Emerson Electric (EMR) FY2018 results: revenue $17.4 billion, up 14.0% on the year
Emerson Electric Co. (EMR) reported revenue of $17.4 billion for fiscal 2018, the year ended 30 September 2018, up 14.0% on the year before. Net income was $2.2 billion, up 45.1%, and diluted earnings per share $3.46. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2018.
Revenue
$17.4 billion
+14.0% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$2.2 billion
+45.1% on the year
FY2011FY2018
Diluted EPS
$3.46
+47.2% 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
17,408
15,264
14,522
+14.0%
Cost of revenue
9,976
8,833
8,260
+12.9%
Gross profit
7,432
6,404
6,262
+16.1%
Gross margin
42.7%
42.0%
43.1%
Research and development
436
340
320
+28.2%
Selling, general and administrative
4,269
3,607
3,464
+18.4%
Pre-tax income
2,667
2,335
2,316
+14.2%
Income tax
443
660
697
-32.9%
Effective tax rate
16.6%
28.3%
30.1%
Net income
2,203
1,518
1,635
+45.1%
Net margin
12.7%
9.9%
11.3%
Diluted EPS
$3.46
$2.35
$2.52
+47.2%
$ 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
2,892
1,912
2,881
+51.3%
Capital expenditure
617
476
447
+29.6%
Free cash flow
2,275
1,436
2,434
+58.4%
Free cash flow margin
13.1%
9.4%
16.8%
Cash from investing
-2,720
1,514
-626
Cash from financing
-2,092
-3,591
-2,045
Depreciation and amortisation
758
636
568
+19.2%
Share-based compensation
216
110
145
+96.4%
Buybacks
1,000
400
601
+150.0%
Dividends paid
1,229
1,239
1,227
-0.8%
Dividend per share
$1.94
$1.92
$1.90
+1.0%
Diluted shares, weighted
635m
643m
647m
-1.3%
Shares outstanding at period end
629m
642m
643m
-1.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
8,947
8,718
7,568
+2.6%
Non-controlling interest
43.0
52.0
50.0
-17.3%
Debt
4,760
4,656
6,635
+2.2%
Other liabilities
6,640
6,163
7,490
+7.7%
Total liabilities and equity
20,390
19,589
21,743
+4.1%
Fixed assets
3,562
3,321
2,931
+7.3%
Goodwill
6,455
5,316
3,909
+21.4%
Intangible assets
2,751
1,890
902
+45.6%
Investments
n/a
n/a
99.0
Cash and equivalents
1,093
3,062
3,182
-64.3%
Receivables
3,023
3,072
2,701
-1.6%
Inventory
1,813
1,696
1,208
+6.9%
Other assets
1,693
1,232
6,811
+37.4%
Total assets
20,390
19,589
21,743
+4.1%
10-K for the year ended 30 September 2018, filed 19 November 2018: the filing.