Jazz Pharmaceuticals (JAZZ) FY2018 results: revenue $1.9 billion, up 16.8% on the year
Jazz Pharmaceuticals plc (JAZZ) reported revenue of $1.9 billion for fiscal 2018, the year ended 31 December 2018, up 16.8% on the year before. Net income was $447 million, down 8.4%, and diluted earnings per share $7.30. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$1.9 billion
+16.8% on the year
FY2011FY2018
Operating margin
32.5%
32.7% a year earlier
FY2011FY2018
Net income
$447 million
-8.4% on the year
FY2011FY2018
Diluted EPS
$7.30
-8.3% 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
1,891
1,619
1,488
+16.8%
Research and development
227
198
162
+14.2%
Selling, general and administrative
684
544
503
+25.6%
Operating income
615
529
592
+16.3%
Operating margin
32.5%
32.7%
39.8%
Interest expense
56.7
37.8
27.5
+50.0%
Pre-tax income
529
441
532
+20.0%
Income tax
80.2
-47.7
135
Effective tax rate
15.1%
-10.8%
25.4%
Net income
447
488
397
-8.4%
Net margin
23.6%
30.1%
26.7%
Diluted EPS
$7.30
$7.96
$6.41
-8.3%
$ 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
799
693
592
+15.3%
Capital expenditure
20.4
28.9
9.7
-29.6%
Free cash flow
779
664
583
+17.2%
Free cash flow margin
41.2%
41.0%
39.2%
Cash from investing
-394
-269
-1,749
Cash from financing
-479
-409
541
Depreciation and amortisation
15.2
13.1
11.8
+16.0%
Share-based compensation
102
107
98.8
-4.2%
Buybacks
524
98.8
278
+430.0%
Diluted shares, weighted
61m
61m
62m
-0.2%
Shares outstanding at period end
58m
60m
60m
-4.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,757
2,713
1,877
+1.6%
Debt
1,596
1,581
2,030
+1.0%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
850
830
893
+2.4%
Total liabilities and equity
5,203
5,124
4,800
+1.6%
Fixed assets
200
170
107
+17.8%
Goodwill
928
948
894
-2.1%
Intangible assets
2,731
2,979
3,012
-8.3%
Securities held for sale or to maturity
825
601
n/a
+37.2%
Cash and equivalents
310
386
366
-19.8%
Receivables
264
224
234
+17.7%
Inventory
53.0
43.2
34.1
+22.5%
Other assets
n/a
n/a
153
Total assets
5,203
5,124
4,800
+1.6%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.