Globus Medical (GMED) FY2018 results: revenue $713 million, up 12.1% on the year
Globus Medical Inc. (GMED) reported revenue of $713 million for fiscal 2018, the year ended 31 December 2018, up 12.1% on the year before. Net income was $156 million, up 45.8%, and diluted earnings per share $1.54. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$713 million
+12.1% on the year
FY2011FY2018
Operating margin
23.7%
25.4% a year earlier
FY2011FY2018
Net income
$156 million
+45.8% on the year
FY2011FY2018
Diluted EPS
$1.54
+40.0% 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
713
636
564
+12.1%
Cost of revenue
159
150
135
+6.0%
Gross profit
554
486
429
+14.0%
Gross margin
77.6%
76.3%
76.1%
Research and development
55.5
43.7
44.5
+27.1%
Selling, general and administrative
312
268
222
+16.3%
Operating income
169
162
154
+4.6%
Operating margin
23.7%
25.4%
27.3%
Pre-tax income
189
170
157
+11.0%
Income tax
32.1
62.6
52.9
-48.7%
Effective tax rate
17.0%
36.8%
33.7%
Net income
156
107
104
+45.8%
Net margin
21.9%
16.9%
18.5%
Diluted EPS
$1.54
$1.10
$1.08
+40.0%
$ 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
182
159
148
+14.2%
Capital expenditure
59.7
51.3
40.9
+16.4%
Free cash flow
122
108
107
+13.2%
Free cash flow margin
17.1%
16.9%
19.0%
Cash from investing
-193
-111
-163
Cash from financing
32.6
1.6
0.5
+1,903.1%
Depreciation and amortisation
41.6
42.1
38.8
-1.0%
Share-based compensation
21.9
14.7
11.4
+49.1%
Diluted shares, weighted
101m
98m
96m
+3.5%
Shares outstanding at period end
99m
97m
96m
+2.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,186
968
832
+22.5%
Debt
0.0
0.0
0.0
Other liabilities
115
111
95.6
+4.0%
Total liabilities and equity
1,301
1,079
928
+20.6%
Fixed assets
172
143
124
+20.1%
Goodwill
124
124
106
-0.1%
Intangible assets
87.3
78.7
61.7
+11.0%
Investments
463
311
284
+48.9%
Cash and equivalents
140
119
67.0
+17.5%
Receivables
137
117
92.0
+17.5%
Inventory
131
108
113
+21.1%
Other assets
46.7
77.9
80.3
-40.0%
Total assets
1,301
1,079
928
+20.6%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.