Fidelity National Financial (FNF) FY2018 results: revenue $7.6 billion, down 0.9% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $7.6 billion for fiscal 2018, the year ended 31 December 2018, down 0.9% on the year before. Net income was $628 million, down 18.5%, and diluted earnings per share $2.26. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$7.6 billion
-0.9% on the year
FY2011FY2018
Operating margin
9.9%
11.3% a year earlier
FY2011FY2018
Net income
$628 million
-18.5% on the year
FY2011FY2018
Diluted EPS
$2.26
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
7,594
7,663
7,257
-0.9%
Operating income
750
864
955
-13.2%
Operating margin
9.9%
11.3%
13.2%
Interest expense
43.0
48.0
64.0
-10.4%
Pre-tax income
750
864
955
-13.2%
Income tax
120
235
347
-48.9%
Effective tax rate
16.0%
27.2%
36.3%
Net income
628
771
650
-18.5%
Net margin
8.3%
10.1%
9.0%
Diluted EPS
$2.26
n/a
n/a
$ 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
943
737
1,162
+28.0%
Cash from investing
-354
79.0
-191
Cash from financing
-442
-1,029
-428
Depreciation and amortisation
182
389
431
-53.2%
Share-based compensation
31.0
44.0
58.0
-29.5%
Buybacks
20.0
23.0
276
-13.0%
Dividends paid
328
278
239
+18.0%
Diluted shares, weighted
278m
n/a
n/a
Shares outstanding at period end
275m
274m
n/a
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,630
4,447
5,996
+4.1%
Non-controlling interest
-2.0
20.0
902
Redeemable equity
344
344
344
0.0%
Deposits
822
n/a
n/a
Debt
836
759
987
+10.1%
Other liabilities
2,671
3,581
6,292
-25.4%
Total liabilities and equity
9,301
9,151
14,521
+1.6%
Fixed assets
164
193
192
-15.0%
Goodwill
2,726
2,746
2,555
-0.7%
Intangible assets
513
618
585
-17.0%
Securities held for sale or to maturity
1,998
1,816
2,407
+10.0%
Cash and equivalents
1,257
1,110
1,049
+13.2%
Other assets
2,643
2,668
7,733
-0.9%
Total assets
9,301
9,151
14,521
+1.6%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.