Incyte (INCY) FY2018 results: revenue $1.9 billion, up 22.5% on the year
Incyte Corp. (INCY) reported revenue of $1.9 billion for fiscal 2018, the year ended 31 December 2018, up 22.5% on the year before. Net income was $109 million, and diluted earnings per share $0.51. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$1.9 billion
+22.5% on the year
FY2011FY2018
Operating margin
6.9%
-15.9% a year earlier
FY2011FY2018
Net income
$109 million
FY2011FY2018
Diluted EPS
$0.51
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
1,882
1,536
1,106
+22.5%
Cost of revenue
94.1
79.5
58.2
+18.4%
Gross profit
1,788
1,457
1,048
+22.7%
Gross margin
95.0%
94.8%
94.7%
Research and development
1,198
1,326
582
-9.7%
Selling, general and administrative
434
366
303
+18.6%
Operating income
129
-244
145
Operating margin
6.9%
-15.9%
13.1%
Interest expense
1.5
6.9
38.7
-77.6%
Pre-tax income
115
-312
107
Income tax
5.9
0.9
3.2
+587.1%
Effective tax rate
5.1%
n/a
3.0%
Net income
109
-313
104
Net margin
5.8%
-20.4%
9.4%
Diluted EPS
$0.51
-$1.53
$0.54
$ 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
336
-93.0
305
Capital expenditure
73.5
111
120
-33.8%
Free cash flow
263
-204
184
Free cash flow margin
14.0%
-13.3%
16.7%
Cash from investing
-86.4
-350
-232
Cash from financing
14.7
690
44.6
-97.9%
Depreciation and amortisation
55.0
52.2
58.4
+5.3%
Share-based compensation
148
133
96.2
+11.3%
Diluted shares, weighted
216m
205m
194m
+5.4%
Shares outstanding at period end
213m
211m
189m
+1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,926
1,631
419
+18.1%
Debt
19,094
26.8
750
+71,146.3%
Other liabilities
n/a
645
469
Total liabilities and equity
2,646
2,303
1,639
+14.9%
Fixed assets
320
260
168
+23.1%
Goodwill
156
156
156
0.0%
Intangible assets
n/a
237
270
Investments
374
404
188
-7.7%
Cash and equivalents
1,164
900
652
+29.4%
Inventory
7.0
6.5
4.1
+7.5%
Other assets
626
340
200
+84.2%
Total assets
2,646
2,303
1,639
+14.9%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.