Ford Motor (F) FY2018 results: revenue $160.3 billion, up 2.3% on the year
Ford Motor Co. (F) reported revenue of $160.3 billion for fiscal 2018, the year ended 31 December 2018, up 2.3% on the year before. Net income was $3.7 billion, down 52.4%, and diluted earnings per share $0.92. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$160.3 billion
+2.3% on the year
FY2011FY2018
Operating margin
2.0%
3.1% a year earlier
FY2011FY2018
Net income
$3.7 billion
-52.4% on the year
FY2011FY2018
Diluted EPS
$0.92
-52.3% 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
160,338
156,776
151,800
+2.3%
Cost of revenue
136,269
131,332
126,195
+3.8%
Gross profit
24,069
25,444
25,605
-5.4%
Gross margin
15.0%
16.2%
16.9%
Research and development
8,200
8,000
7,300
+2.5%
Selling, general and administrative
11,403
11,527
10,972
-1.1%
Operating income
3,203
4,881
5,786
-34.4%
Operating margin
2.0%
3.1%
3.8%
Interest expense
5,157
4,364
894
+18.2%
Pre-tax income
4,345
8,148
6,796
-46.7%
Income tax
650
402
2,184
+61.7%
Effective tax rate
15.0%
4.9%
32.1%
Net income
3,677
7,731
4,596
-52.4%
Net margin
2.3%
4.9%
3.0%
Diluted EPS
$0.92
$1.93
$1.15
-52.3%
$ 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
15,022
18,096
19,850
-17.0%
Capital expenditure
7,785
7,049
6,992
+10.4%
Free cash flow
7,237
11,047
12,858
-34.5%
Free cash flow margin
4.5%
7.0%
8.5%
Cash from investing
-16,261
-19,360
n/a
Cash from financing
-122
3,394
n/a
Depreciation and amortisation
9,385
9,241
n/a
+1.6%
Share-based compensation
191
246
210
-22.4%
Buybacks
164
131
145
+25.2%
Dividends paid
2,905
2,584
3,376
+12.4%
Dividend per share
$0.73
$0.65
$0.85
+12.3%
Diluted shares, weighted
3,998m
3,998m
3,999m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
35,932
35,578
29,170
+1.0%
Non-controlling interest
34.0
28.0
17.0
+21.4%
Redeemable equity
100
98.0
96.0
+2.0%
Debt
600
n/a
n/a
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
219,874
222,792
209,227
-1.3%
Total liabilities and equity
256,540
258,496
238,510
-0.8%
Fixed assets
36,178
35,327
32,072
+2.4%
Goodwill
264
75.0
50.0
+252.0%
Intangible assets
178
213
198
-16.4%
Investments
17,233
20,435
22,922
-15.7%
Cash and equivalents
16,718
18,492
15,905
-9.6%
Receivables
11,195
10,599
11,102
+5.6%
Inventory
11,220
11,176
8,898
+0.4%
Other assets
163,554
162,179
147,363
+0.8%
Total assets
256,540
258,496
238,510
-0.8%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.