Evertec (EVTC) FY2018 results: revenue $454 million, up 11.5% on the year
Evertec, Inc. (EVTC) reported revenue of $454 million for fiscal 2018, the year ended 31 December 2018, up 11.5% on the year before. Net income was $86 million, up 56.7%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$454 million
+11.5% on the year
FY2011FY2018
Operating margin
27.6%
21.1% a year earlier
FY2011FY2018
Net income
$86 million
+56.7% on the year
FY2011FY2018
Diluted EPS
$1.16
+52.6% 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
454
407
390
+11.5%
Cost of revenue
n/a
2.9
2.2
Gross profit
n/a
404
387
Gross margin
n/a
99.3%
99.4%
Selling, general and administrative
68.7
56.2
47.0
+22.4%
Operating income
125
86.1
107
+45.4%
Operating margin
27.6%
21.1%
27.5%
Interest expense
30.0
29.9
24.6
+0.6%
Pre-tax income
99.2
60.2
83.4
+64.7%
Income tax
12.6
4.8
8.3
+163.5%
Effective tax rate
12.7%
7.9%
9.9%
Net income
86.3
55.1
75.0
+56.7%
Net margin
19.0%
13.5%
19.3%
Diluted EPS
$1.16
$0.76
$1.01
+52.6%
$ 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
173
146
168
+18.5%
Capital expenditure
13.9
11.3
18.4
+23.4%
Free cash flow
159
134
150
+18.1%
Free cash flow margin
35.0%
33.0%
38.4%
Cash from investing
-41.3
-76.3
-57.8
Cash from financing
-105
-69.2
-90.8
Depreciation and amortisation
14.5
14.7
14.2
-1.4%
Share-based compensation
12.6
9.6
6.4
+30.6%
Buybacks
10.0
7.7
39.9
+30.4%
Dividends paid
7.3
21.8
29.7
-66.6%
Dividend per share
$0.10
$0.30
$0.40
-66.7%
Diluted shares, weighted
74m
73m
74m
+2.1%
Shares outstanding at period end
72m
72m
73m
-0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
211
144
105
+46.7%
Non-controlling interest
4.1
3.9
3.5
+7.3%
Short-term borrowings
0.0
12.0
28.0
Debt
539
617
651
-12.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
173
126
98.7
+37.3%
Total liabilities and equity
927
903
886
+2.7%
Fixed assets
36.8
37.9
38.9
-3.1%
Goodwill
395
399
371
-1.0%
Intangible assets
259
280
299
-7.4%
Cash and equivalents
70.0
50.4
51.9
+38.8%
Receivables
100
83.3
77.8
+20.4%
Other assets
66.3
52.6
46.9
+26.1%
Total assets
927
903
886
+2.7%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.