Johnson & Johnson (JNJ) FY2018 results: revenue $81.6 billion, up 6.7% on the year
Johnson & Johnson (JNJ) reported revenue of $81.6 billion for fiscal 2018, the year ended 30 December 2018, up 6.7% on the year before. Net income was $15.3 billion, up 1076.7%, and diluted earnings per share $5.61. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$81.6 billion
+6.7% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$15.3 billion
+1,076.7% on the year
FY2011FY2018
Diluted EPS
$5.61
+1,093.6% 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
81,581
76,450
71,890
+6.7%
Cost of revenue
27,091
25,439
21,789
+6.5%
Gross profit
54,490
51,096
50,101
+6.6%
Gross margin
66.8%
66.8%
69.7%
Research and development
10,775
10,594
9,143
+1.7%
Selling, general and administrative
22,540
21,520
20,067
+4.7%
Interest expense
1,005
934
726
+7.6%
Pre-tax income
17,999
17,673
19,803
+1.8%
Income tax
2,702
16,373
3,263
-83.5%
Effective tax rate
15.0%
92.6%
16.5%
Net income
15,297
1,300
16,540
+1,076.7%
Net margin
18.8%
1.7%
23.0%
Diluted EPS
$5.61
$0.47
$5.93
+1,093.6%
$ 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
22,201
21,056
18,767
+5.4%
Capital expenditure
3,670
3,279
3,226
+11.9%
Free cash flow
18,531
17,777
15,541
+4.2%
Free cash flow margin
22.7%
23.3%
21.6%
Cash from investing
-3,167
-14,868
-4,761
Cash from financing
-18,510
-7,673
-8,551
Depreciation and amortisation
6,929
5,642
3,754
+22.8%
Share-based compensation
978
962
878
+1.7%
Buybacks
5,868
6,358
8,979
-7.7%
Dividends paid
9,494
8,943
8,621
+6.2%
Dividend per share
$3.54
$3.32
$3.15
+6.6%
Diluted shares, weighted
2,729m
2,745m
2,789m
-0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
59,752
60,160
70,418
-0.7%
Debt
30,480
34,581
27,126
-11.9%
Other liabilities
62,722
62,562
43,664
+0.3%
Total liabilities and equity
152,954
157,303
141,208
-2.8%
Fixed assets
17,035
17,005
15,912
+0.2%
Goodwill
30,453
31,906
22,805
-4.6%
Intangible assets
47,611
53,228
26,876
-10.6%
Investments
1,580
472
22,935
+234.7%
Cash and equivalents
18,107
17,824
18,972
+1.6%
Receivables
14,098
13,490
11,699
+4.5%
Inventory
8,599
8,765
8,144
-1.9%
Other assets
15,471
14,613
13,865
+5.9%
Total assets
152,954
157,303
141,208
-2.8%
10-K for the year ended 30 December 2018, filed 20 February 2019: the filing.