Intuit (INTU) FY2018 results: revenue $6.0 billion, up 16.0% on the year
Intuit Inc. (INTU) reported revenue of $6.0 billion for fiscal 2018, the year ended 31 July 2018, up 16.0% on the year before. Net income was $1.3 billion, up 34.9%, and diluted earnings per share $5.09. The figures are the company's own, from the 10-K it filed with the SEC on 31 August 2018.
Revenue
$6.0 billion
+16.0% on the year
FY2011FY2018
Operating margin
25.9%
27.3% a year earlier
FY2011FY2018
Net income
$1.3 billion
+34.9% on the year
FY2011FY2018
Diluted EPS
$5.09
+34.7% 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
6,025
5,196
4,694
+16.0%
Cost of revenue
962
797
730
+20.7%
Gross profit
5,063
n/a
3,964
Gross margin
84.0%
n/a
84.4%
Research and development
1,186
998
881
+18.8%
Operating income
1,560
1,418
1,242
+10.0%
Operating margin
25.9%
27.3%
26.5%
Interest expense
20.0
31.0
35.0
-35.5%
Pre-tax income
1,566
1,390
1,203
+12.7%
Income tax
237
405
397
-41.5%
Effective tax rate
15.1%
29.1%
33.0%
Net income
1,329
985
979
+34.9%
Net margin
22.1%
19.0%
20.9%
Diluted EPS
$5.09
$3.78
$3.69
+34.7%
$ 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
2,112
1,599
1,460
+32.1%
Capital expenditure
38.0
102
416
-62.7%
Free cash flow
2,074
1,497
1,044
+38.5%
Free cash flow margin
34.4%
28.8%
22.2%
Cash from investing
-532
-17.0
371
Cash from financing
-639
-1,632
-1,999
Depreciation and amortisation
234
216
207
+8.3%
Share-based compensation
382
326
281
+17.2%
Buybacks
272
839
2,264
-67.6%
Dividends paid
407
353
318
+15.3%
Dividend per share
$1.56
$1.36
$1.20
+14.7%
Diluted shares, weighted
261m
261m
265m
0.0%
Shares outstanding at period end
259m
256m
258m
+1.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,816
1,699
1,492
+65.7%
Debt
438
488
1,000
-10.2%
Other liabilities
1,880
1,881
1,758
-0.1%
Total liabilities and equity
5,134
4,068
4,250
+26.2%
Fixed assets
812
1,030
1,031
-21.2%
Goodwill
1,611
1,295
1,282
+24.4%
Intangible assets
61.0
22.0
44.0
+177.3%
Investments
265
279
470
-5.0%
Cash and equivalents
1,464
529
638
+176.7%
Receivables
98.0
103
108
-4.9%
Other assets
823
810
677
+1.6%
Total assets
5,134
4,068
4,250
+26.2%
10-K for the year ended 31 July 2018, filed 31 August 2018: the filing.