Keysight Technologies (KEYS) FY2018 results: revenue $3.9 billion, up 21.6% on the year
Keysight Technologies, Inc. (KEYS) reported revenue of $3.9 billion for fiscal 2018, the year ended 31 October 2018, up 21.6% on the year before. Net income was $165 million, up 61.8%, and diluted earnings per share $0.86. The figures are the company's own, from the 10-K it filed with the SEC on 18 December 2018.
Revenue
$3.9 billion
+21.6% on the year
FY2013FY2018
Operating margin
-10.2%
4.6% a year earlier
FY2013FY2018
Net income
$165 million
+61.8% on the year
FY2013FY2018
Diluted EPS
$0.86
+53.6% on the year
FY2013FY2018
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
3,878
3,189
2,918
+21.6%
Cost of revenue
1,767
1,487
1,294
+18.8%
Gross profit
2,111
1,702
1,624
+24.0%
Gross margin
54.4%
53.4%
55.7%
Research and development
624
507
434
+23.1%
Selling, general and administrative
1,205
1,058
832
+13.9%
Operating income
-394
148
375
Operating margin
-10.2%
4.6%
12.9%
Interest expense
83.0
80.0
47.0
+3.8%
Pre-tax income
735
598
515
+22.9%
Income tax
-576
77.0
31.0
Effective tax rate
-78.4%
12.9%
6.0%
Net income
165
102
335
+61.8%
Net margin
4.3%
3.2%
11.5%
Diluted EPS
$0.86
$0.56
$1.95
+53.6%
$ 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
555
328
420
+69.2%
Capital expenditure
132
72.0
91.0
+83.3%
Free cash flow
423
256
329
+65.2%
Free cash flow margin
10.9%
8.0%
11.3%
Cash from investing
-108
-1,722
-90.0
Cash from financing
-341
1,425
-29.0
Depreciation and amortisation
307
225
134
+36.4%
Share-based compensation
59.0
56.0
49.0
+5.4%
Buybacks
120
0.0
62.0
Diluted shares, weighted
191m
182m
172m
+4.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,433
2,310
1,513
+5.3%
Debt
1,790
2,038
1,093
-12.2%
Other liabilities
1,601
1,585
1,197
+1.0%
Total liabilities and equity
5,824
5,933
3,803
-1.8%
Fixed assets
555
530
512
+4.7%
Goodwill
1,171
1,882
736
-37.8%
Intangible assets
645
855
208
-24.6%
Investments
46.0
63.0
55.0
-27.0%
Trading assets
13.0
13.0
11.0
0.0%
Cash and equivalents
913
818
783
+11.6%
Receivables
624
547
437
+14.1%
Inventory
619
588
474
+5.3%
Other assets
1,238
637
587
+94.3%
Total assets
5,824
5,933
3,803
-1.8%
10-K for the year ended 31 October 2018, filed 18 December 2018: the filing.