Fiserv (FISV) FY2018 results: revenue $5.8 billion, up 2.2% on the year
Fiserv Inc. (FISV) reported revenue of $5.8 billion for fiscal 2018, the year ended 31 December 2018, up 2.2% on the year before. Net income was $1.2 billion, down 4.7%, and diluted earnings per share $2.87. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$5.8 billion
+2.2% on the year
FY2011FY2018
Operating margin
30.1%
26.9% a year earlier
FY2011FY2018
Net income
$1.2 billion
-4.7% on the year
FY2011FY2018
Diluted EPS
$2.87
-0.7% 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
5,823
5,696
5,505
+2.2%
Cost of revenue
3,069
3,024
2,959
+1.5%
Gross profit
2,754
2,672
2,546
+3.1%
Gross margin
47.3%
46.9%
46.2%
Selling, general and administrative
1,228
1,150
1,101
+6.8%
Operating income
1,753
1,532
1,445
+14.4%
Operating margin
30.1%
26.9%
26.2%
Interest expense
193
176
163
+9.7%
Pre-tax income
1,555
1,358
1,275
+14.5%
Income tax
378
158
492
+139.2%
Effective tax rate
24.3%
11.6%
38.6%
Net income
1,187
1,246
930
-4.7%
Net margin
20.4%
21.9%
16.9%
Diluted EPS
$2.87
$2.89
$2.08
-0.7%
$ 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
1,552
1,502
1,431
+3.3%
Capital expenditure
360
287
290
+25.4%
Free cash flow
1,192
1,215
1,141
-1.9%
Free cash flow margin
20.5%
21.3%
20.7%
Cash from investing
-663
n/a
n/a
Cash from financing
-842
n/a
n/a
Depreciation and amortisation
556
444
421
+25.2%
Share-based compensation
73.0
63.0
68.0
+15.9%
Buybacks
1,946
1,223
1,245
+59.1%
Diluted shares, weighted
414m
431m
448m
-4.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,293
2,731
2,541
-16.0%
Non-controlling interest
0.0
n/a
n/a
Redeemable equity
0.0
n/a
n/a
Debt
5,955
4,897
4,562
+21.6%
Other liabilities
3,014
2,661
2,640
+13.3%
Total liabilities and equity
11,262
10,289
9,743
+9.5%
Fixed assets
398
390
405
+2.1%
Goodwill
5,702
5,590
5,373
+2.0%
Intangible assets
2,143
1,882
1,833
+13.9%
Cash and equivalents
415
325
300
+27.7%
Receivables
1,049
997
902
+5.2%
Other assets
1,555
1,105
930
+40.7%
Total assets
11,262
10,289
9,743
+9.5%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.