Illumina (ILMN) FY2018 results: revenue $3.3 billion, up 21.1% on the year
Illumina, Inc. (ILMN) reported revenue of $3.3 billion for fiscal 2018, the year ended 30 December 2018, up 21.1% on the year before. Net income was $826 million, up 13.8%, and diluted earnings per share $5.56. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2019.
Revenue
$3.3 billion
+21.1% on the year
FY2011FY2018
Operating margin
26.5%
22.0% a year earlier
FY2011FY2018
Net income
$826 million
+13.8% on the year
FY2011FY2018
Diluted EPS
$5.56
+13.0% 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
3,333
2,752
2,398
+21.1%
Cost of revenue
1,033
926
732
+11.6%
Gross profit
2,300
1,826
1,666
+26.0%
Gross margin
69.0%
66.4%
69.5%
Research and development
623
546
504
+14.1%
Selling, general and administrative
794
674
583
+17.8%
Operating income
883
606
587
+45.7%
Operating margin
26.5%
22.0%
24.5%
Interest expense
57.0
37.0
33.0
+54.1%
Pre-tax income
894
1,043
561
-14.3%
Income tax
112
365
133
-69.3%
Effective tax rate
12.5%
35.0%
23.7%
Net income
826
726
463
+13.8%
Net margin
24.8%
26.4%
19.3%
Diluted EPS
$5.56
$4.92
$3.07
+13.0%
$ 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
1,142
875
779
+30.5%
Capital expenditure
296
310
260
-4.5%
Free cash flow
846
565
519
+49.7%
Free cash flow margin
25.4%
20.5%
21.6%
Cash from investing
-1,813
-214
-515
Cash from financing
594
-176
-296
Depreciation and amortisation
179
156
141
+14.7%
Share-based compensation
193
164
129
+17.7%
Buybacks
201
251
249
-19.9%
Diluted shares, weighted
149m
148m
148m
+0.7%
Shares outstanding at period end
147m
147m
146m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,758
2,749
2,197
+36.7%
Non-controlling interest
87.0
n/a
73.0
Redeemable equity
61.0
220
43.9
-72.3%
Debt
1,997
1,192
1,058
+67.5%
Other liabilities
1,056
1,096
908
-3.6%
Total liabilities and equity
6,959
5,257
4,281
+32.4%
Fixed assets
1,075
931
713
+15.5%
Goodwill
831
771
776
+7.8%
Intangible assets
185
175
243
+5.7%
Investments
2,368
920
824
+157.4%
Cash and equivalents
1,144
1,225
735
-6.6%
Receivables
514
411
381
+25.1%
Inventory
386
333
300
+15.9%
Other assets
456
491
308
-7.1%
Total assets
6,959
5,257
4,281
+32.4%
10-K for the year ended 30 December 2018, filed 12 February 2019: the filing.