DXP Enterprises (DXPE) FY2018 results: revenue $1.2 billion, up 21.0% on the year
DXP Enterprises Inc. (DXPE) reported revenue of $1.2 billion for fiscal 2018, the year ended 31 December 2018, up 21.0% on the year before. Net income was $38 million, up 127.1%, and diluted earnings per share $2.08. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2019.
Revenue
$1.2 billion
+21.0% on the year
FY2011FY2018
Operating margin
5.9%
3.3% a year earlier
FY2011FY2018
Net income
$38 million
+127.1% on the year
FY2011FY2018
Diluted EPS
$2.08
+123.7% 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
1,219
1,007
962
+21.0%
Cost of revenue
884
735
697
+20.2%
Gross profit
336
272
265
+23.7%
Gross margin
27.6%
27.0%
27.5%
Selling, general and administrative
264
238
245
+10.8%
Operating income
72.1
33.5
19.3
+115.2%
Operating margin
5.9%
3.3%
2.0%
Interest expense
20.9
17.1
15.6
+22.8%
Pre-tax income
52.3
16.9
9.7
+209.9%
Income tax
14.1
0.4
2.5
+3,786.2%
Effective tax rate
27.0%
2.1%
26.1%
Net income
38.3
16.9
7.7
+127.1%
Net margin
3.1%
1.7%
0.8%
Diluted EPS
$2.08
$0.93
$0.49
+123.7%
$ 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
35.8
12.5
48.2
+185.7%
Capital expenditure
9.3
2.8
4.9
+231.7%
Free cash flow
26.5
9.7
43.4
+172.4%
Free cash flow margin
2.2%
1.0%
4.5%
Cash from investing
-17.6
-2.8
27.8
Cash from financing
-2.9
14.2
-76.1
Depreciation and amortisation
26.2
27.8
30.0
-5.8%
Share-based compensation
2.5
1.7
3.6
+49.2%
Dividends paid
0.1
0.1
0.1
0.0%
Diluted shares, weighted
18m
18m
16m
+0.8%
Shares outstanding at period end
n/a
17m
17m
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
307
268
252
+14.5%
Non-controlling interest
1.4
0.6
0.9
+148.0%
Debt
240
242
225
-0.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
155
129
125
+20.7%
Total liabilities and equity
704
639
602
+10.1%
Fixed assets
51.3
53.3
60.8
-3.8%
Goodwill
194
188
188
+3.4%
Intangible assets
67.2
78.5
94.8
-14.4%
Cash and equivalents
40.3
22.0
1.6
+82.8%
Receivables
196
167
149
+17.1%
Inventory
116
91.4
83.7
+26.4%
Other assets
39.5
38.9
24.6
+1.4%
Total assets
704
639
602
+10.1%
10-K for the year ended 31 December 2018, filed 8 March 2019: the filing.