MKS (MKSI) FY2018 results: revenue $2.1 billion, up 8.3% on the year
MKS Inc. (MKSI) reported revenue of $2.1 billion for fiscal 2018, the year ended 31 December 2018, up 8.3% on the year before. Net income was $393 million, up 15.9%, and diluted earnings per share $7.14. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$2.1 billion
+8.3% on the year
FY2011FY2018
Operating margin
23.8%
21.2% a year earlier
FY2011FY2018
Net income
$393 million
+15.9% on the year
FY2011FY2018
Diluted EPS
$7.14
+15.9% 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
2,075
1,916
1,295
+8.3%
Cost of revenue
1,096
1,025
730
+6.9%
Gross profit
979
891
566
+9.9%
Gross margin
47.2%
46.5%
43.7%
Research and development
136
133
111
+2.4%
Selling, general and administrative
298
291
228
+2.6%
Operating income
494
407
157
+21.5%
Operating margin
23.8%
21.2%
12.1%
Interest expense
16.9
31.0
30.6
-45.5%
Pre-tax income
481
448
128
+7.4%
Income tax
88.1
108
23.2
-18.8%
Effective tax rate
18.3%
24.2%
18.1%
Net income
393
339
105
+15.9%
Net margin
18.9%
17.7%
8.1%
Diluted EPS
$7.14
$6.16
$1.94
+15.9%
$ 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
414
355
180
+16.5%
Capital expenditure
62.9
31.3
19.1
+101.2%
Free cash flow
351
324
161
+8.3%
Free cash flow margin
16.9%
16.9%
12.4%
Cash from investing
72.8
22.6
-727
+221.4%
Cash from financing
-178
-280
560
Depreciation and amortisation
79.9
82.6
65.9
-3.3%
Share-based compensation
27.3
24.4
25.2
+11.8%
Buybacks
75.0
n/a
1.5
Dividends paid
42.4
38.2
36.4
+11.1%
Dividend per share
$0.78
$0.71
$0.68
+9.9%
Diluted shares, weighted
55m
55m
54m
-0.1%
Shares outstanding at period end
54m
54m
54m
-0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,873
1,589
1,242
+17.9%
Debt
348
393
612
-11.5%
Other liabilities
393
432
358
-9.0%
Total liabilities and equity
2,614
2,414
2,212
+8.3%
Fixed assets
194
172
175
+13.1%
Goodwill
587
591
589
-0.7%
Intangible assets
320
366
408
-12.7%
Investments
84.1
220
199
-61.8%
Cash and equivalents
644
334
229
+93.1%
Receivables
295
300
249
-1.6%
Inventory
385
339
276
+13.5%
Other assets
104
91.5
88.5
+14.1%
Total assets
2,614
2,414
2,212
+8.3%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.