Idex (IEX) FY2018 results: revenue $2.5 billion, up 8.6% on the year
Idex Corp. (IEX) reported revenue of $2.5 billion for fiscal 2018, the year ended 31 December 2018, up 8.6% on the year before. Net income was $411 million, up 21.7%, and diluted earnings per share $5.29. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$2.5 billion
+8.6% on the year
FY2011FY2018
Operating margin
22.9%
22.0% a year earlier
FY2011FY2018
Net income
$411 million
+21.7% on the year
FY2011FY2018
Diluted EPS
$5.29
+21.3% 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
2,484
2,287
2,113
+8.6%
Cost of revenue
1,366
1,261
1,182
+8.3%
Gross profit
1,118
1,027
931
+8.9%
Gross margin
45.0%
44.9%
44.0%
Research and development
48.0
42.4
39.4
+13.2%
Selling, general and administrative
537
525
492
+2.2%
Operating income
569
503
412
+13.2%
Operating margin
22.9%
22.0%
19.5%
Interest expense
44.1
44.9
45.6
-1.7%
Pre-tax income
529
455
369
+16.2%
Income tax
118
118
97.4
+0.3%
Effective tax rate
22.4%
25.9%
26.4%
Net income
411
337
271
+21.7%
Net margin
16.5%
14.7%
12.8%
Diluted EPS
$5.29
$4.36
$3.53
+21.3%
$ 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
479
433
400
+10.8%
Capital expenditure
56.1
43.9
38.2
+27.9%
Free cash flow
423
389
362
+8.8%
Free cash flow margin
17.0%
17.0%
17.1%
Cash from investing
-81.4
-54.7
-509
Cash from financing
-290
-277
46.5
Depreciation and amortisation
77.5
84.2
86.9
-7.9%
Share-based compensation
24.8
24.4
20.3
+1.4%
Buybacks
174
29.1
57.3
+498.2%
Dividends paid
127
111
103
+14.7%
Dividend per share
$1.72
$1.48
$1.36
+16.2%
Diluted shares, weighted
78m
77m
77m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,995
1,887
1,544
+5.7%
Short-term borrowings
0.5
0.3
1.0
+87.2%
Debt
851
862
1,021
-1.3%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
628
651
589
-3.5%
Total liabilities and equity
3,474
3,400
3,155
+2.2%
Fixed assets
281
258
248
+8.9%
Goodwill
1,698
1,704
1,633
-0.4%
Intangible assets
383
415
436
-7.6%
Securities held for sale or to maturity
7.6
6.7
n/a
+12.7%
Cash and equivalents
466
376
236
+24.1%
Receivables
314
294
273
+6.6%
Inventory
280
260
253
+7.8%
Other assets
43.6
85.8
77.4
-49.1%
Total assets
3,474
3,400
3,155
+2.2%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.