,216
4,921
4,628
+6.0%
Non-controlling interest
51.0
34.0
32.0
+50.0%
Redeemable equity
77.0
80.0
77.0
-3.8%
Debt
3,893
3,784
3,734
+2.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,766
1,684
1,629
+4.9%
Total liabilities and equity
11,003
10,503
10,100
+4.8%
Fixed assets
1,288
1,145
1,029
+12.5%
Goodwill
6,563
6,335
6,000
+3.6%
Intangible assets
1,207
1,119
949
+7.9%
Securities held for sale or to maturity
0.0
n/a
n/a
Cash and equivalents
135
137
359
-1.5%
Receivables
1,012
924
926
+9.5%
Inventory
99.0
95.0
82.0
+4.2%
Other assets
699
748
755
-6.6%
Total assets
11,003
10,503
10,100
+4.8%
10-K for the year ended 31 December 2018, filed 20 February 2020: the filing.