Jabil (JBL) FY2018 results: revenue $22.1 billion, up 15.9% on the year
Jabil Inc. (JBL) reported revenue of $22.1 billion for fiscal 2018, the year ended 31 August 2018, up 15.9% on the year before. Net income was $86 million, down 33.1%, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 19 October 2018.
Revenue
$22.1 billion
+15.9% on the year
FY2011FY2018
Operating margin
2.5%
2.2% a year earlier
FY2011FY2018
Net income
$86 million
-33.1% on the year
FY2011FY2018
Diluted EPS
$0.49
-29.0% 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
22,095
19,063
18,353
+15.9%
Cost of revenue
20,389
17,517
16,825
+16.4%
Gross profit
1,707
1,546
1,528
+10.4%
Gross margin
7.7%
8.1%
8.3%
Research and development
38.5
29.7
32.0
+29.8%
Selling, general and administrative
1,051
908
924
+15.8%
Operating income
542
410
523
+32.2%
Operating margin
2.5%
2.2%
2.8%
Interest expense
149
138
137
+7.9%
Pre-tax income
373
256
387
+45.7%
Income tax
286
129
132
+121.5%
Effective tax rate
76.6%
50.4%
34.1%
Net income
86.3
129
254
-33.1%
Net margin
0.4%
0.7%
1.4%
Diluted EPS
$0.49
$0.69
$1.32
-29.0%
$ 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
-1,105
-1,464
916
Capital expenditure
1,037
716
924
+44.7%
Free cash flow
-2,142
-2,181
-8.0
Free cash flow margin
-9.7%
-11.4%
-0.0%
Cash from investing
1,241
2,141
-1,180
-42.0%
Cash from financing
-47.0
-405
254
Depreciation and amortisation
774
760
697
+1.7%
Share-based compensation
98.5
48.5
59.0
+102.9%
Buybacks
450
307
148
+46.9%
Dividends paid
57.8
60.0
62.4
-3.5%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
175m
186m
193m
-5.8%
Shares outstanding at period end
165m
178m
187m
-7.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,950
2,354
2,438
-17.1%
Non-controlling interest
13.1
14.8
19.3
-11.5%
Debt
2,519
2,050
2,120
+22.8%
Other liabilities
7,564
6,677
5,745
+13.3%
Total liabilities and equity
12,046
11,096
10,323
+8.6%
Fixed assets
3,198
3,229
3,332
-0.9%
Goodwill
628
608
595
+3.2%
Intangible assets
279
285
297
-1.9%
Cash and equivalents
1,258
1,190
912
+5.7%
Inventory
3,458
2,942
2,457
+17.5%
Other assets
3,225
2,843
2,730
+13.5%
Total assets
12,046
11,096
10,323
+8.6%
10-K for the year ended 31 August 2018, filed 19 October 2018: the filing.