LCI Industries (LCII) FY2018 results: revenue $2.5 billion, up 15.3% on the year
LCI Industries (LCII) reported revenue of $2.5 billion for fiscal 2018, the year ended 31 December 2018, up 15.3% on the year before. Net income was $149 million, up 11.8%, and diluted earnings per share $5.83. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$2.5 billion
+15.3% on the year
FY2011FY2018
Operating margin
8.0%
10.0% a year earlier
FY2011FY2018
Net income
$149 million
+11.8% on the year
FY2011FY2018
Diluted EPS
$5.83
+11.3% 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
2,476
2,148
1,679
+15.3%
Cost of revenue
1,955
1,655
1,250
+18.2%
Gross profit
520
493
429
+5.5%
Gross margin
21.0%
23.0%
25.5%
Selling, general and administrative
322
279
228
+15.3%
Operating income
199
214
201
-7.2%
Operating margin
8.0%
10.0%
12.0%
Pre-tax income
192
213
199
-9.6%
Income tax
43.8
80.0
69.5
-45.2%
Effective tax rate
22.8%
37.6%
34.9%
Net income
149
133
130
+11.8%
Net margin
6.0%
6.2%
7.7%
Diluted EPS
$5.83
$5.24
$5.20
+11.3%
$ 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
157
153
202
+2.6%
Capital expenditure
120
87.2
44.7
+37.4%
Free cash flow
36.8
65.5
157
-43.8%
Free cash flow margin
1.5%
3.0%
9.4%
Cash from investing
-303
-146
-91.7
Cash from financing
135
-66.9
-36.1
Depreciation and amortisation
67.5
54.7
46.2
+23.4%
Share-based compensation
14.1
20.0
15.4
-29.8%
Buybacks
28.7
0.0
0.0
Dividends paid
59.3
51.1
34.4
+16.1%
Dividend per share
$2.35
$2.05
$1.40
+14.6%
Diluted shares, weighted
25m
25m
25m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
706
653
550
+8.2%
Debt
294
49.9
49.9
+489.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
244
243
187
+0.1%
Total liabilities and equity
1,244
946
787
+31.5%
Fixed assets
323
229
173
+41.0%
Goodwill
180
124
89.2
+45.1%
Intangible assets
176
130
113
+35.5%
Cash and equivalents
14.9
26.0
86.2
-42.7%
Receivables
122
82.2
57.4
+48.3%
Inventory
341
275
189
+24.0%
Other assets
87.2
79.6
79.7
+9.4%
Total assets
1,244
946
787
+31.5%
10-K for the year ended 31 December 2018, filed 27 February 2019: the filing.