JBT Marel (JBTM) FY2018 results: revenue $1.9 billion, up 17.4% on the year
JBT Marel Corp. (JBTM) reported revenue of $1.9 billion for fiscal 2018, the year ended 31 December 2018, up 17.4% on the year before. Net income was $104 million, up 29.3%, and diluted earnings per share $3.23. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.9 billion
+17.4% on the year
FY2011FY2018
Operating margin
7.5%
8.8% a year earlier
FY2011FY2018
Net income
$104 million
+29.3% on the year
FY2011FY2018
Diluted EPS
$3.23
+27.7% 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
1,920
1,635
1,350
+17.4%
Cost of revenue
1,382
1,164
970
+18.7%
Gross profit
234
190
158
+23.1%
Gross margin
12.2%
11.6%
11.7%
Research and development
26.9
28.7
23.6
-6.3%
Selling, general and administrative
347
325
267
+6.6%
Operating income
144
144
101
0.0%
Operating margin
7.5%
8.8%
7.5%
Interest expense
13.9
13.6
9.4
+2.2%
Pre-tax income
129
132
94.0
-2.4%
Income tax
24.6
50.1
26.0
-50.9%
Effective tax rate
19.1%
37.9%
27.7%
Net income
104
80.5
67.6
+29.3%
Net margin
5.4%
4.9%
5.0%
Diluted EPS
$3.23
$2.53
$2.27
+27.7%
$ 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
154
105
67.4
+47.1%
Capital expenditure
39.8
37.9
37.1
+5.0%
Free cash flow
114
66.7
30.3
+71.1%
Free cash flow margin
5.9%
4.1%
2.2%
Cash from investing
-94.4
-140
-267
Cash from financing
-48.3
34.7
195
Depreciation and amortisation
57.7
51.7
38.5
+11.6%
Share-based compensation
9.7
9.0
9.9
+7.8%
Buybacks
20.0
5.0
4.3
+300.0%
Dividends paid
13.1
12.7
11.8
+3.1%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
32m
32m
30m
+0.9%
Shares outstanding at period end
32m
32m
29m
-0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
457
442
180
+3.4%
Debt
387
383
499
+1.0%
Other liabilities
598
566
509
+5.7%
Total liabilities and equity
1,442
1,391
1,187
+3.7%
Fixed assets
240
233
210
+2.9%
Goodwill
321
302
240
+6.5%
Intangible assets
214
217
186
-1.3%
Cash and equivalents
43.0
34.0
33.2
+26.5%
Receivables
253
226
260
+12.2%
Inventory
206
190
140
+8.4%
Other assets
165
190
118
-13.1%
Total assets
1,442
1,391
1,187
+3.7%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.