EchoStar (ECHO) FY2018 results: revenue $1.8 billion, up 15.6% on the year
EchoStar Corp. (ECHO) reported revenue of $1.8 billion for fiscal 2018, the year ended 31 December 2018, up 15.6% on the year before. Net income was -$40 million, and diluted earnings per share $-0.42. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$1.8 billion
+15.6% on the year
FY2011FY2018
Operating margin
2.1%
2.0% a year earlier
FY2011FY2018
Net income
-$40 million
FY2011FY2018
Diluted EPS
-$0.42
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
1,763
1,525
1,810
+15.6%
Cost of revenue
n/a
758
725
Gross profit
n/a
n/a
1,085
Gross margin
n/a
n/a
59.9%
Research and development
27.6
31.7
31.2
-13.2%
Selling, general and administrative
436
370
325
+17.7%
Operating income
36.1
30.6
296
+18.2%
Operating margin
2.1%
2.0%
16.4%
Interest expense
219
184
124
+18.9%
Pre-tax income
-126
-32.2
217
Income tax
6.6
-155
80.3
Effective tax rate
n/a
n/a
37.0%
Net income
-40.5
393
180
Net margin
-2.3%
25.7%
9.9%
Diluted EPS
-$0.42
$4.07
$1.92
$ 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
735
727
803
+1.0%
Capital expenditure
555
583
722
-4.8%
Free cash flow
179
144
81.0
+24.8%
Free cash flow margin
10.2%
9.4%
4.5%
Cash from investing
-2,098
-868
-632
Cash from financing
-137
0.1
1,476
Depreciation and amortisation
457
386
433
+18.5%
Share-based compensation
10.0
10.1
15.2
-1.1%
Buybacks
33.3
0.0
0.0
Diluted shares, weighted
96m
97m
94m
-0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,140
4,163
3,920
-0.5%
Non-controlling interest
15.3
14.8
86.7
+3.1%
Debt
3,304
3,365
3,358
-1.8%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,202
1,207
1,644
-0.5%
Total liabilities and equity
8,661
8,750
9,009
-1.0%
Fixed assets
2,535
3,465
3,398
-26.9%
Goodwill
504
504
504
0.0%
Intangible assets
430
471
80.7
-8.8%
Investments
2,282
814
523
+180.3%
Cash and equivalents
928
2,431
2,571
-61.8%
Receivables
201
197
183
+2.2%
Inventory
75.4
83.6
62.6
-9.8%
Other assets
1,705
783
1,687
+117.8%
Total assets
8,661
8,750
9,009
-1.0%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.