Hasbro (HAS) FY2018 results: revenue $4.6 billion, down 12.1% on the year
Hasbro, Inc. (HAS) reported revenue of $4.6 billion for fiscal 2018, the year ended 30 December 2018, down 12.1% on the year before. Net income was $220 million, down 44.4%, and diluted earnings per share $1.74. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$4.6 billion
-12.1% on the year
FY2011FY2018
Operating margin
7.2%
15.6% a year earlier
FY2011FY2018
Net income
$220 million
-44.4% on the year
FY2011FY2018
Diluted EPS
$1.74
-44.2% 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
4,580
5,210
5,020
-12.1%
Cost of revenue
1,851
2,034
1,905
-9.0%
Gross profit
2,729
3,176
3,114
-14.1%
Gross margin
59.6%
61.0%
62.0%
Research and development
246
269
266
-8.5%
Selling, general and administrative
1,288
1,125
1,111
+14.5%
Operating income
331
810
788
-59.1%
Operating margin
7.2%
15.6%
15.7%
Interest expense
90.8
98.3
97.4
-7.6%
Pre-tax income
270
786
692
-65.6%
Income tax
50.0
390
159
-87.2%
Effective tax rate
18.5%
49.6%
23.0%
Net income
220
397
551
-44.4%
Net margin
4.8%
7.6%
11.0%
Diluted EPS
$1.74
$3.12
$4.34
-44.2%
$ 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
646
724
817
-10.8%
Capital expenditure
140
135
155
+4.1%
Free cash flow
506
590
662
-14.2%
Free cash flow margin
11.0%
11.3%
13.2%
Cash from investing
-286
-131
-138
Cash from financing
-737
-312
-375
Depreciation and amortisation
168
172
154
-2.3%
Share-based compensation
27.9
56.0
61.6
-50.2%
Buybacks
250
151
150
+65.3%
Dividends paid
309
277
249
+11.7%
Dividend per share
$2.52
$2.28
$2.04
+10.5%
Diluted shares, weighted
127m
127m
127m
-0.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,754
1,830
1,863
-4.1%
Redeemable equity
0.0
n/a
n/a
Debt
1,705
1,849
1,721
-7.8%
Other liabilities
1,804
1,611
1,508
+11.9%
Total liabilities and equity
5,263
5,290
5,091
-0.5%
Fixed assets
256
260
267
-1.2%
Goodwill
486
573
571
-15.2%
Intangible assets
694
217
246
+219.2%
Securities held for sale or to maturity
0.9
n/a
n/a
Cash and equivalents
1,182
1,581
1,282
-25.2%
Receivables
1,188
1,405
1,320
-15.5%
Inventory
443
433
388
+2.3%
Other assets
1,012
820
1,018
+23.4%
Total assets
5,263
5,290
5,091
-0.5%
10-K for the year ended 30 December 2018, filed 26 February 2019: the filing.