Duke Energy (DUK) FY2018 results: revenue $24.5 billion, up 4.1% on the year
Duke Energy Corp. (DUK) reported revenue of $24.5 billion for fiscal 2018, the year ended 31 December 2018, up 4.1% on the year before. Net income was $2.7 billion, down 12.8%, and diluted earnings per share $3.76. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$24.5 billion
+4.1% on the year
FY2011FY2018
Operating margin
19.1%
23.9% a year earlier
FY2011FY2018
Net income
$2.7 billion
-12.8% on the year
FY2011FY2018
Diluted EPS
$3.76
-13.8% 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
24,521
23,565
22,743
+4.1%
Cost of revenue
6,831
6,350
6,625
+7.6%
Gross profit
17,690
17,215
16,118
+2.8%
Gross margin
72.1%
73.1%
70.9%
Operating income
4,685
5,625
5,202
-16.7%
Operating margin
19.1%
23.9%
22.9%
Interest expense
2,094
1,986
1,916
+5.4%
Pre-tax income
3,073
4,266
3,734
-28.0%
Income tax
448
1,196
1,156
-62.5%
Effective tax rate
14.6%
28.0%
31.0%
Net income
2,666
3,059
2,152
-12.8%
Net margin
10.9%
13.0%
9.5%
Diluted EPS
$3.76
$4.36
$3.11
-13.8%
$ 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
7,186
6,634
6,863
+8.3%
Capital expenditure
9,389
8,052
7,901
+16.6%
Free cash flow
-2,203
-1,418
-1,038
Free cash flow margin
-9.0%
-6.0%
-4.6%
Cash from investing
-10,060
-8,450
-11,533
Cash from financing
2,960
1,782
4,251
+66.1%
Depreciation and amortisation
4,696
4,046
3,880
+16.1%
Share-based compensation
78.0
68.0
55.0
+14.7%
Dividends paid
2,471
2,450
2,332
+0.9%
Dividend per share
$3.63
$3.49
$3.36
+4.2%
Diluted shares, weighted
708m
700m
691m
+1.1%
Shares outstanding at period end
727m
700m
700m
+3.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
43,817
41,739
41,033
+5.0%
Non-controlling interest
17.0
-2.0
8.0
Short-term borrowings
3,410
2,163
2,487
+57.7%
Debt
54,529
52,279
47,895
+4.3%
Other liabilities
43,619
41,735
41,338
+4.5%
Total liabilities and equity
145,392
137,914
132,761
+5.4%
Fixed assets
91,694
86,391
82,520
+6.1%
Goodwill
19,303
19,396
19,425
-0.5%
Intangible assets
246
230
226
+7.0%
Securities held for sale or to maturity
2,391
2,284
2,208
+4.7%
Trading assets
n/a
n/a
5.0
Cash and equivalents
442
358
392
+23.5%
Receivables
2,172
1,995
1,893
+8.9%
Other assets
29,144
27,260
26,092
+6.9%
Total assets
145,392
137,914
132,761
+5.4%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.