Altria Group (MO) FY2018 results: revenue $25.4 billion, down 0.8% on the year
Altria Group, Inc. (MO) reported revenue of $25.4 billion for fiscal 2018, the year ended 31 December 2018, down 0.8% on the year before. Net income was $7.0 billion, down 31.9%, and diluted earnings per share $3.68. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$25.4 billion
-0.8% on the year
FY2011FY2018
Operating margin
35.9%
37.5% a year earlier
FY2011FY2018
Net income
$7.0 billion
-31.9% on the year
FY2011FY2018
Diluted EPS
$3.68
-30.7% 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
25,364
25,576
25,744
-0.8%
Cost of revenue
7,373
7,531
7,765
-2.1%
Gross profit
12,254
11,951
11,591
+2.5%
Gross margin
48.3%
46.7%
45.0%
Research and development
252
241
203
+4.6%
Operating income
9,115
9,593
8,762
-5.0%
Operating margin
35.9%
37.5%
34.0%
Interest expense
697
736
754
-5.3%
Pre-tax income
9,341
9,828
21,852
-5.0%
Income tax
2,374
-399
7,608
Effective tax rate
25.4%
-4.1%
34.8%
Net income
6,963
10,222
14,239
-31.9%
Net margin
27.5%
40.0%
55.3%
Diluted EPS
$3.68
$5.31
$7.28
-30.7%
$ 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
8,391
4,901
3,826
+71.2%
Capital expenditure
238
199
189
+19.6%
Free cash flow
8,153
4,702
3,637
+73.4%
Free cash flow margin
32.1%
18.4%
14.1%
Cash from investing
-12,988
-467
3,708
Cash from financing
4,716
-7,771
-5,329
Depreciation and amortisation
227
209
204
+8.6%
Buybacks
1,673
2,917
1,030
-42.6%
Dividends paid
5,415
4,807
4,512
+12.6%
Dividend per share
$3.00
$2.54
$2.35
+18.1%
Diluted shares, weighted
1,888m
1,921m
1,952m
-1.7%
Shares outstanding at period end
1,874m
1,901m
1,943m
-1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
14,787
15,377
12,770
-3.8%
Non-controlling interest
2.0
3.0
3.0
-33.3%
Redeemable equity
39.0
38.0
38.0
+2.6%
Short-term borrowings
12,704
0.0
0.0
Debt
13,042
13,894
13,881
-6.1%
Other liabilities
14,885
13,890
19,240
+7.2%
Total liabilities and equity
55,459
43,202
45,932
+28.4%
Fixed assets
1,938
1,914
1,958
+1.3%
Goodwill
5,196
5,307
5,285
-2.1%
Intangible assets
12,279
12,400
12,036
-1.0%
Cash and equivalents
1,333
1,253
4,569
+6.4%
Receivables
142
142
151
0.0%
Inventory
2,331
2,225
2,051
+4.8%
Other assets
32,240
19,961
19,882
+61.5%
Total assets
55,459
43,202
45,932
+28.4%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.