Comfort Systems USA (FIX) FY2018 results: revenue $2.2 billion, up 22.1% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $2.2 billion for fiscal 2018, the year ended 31 December 2018, up 22.1% on the year before. Net income was $113 million, up 104.3%, and diluted earnings per share $3.00. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$2.2 billion
+22.1% on the year
FY2011FY2018
Operating margin
6.9%
5.6% a year earlier
FY2011FY2018
Net income
$113 million
+104.3% on the year
FY2011FY2018
Diluted EPS
$3.00
+104.1% 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
2,183
1,788
1,634
+22.1%
Cost of revenue
1,737
1,422
1,290
+22.2%
Gross profit
446
366
344
+21.8%
Gross margin
20.4%
20.5%
21.0%
Selling, general and administrative
297
267
243
+11.4%
Operating income
150
99.3
102
+51.4%
Operating margin
6.9%
5.6%
6.2%
Interest expense
3.7
3.2
2.3
+17.6%
Pre-tax income
149
101
101
+47.3%
Income tax
35.8
45.7
36.2
-21.7%
Effective tax rate
24.1%
45.2%
35.8%
Net income
113
55.3
64.9
+104.3%
Net margin
5.2%
3.1%
4.0%
Diluted EPS
$3.00
$1.47
$1.72
+104.1%
$ 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
147
114
91.2
+29.0%
Capital expenditure
27.3
35.5
23.2
-23.1%
Free cash flow
120
78.6
68.0
+52.5%
Free cash flow margin
5.5%
4.4%
4.2%
Cash from investing
-95.7
-129
-79.3
Cash from financing
-42.4
19.3
-36.3
Depreciation and amortisation
42.7
37.5
26.2
+14.0%
Share-based compensation
7.2
6.4
5.0
+12.3%
Buybacks
28.5
9.0
13.1
+216.8%
Dividends paid
12.3
11.0
10.3
+11.7%
Dividend per share
$0.33
$0.29
$0.28
+11.9%
Diluted shares, weighted
38m
38m
38m
-0.2%
Shares outstanding at period end
37m
37m
37m
-0.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
498
418
377
+19.2%
Debt
76.9
60.5
2.6
+27.1%
Other liabilities
488
403
330
+21.1%
Total liabilities and equity
1,063
881
709
+20.6%
Fixed assets
99.6
87.6
68.2
+13.7%
Goodwill
235
201
149
+17.2%
Intangible assets
95.3
76.0
42.4
+25.3%
Cash and equivalents
45.6
36.5
32.1
+24.8%
Receivables
n/a
383
319
Inventory
12.4
10.3
9.2
+20.5%
Other assets
574
87.2
88.9
+558.9%
Total assets
1,063
881
709
+20.6%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.