Invesco (IVZ) FY2018 results: revenue $5.3 billion, up 3.0% on the year
Invesco Ltd. (IVZ) reported revenue of $5.3 billion for fiscal 2018, the year ended 31 December 2018, up 3.0% on the year before. Net income was $883 million, down 21.7%, and diluted earnings per share $2.14. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$5.3 billion
+3.0% on the year
FY2011FY2018
Operating margin
22.7%
24.7% a year earlier
FY2011FY2018
Net income
$883 million
-21.7% on the year
FY2011FY2018
Diluted EPS
$2.14
-22.2% 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
5,314
5,160
4,734
+3.0%
Operating income
1,205
1,277
1,152
-5.7%
Operating margin
22.7%
24.7%
24.3%
Interest expense
112
94.8
93.4
+17.6%
Pre-tax income
1,138
1,429
1,207
-20.4%
Income tax
255
268
338
-4.9%
Effective tax rate
22.4%
18.8%
28.0%
Net income
883
1,127
854
-21.7%
Net margin
16.6%
21.8%
18.0%
Diluted EPS
$2.14
$2.75
$2.06
-22.2%
$ 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
829
1,158
654
-28.4%
Capital expenditure
102
112
148
-8.2%
Free cash flow
726
1,046
506
-30.6%
Free cash flow margin
13.7%
20.3%
10.7%
Cash from investing
-2,899
-974
-1,006
Cash from financing
1,540
169
470
+811.2%
Depreciation and amortisation
142
117
101
+21.7%
Share-based compensation
172
175
160
-1.7%
Buybacks
0.0
63.8
535
Dividends paid
491
472
460
+4.0%
Dividend per share
$1.19
$1.15
$1.11
+3.5%
Diluted shares, weighted
412m
410m
415m
+0.6%
Shares outstanding at period end
397m
407m
404m
-2.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
8,579
8,696
7,504
-1.3%
Non-controlling interest
357
260
108
+37.7%
Redeemable equity
396
243
284
+62.9%
Debt
2,409
2,076
2,102
+16.0%
Other liabilities
19,237
20,394
15,736
-5.7%
Total liabilities and equity
30,978
31,669
25,734
-2.2%
Fixed assets
469
491
465
-4.5%
Goodwill
7,157
6,591
6,129
+8.6%
Intangible assets
2,176
1,559
1,399
+39.6%
Investments
n/a
347
n/a
Cash and equivalents
1,148
2,006
1,328
-42.8%
Other assets
20,029
20,676
16,413
-3.1%
Total assets
30,978
31,669
25,734
-2.2%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.