Greif (GEF) FY2018 results: revenue $3.9 billion, up 6.5% on the year
Greif, Inc. (GEF) reported revenue of $3.9 billion for fiscal 2018, the year ended 31 October 2018, up 6.5% on the year before. Net income was $209 million, up 76.6%, and diluted earnings per share $3.55. The figures are the company's own, from the 10-K it filed with the SEC on 20 December 2018.
Revenue
$3.9 billion
+6.5% on the year
FY2011FY2018
Operating margin
9.6%
8.2% a year earlier
FY2011FY2018
Net income
$209 million
+76.6% on the year
FY2011FY2018
Diluted EPS
$3.55
+75.7% 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
3,874
3,638
3,324
+6.5%
Cost of revenue
3,085
2,924
2,639
+5.5%
Gross profit
789
715
685
+10.4%
Gross margin
20.4%
19.6%
20.6%
Selling, general and administrative
398
380
377
+4.6%
Operating income
370
300
226
+23.7%
Operating margin
9.6%
8.2%
6.8%
Interest expense
51.0
60.1
75.4
-15.1%
Pre-tax income
300
200
141
+49.7%
Income tax
73.3
67.2
66.5
+9.1%
Effective tax rate
24.4%
33.5%
47.1%
Net income
209
119
74.9
+76.6%
Net margin
5.4%
3.3%
2.3%
Diluted EPS
$3.55
$2.02
n/a
+75.7%
$ 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
253
305
301
-17.0%
Capital expenditure
140
96.8
100
+44.8%
Free cash flow
113
208
201
-45.8%
Free cash flow margin
2.9%
5.7%
6.0%
Cash from investing
-135
-90.4
-25.1
Cash from financing
-158
-176
-273
Depreciation and amortisation
127
120
128
+5.3%
Share-based compensation
6.5
2.9
2.8
+124.1%
Buybacks
0.0
0.0
5.2
Dividends paid
100
98.6
98.7
+1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,108
1,011
947
+9.6%
Non-controlling interest
46.4
36.6
10.5
+26.8%
Redeemable equity
35.5
31.5
31.8
+12.7%
Short-term borrowings
7.3
n/a
n/a
Debt
908
967
1,026
-6.2%
Other liabilities
1,090
1,186
1,137
-8.1%
Total liabilities and equity
3,195
3,232
3,153
-1.2%
Fixed assets
1,192
1,188
1,172
+0.3%
Goodwill
776
785
786
-1.2%
Intangible assets
80.6
98.0
111
-17.8%
Cash and equivalents
94.2
142
104
-33.8%
Receivables
457
447
399
+2.2%
Inventory
n/a
n/a
277
Other assets
595
571
304
+4.2%
Total assets
3,195
3,232
3,153
-1.2%
10-K for the year ended 31 October 2018, filed 20 December 2018: the filing.