ICU Medical (ICUI) FY2018 results: revenue $1.4 billion, up 8.3% on the year
ICU Medical Inc. (ICUI) reported revenue of $1.4 billion for fiscal 2018, the year ended 31 December 2018, up 8.3% on the year before. Net income was $29 million, down 58.1%, and diluted earnings per share $1.33. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$1.4 billion
+8.3% on the year
FY2011FY2018
Operating margin
2.1%
-1.0% a year earlier
FY2011FY2018
Net income
$29 million
-58.1% on the year
FY2011FY2018
Diluted EPS
$1.33
-59.6% 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
1,400
1,293
379
+8.3%
Cost of revenue
830
867
178
-4.2%
Gross profit
570
426
201
+33.8%
Gross margin
40.7%
33.0%
53.1%
Research and development
52.9
51.3
13.0
+3.1%
Selling, general and administrative
320
302
89.4
+5.9%
Operating income
29.8
-13.3
82.9
Operating margin
2.1%
-1.0%
21.9%
Interest expense
0.7
2.0
0.1
-65.4%
Pre-tax income
22.4
51.3
85.2
-56.4%
Income tax
-6.4
-17.4
22.1
Effective tax rate
-28.7%
-33.9%
25.9%
Net income
28.8
68.6
63.1
-58.1%
Net margin
2.1%
5.3%
16.6%
Diluted EPS
$1.33
$3.29
$3.66
-59.6%
$ 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
160
154
89.9
+3.8%
Capital expenditure
92.7
74.5
23.4
+24.5%
Free cash flow
67.5
79.9
66.6
-15.6%
Free cash flow margin
4.8%
6.2%
17.6%
Cash from investing
-103
-267
16.3
Cash from financing
8.0
-44.3
2.5
Depreciation and amortisation
74.7
66.6
19.1
+12.3%
Share-based compensation
24.2
19.4
15.2
+25.3%
Buybacks
6.3
4.1
17.2
+54.1%
Diluted shares, weighted
22m
21m
17m
+3.6%
Shares outstanding at period end
20m
20m
16m
+1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,264
1,198
660
+5.5%
Debt
n/a
n/a
0.0
Other liabilities
322
299
44.5
+7.7%
Total liabilities and equity
1,585
1,497
705
+5.9%
Fixed assets
433
399
85.7
+8.5%
Goodwill
11.2
12.4
5.6
-9.4%
Intangible assets
133
144
22.4
-7.2%
Investments
39.4
24.6
0.0
+59.7%
Cash and equivalents
345
290
445
+18.9%
Receivables
176
113
56.2
+56.4%
Inventory
311
289
49.3
+7.8%
Other assets
137
226
40.5
-39.6%
Total assets
1,585
1,497
705
+5.9%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.