Goodyear Tire & Rubber (GT) FY2018 results: revenue $15.5 billion, up 0.6% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $15.5 billion for fiscal 2018, the year ended 31 December 2018, up 0.6% on the year before. Net income was $693 million, up 100.3%, and diluted earnings per share $2.89. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$15.5 billion
+0.6% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$693 million
+100.3% on the year
FY2011FY2018
Diluted EPS
$2.89
+110.9% 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
15,475
15,377
15,158
+0.6%
Cost of revenue
11,961
11,680
10,935
+2.4%
Gross profit
3,514
3,697
4,223
-4.9%
Gross margin
22.7%
24.0%
27.9%
Research and development
424
406
388
+4.4%
Selling, general and administrative
2,312
2,279
2,407
+1.4%
Interest expense
321
335
372
-4.2%
Pre-tax income
1,011
878
1,207
+15.1%
Income tax
303
513
-77.0
-40.9%
Effective tax rate
30.0%
58.4%
-6.4%
Net income
693
346
1,264
+100.3%
Net margin
4.5%
2.3%
8.3%
Diluted EPS
$2.89
$1.37
$4.74
+110.9%
$ 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
916
1,158
1,557
-20.9%
Capital expenditure
811
881
996
-7.9%
Free cash flow
105
277
561
-62.1%
Free cash flow margin
0.7%
1.8%
3.7%
Cash from investing
-867
-879
-979
Cash from financing
-243
-415
-876
Depreciation and amortisation
778
781
727
-0.4%
Share-based compensation
16.0
22.0
23.0
-27.3%
Buybacks
220
400
500
-45.0%
Dividends paid
138
110
82.0
+25.5%
Dividend per share
$0.58
$0.44
$0.31
+31.8%
Diluted shares, weighted
239m
253m
266m
-5.5%
Shares outstanding at period end
232m
240m
252m
-3.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,864
4,603
4,507
+5.7%
Non-controlling interest
206
247
218
-16.6%
Short-term borrowings
410
262
245
+56.5%
Debt
5,316
5,427
5,193
-2.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
6,076
6,525
6,348
-6.9%
Total liabilities and equity
16,872
17,064
16,511
-1.1%
Fixed assets
7,259
7,451
7,040
-2.6%
Goodwill
569
595
535
-4.4%
Intangible assets
136
139
136
-2.2%
Cash and equivalents
801
1,043
1,132
-23.2%
Receivables
2,030
2,025
1,769
+0.2%
Inventory
2,856
2,787
2,627
+2.5%
Other assets
3,221
3,024
3,272
+6.5%
Total assets
16,872
17,064
16,511
-1.1%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.