Johnson Controls International (JCI) FY2018 results: revenue $23.4 billion, up 2.5% on the year
Johnson Controls International plc (JCI) reported revenue of $23.4 billion for fiscal 2018, the year ended 30 September 2018, up 2.5% on the year before. Net income was $2.2 billion, up 34.2%, and diluted earnings per share $2.32. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2019.
Revenue
$23.4 billion
+2.5% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$2.2 billion
+34.2% on the year
FY2011FY2018
Diluted EPS
$2.32
+35.7% 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
23,400
22,835
20,837
+2.5%
Cost of revenue
15,733
15,305
15,183
+2.8%
Gross profit
7,667
7,530
5,654
+1.8%
Gross margin
32.8%
33.0%
27.1%
Research and development
310
307
158
+1.0%
Selling, general and administrative
5,642
5,723
4,190
-1.4%
Interest expense
409
446
293
-8.3%
Pre-tax income
1,546
1,151
1,061
+34.3%
Income tax
197
322
197
-38.8%
Effective tax rate
12.7%
28.0%
18.6%
Net income
2,162
1,611
-868
+34.2%
Net margin
9.2%
7.1%
-4.2%
Diluted EPS
$2.32
$1.71
-$1.30
+35.7%
$ 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
1,520
371
1,908
+309.7%
Capital expenditure
645
760
1,249
-15.1%
Free cash flow
875
-389
659
Free cash flow margin
3.7%
-1.7%
3.2%
Cash from investing
1,568
-648
-887
Cash from financing
-3,752
-649
-946
Depreciation and amortisation
824
919
953
-10.3%
Share-based compensation
106
134
142
-20.9%
Buybacks
300
651
501
-53.9%
Dividends paid
954
702
915
+35.9%
Dividend per share
$1.04
$1.00
$1.16
+4.0%
Diluted shares, weighted
932m
945m
667m
-1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
21,164
20,447
24,118
+3.5%
Non-controlling interest
1,294
920
972
+40.7%
Redeemable equity
0.0
211
234
Debt
10,930
13,572
12,759
-19.5%
Other liabilities
15,409
16,734
25,170
-7.9%
Total liabilities and equity
48,797
51,884
63,253
-5.9%
Fixed assets
3,300
3,341
5,632
-1.2%
Goodwill
18,381
18,591
21,024
-1.1%
Intangible assets
6,187
6,741
7,540
-8.2%
Cash and equivalents
185
301
579
-38.5%
Receivables
5,622
6,666
6,394
-15.7%
Inventory
1,819
3,209
2,888
-43.3%
Other assets
13,303
13,035
19,196
+2.1%
Total assets
48,797
51,884
63,253
-5.9%
10-K for the year ended 30 September 2018, filed 21 November 2019: the filing.