Flex (FLEX) FY2018 results: revenue $25.4 billion, up 6.6% on the year
Flex Ltd. (FLEX) reported revenue of $25.4 billion for fiscal 2018, the year ended 31 March 2018, up 6.6% on the year before. Net income was $429 million, up 34.1%, and diluted earnings per share $0.80. The figures are the company's own, from the 10-K it filed with the SEC on 21 May 2019.
Revenue
$25.4 billion
+6.6% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$429 million
+34.1% on the year
FY2011FY2018
Diluted EPS
$0.80
+35.6% 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
25,441
23,863
24,419
+6.6%
Cost of revenue
23,778
22,303
22,811
+6.6%
Gross profit
1,596
1,521
1,608
+4.9%
Gross margin
6.3%
6.4%
6.6%
Research and development
78.2
65.6
61.0
+19.2%
Selling, general and administrative
1,019
937
955
+8.8%
Interest expense
123
108
98.0
+14.0%
Pre-tax income
521
371
455
+40.5%
Income tax
92.4
51.3
10.6
+80.1%
Effective tax rate
17.7%
13.8%
2.3%
Net income
429
320
444
+34.1%
Net margin
1.7%
1.3%
1.8%
Diluted EPS
$0.80
$0.59
$0.79
+35.6%
$ 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
-3,866
-3,822
1,136
Capital expenditure
562
525
511
+7.0%
Free cash flow
-4,428
-4,347
626
Free cash flow margin
-17.4%
-18.2%
2.6%
Cash from investing
3,711
4,270
-1,396
-13.1%
Cash from financing
-188
-242
250
Depreciation and amortisation
434
432
515
+0.5%
Share-based compensation
81.3
77.3
77.6
+5.2%
Buybacks
180
350
420
-48.5%
Diluted shares, weighted
537m
546m
565m
-1.8%
Shares outstanding at period end
528m
531m
545m
-0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,019
2,645
2,571
+14.1%
Non-controlling interest
0.0
33.7
34.7
Debt
2,954
2,968
2,792
-0.5%
Other liabilities
7,743
6,947
6,988
+11.5%
Total liabilities and equity
13,716
12,593
12,385
+8.9%
Fixed assets
2,240
2,317
2,258
-3.3%
Goodwill
1,121
985
942
+13.8%
Intangible assets
424
362
404
+17.2%
Cash and equivalents
1,472
1,831
1,608
-19.6%
Receivables
2,518
2,193
2,045
+14.8%
Inventory
3,800
3,396
3,492
+11.9%
Other assets
2,141
1,509
1,638
+41.8%
Total assets
13,716
12,593
12,385
+8.9%
10-K for the year ended 31 March 2018, filed 21 May 2019: the filing.