Alphabet (GOOGL) FY2018 results: revenue $136.8 billion, up 23.4% on the year
Alphabet Inc. (GOOGL) reported revenue of $136.8 billion for fiscal 2018, the year ended 31 December 2018, up 23.4% on the year before. Net income was $30.7 billion, up 142.7%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2021.
Revenue
$136.8 billion
+23.4% on the year
FY2013FY2018
Operating margin
20.1%
23.6% a year earlier
FY2013FY2018
Net income
$30.7 billion
+142.7% on the year
FY2013FY2018
Diluted EPS
$2.19
+142.8% on the year
FY2013FY2018
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
136,819
110,855
90,272
+23.4%
Cost of revenue
59,549
45,583
35,138
+30.6%
Gross profit
77,270
65,272
55,134
+18.4%
Gross margin
56.5%
58.9%
61.1%
Research and development
21,419
16,625
13,948
+28.8%
Operating income
27,524
26,146
23,716
+5.3%
Operating margin
20.1%
23.6%
26.3%
Interest expense
114
109
124
+4.6%
Pre-tax income
34,913
27,193
24,150
+28.4%
Income tax
4,177
14,531
4,672
-71.3%
Effective tax rate
12.0%
53.4%
19.3%
Net income
30,736
12,662
19,478
+142.7%
Net margin
22.5%
11.4%
21.6%
Diluted EPS
$2.19
$0.90
$1.39
+142.8%
$ 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
47,971
37,091
36,036
+29.3%
Capital expenditure
25,139
13,184
10,212
+90.7%
Free cash flow
22,832
23,907
25,824
-4.5%
Free cash flow margin
16.7%
21.6%
28.6%
Cash from investing
-28,504
-31,401
-31,165
Cash from financing
-13,179
-8,298
-8,332
Share-based compensation
9,353
7,679
6,703
+21.8%
Buybacks
9,075
4,846
3,693
+87.3%
Dividends paid
0.0
0.0
0.0
Shares outstanding at period end
13,911m
13,896m
13,826m
+0.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
177,628
152,502
139,036
+16.5%
Debt
4,062
4,026
4,000
+0.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
51,102
40,767
24,461
+25.4%
Total liabilities and equity
232,792
197,295
167,497
+18.0%
Fixed assets
59,719
42,383
34,234
+40.9%
Goodwill
17,888
16,747
16,468
+6.8%
Intangible assets
2,220
2,692
3,307
-17.5%
Investments
92,439
91,156
73,415
+1.4%
Cash and equivalents
16,701
10,715
12,918
+55.9%
Receivables
20,838
18,336
14,137
+13.6%
Inventory
1,107
749
268
+47.8%
Other assets
21,880
14,517
12,750
+50.7%
Total assets
232,792
197,295
167,497
+18.0%
10-K for the year ended 31 December 2018, filed 3 February 2021: the filing.