Masco (MAS) FY2018 results: revenue $6.7 billion, up 10.6% on the year
Masco Corp. (MAS) reported revenue of $6.7 billion for fiscal 2018, the year ended 31 December 2018, up 10.6% on the year before. Net income was $734 million, up 37.7%, and diluted earnings per share $2.37. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$6.7 billion
+10.6% on the year
FY2011FY2018
Operating margin
16.2%
17.1% a year earlier
FY2011FY2018
Net income
$734 million
+37.7% on the year
FY2011FY2018
Diluted EPS
$2.37
+42.8% 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
6,654
6,014
7,357
+10.6%
Cost of revenue
4,327
3,794
4,901
+14.0%
Gross profit
2,327
2,220
2,462
+4.8%
Gross margin
35.0%
36.9%
33.5%
Selling, general and administrative
1,250
1,191
1,375
+5.0%
Operating income
1,077
1,029
1,087
+4.7%
Operating margin
16.2%
17.1%
14.8%
Interest expense
156
279
229
-44.1%
Pre-tax income
907
718
832
+26.3%
Income tax
221
245
296
-9.8%
Effective tax rate
24.4%
34.1%
35.6%
Net income
734
533
493
+37.7%
Net margin
11.0%
8.9%
6.7%
Diluted EPS
$2.37
$1.66
$1.48
+42.8%
$ 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
1,032
751
789
+37.4%
Capital expenditure
219
173
180
+26.6%
Free cash flow
813
578
609
+40.7%
Free cash flow margin
12.2%
9.6%
8.3%
Cash from investing
-651
-25.0
-124
Cash from financing
-1,020
-577
-1,109
Depreciation and amortisation
156
127
134
+22.8%
Share-based compensation
27.0
38.0
29.0
-28.9%
Buybacks
654
331
459
+97.6%
Dividends paid
134
129
128
+3.9%
Dividend per share
$0.45
$0.41
$0.39
+9.8%
Diluted shares, weighted
307m
318m
330m
-3.5%
Shares outstanding at period end
294m
310m
318m
-5.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-111
-53.0
-298
Non-controlling interest
180
236
195
-23.7%
Debt
2,979
3,085
2,997
-3.4%
Other liabilities
2,345
2,266
2,270
+3.5%
Total liabilities and equity
5,393
5,534
5,164
-2.5%
Fixed assets
885
1,129
1,060
-21.6%
Goodwill
511
453
832
+12.8%
Intangible assets
288
187
154
+54.0%
Investments
0.0
108
201
Cash and equivalents
552
1,194
990
-53.8%
Receivables
990
1,066
917
-7.1%
Inventory
798
784
712
+1.8%
Other assets
1,369
613
298
+123.3%
Total assets
5,393
5,534
5,164
-2.5%
10-K for the year ended 31 December 2018, filed 7 February 2019: the filing.