Match Group (MTCH) FY2018 results: revenue $1.7 billion, down 47.7% on the year
Match Group, Inc. (MTCH) reported revenue of $1.7 billion for fiscal 2018, the year ended 31 December 2018, down 47.7% on the year before. Net income was $637 million, up 108.9%, and diluted earnings per share $3.02. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$1.7 billion
-47.7% on the year
FY2011FY2018
Operating margin
31.8%
5.7% a year earlier
FY2011FY2018
Net income
$637 million
+108.9% on the year
FY2011FY2018
Diluted EPS
$3.02
-5.0% 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
1,730
3,307
3,140
-47.7%
Cost of revenue
911
651
756
+40.0%
Gross profit
n/a
2,656
2,384
Gross margin
n/a
80.3%
75.9%
Research and development
132
251
213
-47.4%
Operating income
549
188
-32.6
+191.5%
Operating margin
31.8%
5.7%
-1.0%
Interest expense
81.5
105
109
-22.6%
Pre-tax income
476
67.0
-81.1
+610.2%
Income tax
14.5
-291
-64.9
Effective tax rate
3.0%
-434.7%
n/a
Net income
637
305
-41.3
+108.9%
Net margin
36.8%
9.2%
-1.3%
Diluted EPS
$3.02
$3.18
-$0.52
-5.0%
$ 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
988
417
344
+137.1%
Capital expenditure
31.4
75.5
78.0
-58.4%
Free cash flow
957
341
266
+180.4%
Free cash flow margin
55.3%
10.3%
8.5%
Cash from investing
-173
42.0
12.9
Cash from financing
-313
-197
-492
Depreciation and amortisation
36.1
116
151
-68.9%
Share-based compensation
66.0
265
105
-75.0%
Buybacks
133
56.4
309
+136.5%
Dividends paid
105
0.0
0.0
Dividend per share
n/a
$0.00
$0.00
Diluted shares, weighted
204m
85m
80m
+138.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,843
2,430
1,869
+17.0%
Non-controlling interest
709
517
141
+37.1%
Redeemable equity
65.7
42.9
32.8
+53.2%
Debt
2,348
2,102
1,623
+11.7%
Other liabilities
909
776
979
+17.2%
Total liabilities and equity
6,875
5,868
4,646
+17.2%
Fixed assets
319
315
306
+1.2%
Goodwill
1,245
2,559
1,924
-51.3%
Intangible assets
631
664
355
-4.9%
Investments
358
70.0
212
+412.1%
Cash and equivalents
187
273
1,329
-31.4%
Receivables
279
304
220
-8.2%
Other assets
3,855
1,683
299
+129.0%
Total assets
6,875
5,868
4,646
+17.2%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.