Factset Research Systems (FDS) FY2018 results: revenue $1.4 billion, up 10.6% on the year
Factset Research Systems Inc. (FDS) reported revenue of $1.4 billion for fiscal 2018, the year ended 31 August 2018, up 10.6% on the year before. Net income was $267 million, up 3.4%, and diluted earnings per share $6.78. The figures are the company's own, from the 10-K it filed with the SEC on 30 October 2018.
Revenue
$1.4 billion
+10.6% on the year
FY2011FY2018
Operating margin
27.1%
28.8% a year earlier
FY2011FY2018
Net income
$267 million
+3.4% on the year
FY2011FY2018
Diluted EPS
$6.78
+4.1% 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
1,350
1,221
1,127
+10.6%
Cost of revenue
659
567
487
+16.4%
Gross profit
691
655
640
+5.5%
Gross margin
51.2%
53.6%
56.8%
Research and development
217
215
n/a
+1.0%
Selling, general and administrative
325
302
290
+7.3%
Operating income
366
352
350
+4.0%
Operating margin
27.1%
28.8%
31.0%
Interest expense
15.9
8.4
n/a
+89.3%
Pre-tax income
352
344
461
+2.2%
Income tax
84.8
86.1
122
-1.5%
Effective tax rate
24.1%
25.0%
26.5%
Net income
267
258
339
+3.4%
Net margin
19.8%
21.1%
30.1%
Diluted EPS
$6.78
$6.51
$8.19
+4.1%
$ 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
386
321
331
+20.3%
Capital expenditure
33.5
36.9
47.7
-9.1%
Free cash flow
352
284
283
+24.1%
Free cash flow margin
26.1%
23.2%
25.1%
Cash from investing
-48.5
-347
-158
Cash from financing
-320
-8.2
-91.0
Depreciation and amortisation
57.3
48.3
38.1
+18.6%
Share-based compensation
31.5
34.2
29.8
-7.8%
Buybacks
304
261
357
+16.5%
Dividends paid
89.4
80.9
74.2
+10.5%
Diluted shares, weighted
39m
40m
41m
-0.7%
Shares outstanding at period end
38m
39m
40m
-2.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
526
560
517
-6.0%
Debt
575
575
300
-0.0%
Other liabilities
319
279
202
+14.4%
Total liabilities and equity
1,419
1,413
1,019
+0.4%
Fixed assets
101
100
84.6
+0.1%
Goodwill
702
708
453
-0.8%
Intangible assets
149
174
93.2
-14.2%
Investments
29.3
32.4
24.2
-9.8%
Cash and equivalents
209
195
228
+7.1%
Receivables
157
148
97.8
+5.6%
Other assets
73.6
56.3
38.0
+30.9%
Total assets
1,419
1,413
1,019
+0.4%
10-K for the year ended 31 August 2018, filed 30 October 2018: the filing.