General Electric (GE) FY2018 results: revenue $97.0 billion, down 2.3% on the year
General Electric Co. (GE) reported revenue of $97.0 billion for fiscal 2018, the year ended 31 December 2018, down 2.3% on the year before. Net income was -$22.4 billion, and diluted earnings per share $-20.96. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$97.0 billion
-2.3% on the year
FY2011FY2018
Operating margin
-24.0%
-13.5% a year earlier
FY2011FY2018
Net income
-$22.4 billion
FY2011FY2018
Diluted EPS
-$20.96
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
97,012
99,279
119,469
-2.3%
Cost of revenue
72,818
91,934
87,483
-20.8%
Gross profit
24,194
n/a
n/a
Gross margin
24.9%
n/a
n/a
Research and development
3,415
5,504
5,436
-38.0%
Selling, general and administrative
14,643
14,257
17,756
+2.7%
Operating income
-23,308
-13,428
2,892
Operating margin
-24.0%
-13.5%
2.4%
Pre-tax income
-20,987
-11,345
7,031
Income tax
93.0
-2,808
-1,133
Effective tax rate
n/a
n/a
-16.1%
Net income
-22,355
-8,484
7,500
Net margin
-23.0%
-8.5%
6.3%
Diluted EPS
-$20.96
-$8.24
$7.12
$ 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
4,978
6,554
1,160
-24.0%
Capital expenditure
6,627
6,642
7,199
-0.2%
Free cash flow
-1,649
-88.0
-6,039
Free cash flow margin
-1.7%
-0.1%
-5.1%
Cash from investing
18,280
5,379
49,202
+239.8%
Cash from financing
-31,806
-18,484
-90,464
Depreciation and amortisation
8,223
7,429
7,073
+10.7%
Share-based compensation
336
n/a
n/a
Buybacks
n/a
n/a
-22,581
Dividends paid
4,474
8,650
8,806
-48.3%
Dividend per share
$2.96
$6.72
$7.44
-56.0%
Diluted shares, weighted
1,086m
1,086m
1,141m
+0.0%
Shares outstanding at period end
1,088m
1,085m
1,093m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
30,981
56,031
70,162
-44.7%
Non-controlling interest
20,500
17,468
1,663
+17.4%
Redeemable equity
378
3,391
3,017
-88.9%
Debt
103,599
134,591
136,210
-23.0%
Other liabilities
155,614
157,764
148,070
-1.4%
Total liabilities and equity
311,072
369,245
359,122
-15.8%
Fixed assets
43,611
53,874
50,518
-19.1%
Goodwill
33,974
58,821
70,438
-42.2%
Intangible assets
12,178
20,273
16,436
-39.9%
Trading assets
n/a
98.0
17.0
Cash and equivalents
31,124
43,299
48,129
-28.1%
Receivables
14,645
24,209
24,076
-39.5%
Inventory
13,803
19,419
22,354
-28.9%
Other assets
161,737
149,252
127,154
+8.4%
Total assets
311,072
369,245
359,122
-15.8%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.