Huntington Ingalls Industries (HII) FY2018 results: revenue $8.2 billion, up 9.9% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $8.2 billion for fiscal 2018, the year ended 31 December 2018, up 9.9% on the year before. Net income was $836 million, up 74.5%, and diluted earnings per share $19.09. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$8.2 billion
+9.9% on the year
FY2011FY2018
Operating margin
11.6%
11.8% a year earlier
FY2011FY2018
Net income
$836 million
+74.5% on the year
FY2011FY2018
Diluted EPS
$19.09
+82.5% 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
8,176
7,441
7,068
+9.9%
Cost of revenue
6,385
6,018
5,608
+6.1%
Gross profit
1,791
1,423
1,460
+25.9%
Gross margin
21.9%
19.1%
20.7%
Research and development
25.0
17.0
19.0
+47.1%
Operating income
951
881
876
+7.9%
Operating margin
11.6%
11.8%
12.4%
Interest expense
58.0
94.0
74.0
-38.3%
Pre-tax income
971
772
784
+25.8%
Income tax
135
293
211
-53.9%
Effective tax rate
13.9%
38.0%
26.9%
Net income
836
479
573
+74.5%
Net margin
10.2%
6.4%
8.1%
Diluted EPS
$19.09
$10.46
$12.14
+82.5%
$ 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
914
814
822
+12.3%
Capital expenditure
463
382
285
+21.2%
Free cash flow
451
432
537
+4.4%
Free cash flow margin
5.5%
5.8%
7.6%
Cash from investing
-476
-349
-653
Cash from financing
-899
-484
-343
Depreciation and amortisation
203
205
186
-1.0%
Share-based compensation
36.0
34.0
36.0
+5.9%
Buybacks
742
286
194
+159.4%
Dividends paid
132
115
98.0
+14.8%
Dividend per share
$3.02
$2.52
$2.10
+19.8%
Diluted shares, weighted
44m
46m
47m
-4.4%
Shares outstanding at period end
42m
45m
46m
-7.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,516
1,758
1,653
-13.8%
Debt
1,283
1,279
1,278
+0.3%
Other liabilities
3,584
3,337
3,421
+7.4%
Total liabilities and equity
6,383
6,374
6,352
+0.1%
Fixed assets
2,517
2,215
1,986
+13.6%
Goodwill
1,263
1,217
1,234
+3.8%
Intangible assets
492
508
548
-3.1%
Cash and equivalents
240
701
720
-65.8%
Receivables
252
429
1,164
-41.3%
Other assets
1,619
1,304
700
+24.2%
Total assets
6,383
6,374
6,352
+0.1%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.