LGI Homes (LGIH) FY2018 results: revenue $1.5 billion, up 19.6% on the year
LGI Homes, Inc. (LGIH) reported revenue of $1.5 billion for fiscal 2018, the year ended 31 December 2018, up 19.6% on the year before. Net income was $155 million, up 37.1%, and diluted earnings per share $6.24. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$1.5 billion
+19.6% on the year
FY2011FY2018
Operating margin
13.3%
13.5% a year earlier
FY2011FY2018
Net income
$155 million
+37.1% on the year
FY2011FY2018
Diluted EPS
$6.24
+31.9% 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
1,504
1,258
838
+19.6%
Cost of revenue
1,124
938
617
+19.9%
Gross profit
380
320
222
+18.6%
Gross margin
25.3%
25.5%
26.4%
Operating income
200
170
111
+17.9%
Operating margin
13.3%
13.5%
13.3%
Interest expense
0.0
0.0
0.0
Pre-tax income
199
171
114
+16.2%
Income tax
43.8
58.1
38.6
-24.6%
Effective tax rate
22.0%
33.9%
34.0%
Net income
155
113
75.0
+37.1%
Net margin
10.3%
9.0%
9.0%
Diluted EPS
$6.24
$4.73
$3.41
+31.9%
$ 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
-117
-68.5
-108
Capital expenditure
0.5
0.5
0.7
-8.3%
Free cash flow
-117
-69.0
-109
Free cash flow margin
-7.8%
-5.5%
-13.0%
Cash from investing
-74.9
-0.5
-0.7
Cash from financing
171
87.0
121
+96.1%
Depreciation and amortisation
0.7
0.8
1.1
-10.1%
Share-based compensation
5.9
4.2
3.4
+41.8%
Buybacks
1.5
0.0
0.0
Diluted shares, weighted
25m
24m
22m
+4.0%
Shares outstanding at period end
23m
22m
21m
+3.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
656
490
355
+33.9%
Debt
654
475
400
+37.6%
Other liabilities
85.8
115
58.8
-25.3%
Total liabilities and equity
1,395
1,080
815
+29.2%
Fixed assets
1.4
1.7
2.0
-14.5%
Goodwill
12.0
12.0
12.0
0.0%
Cash and equivalents
46.6
67.6
49.5
-31.0%
Other assets
1,335
999
751
+33.7%
Total assets
1,395
1,080
815
+29.2%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.