Fortune Brands Innovations (FBIN) FY2018 results: revenue $5.5 billion, up 3.8% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $5.5 billion for fiscal 2018, the year ended 31 December 2018, up 3.8% on the year before. Net income was $390 million, down 17.6%, and diluted earnings per share $2.66. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$5.5 billion
+3.8% on the year
FY2011FY2018
Operating margin
10.9%
12.9% a year earlier
FY2011FY2018
Net income
$390 million
-17.6% on the year
FY2011FY2018
Diluted EPS
$2.66
-12.2% 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
5,485
5,283
4,985
+3.8%
Cost of revenue
3,526
3,358
3,189
+5.0%
Gross profit
1,959
1,925
1,805
+1.8%
Gross margin
35.7%
36.4%
36.2%
Research and development
50.3
50.7
53.1
-0.8%
Selling, general and administrative
1,241
1,195
1,136
+3.9%
Operating income
595
682
619
-12.8%
Operating margin
10.9%
12.9%
12.4%
Interest expense
74.5
49.4
49.1
+50.8%
Pre-tax income
537
635
582
-15.4%
Income tax
147
160
170
-7.8%
Effective tax rate
27.4%
25.1%
29.2%
Net income
390
473
413
-17.6%
Net margin
7.1%
8.9%
8.3%
Diluted EPS
$2.66
$3.03
$2.62
-12.2%
$ 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
604
600
650
+0.6%
Capital expenditure
150
165
149
-9.0%
Free cash flow
454
435
501
+4.3%
Free cash flow margin
8.3%
8.2%
10.1%
Cash from investing
-634
-288
-385
Cash from financing
-6.8
-250
-250
Depreciation and amortisation
150
130
123
+14.8%
Share-based compensation
36.1
43.0
32.0
-16.0%
Buybacks
695
215
424
+223.4%
Dividends paid
115
110
98.2
+4.4%
Dividend per share
$0.82
$0.74
$0.66
+10.8%
Diluted shares, weighted
146m
156m
158m
-6.0%
Shares outstanding at period end
140m
152m
153m
-7.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,178
2,600
2,362
-16.2%
Non-controlling interest
1.8
1.6
1.5
+12.5%
Short-term borrowings
525
n/a
n/a
Debt
2,334
1,508
1,431
+54.8%
Other liabilities
926
1,403
1,334
-34.0%
Total liabilities and equity
5,965
5,511
5,128
+8.2%
Fixed assets
813
740
662
+9.9%
Goodwill
2,080
1,912
1,834
+8.8%
Intangible assets
1,247
1,162
1,107
+7.3%
Cash and equivalents
263
323
252
-18.6%
Receivables
572
555
551
+3.0%
Inventory
679
581
531
+16.9%
Other assets
311
238
192
+30.6%
Total assets
5,965
5,511
5,128
+8.2%
10-K for the year ended 31 December 2018, filed 25 February 2019: the filing.