Materion (MTRN) FY2018 results: revenue $1.2 billion, up 6.0% on the year
Materion Corp. (MTRN) reported revenue of $1.2 billion for fiscal 2018, the year ended 31 December 2018, up 6.0% on the year before. Net income was $21 million, up 83.8%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$1.2 billion
+6.0% on the year
FY2011FY2018
Operating margin
5.1%
3.5% a year earlier
FY2011FY2018
Net income
$21 million
+83.8% on the year
FY2011FY2018
Diluted EPS
$1.02
+82.1% 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
1,208
1,139
969
+6.0%
Cost of revenue
957
927
785
+3.2%
Gross profit
251
213
185
+18.0%
Gross margin
20.8%
18.7%
19.0%
Research and development
15.2
14.0
12.8
+8.6%
Selling, general and administrative
153
144
129
+6.4%
Operating income
61.8
40.0
28.9
+54.3%
Operating margin
5.1%
3.5%
3.0%
Pre-tax income
16.6
36.4
25.3
-54.4%
Income tax
-4.4
24.9
-0.4
Effective tax rate
-26.8%
68.5%
-1.7%
Net income
21.0
11.5
25.7
+83.8%
Net margin
1.7%
1.0%
2.7%
Diluted EPS
$1.02
$0.56
$1.27
+82.1%
$ 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
76.4
67.8
68.2
+12.7%
Capital expenditure
27.7
27.5
27.2
+0.7%
Free cash flow
48.7
40.3
41.0
+20.8%
Free cash flow margin
4.0%
3.5%
4.2%
Cash from investing
-33.8
-43.4
-37.4
Cash from financing
-13.6
-15.4
-23.1
Depreciation and amortisation
35.5
42.8
45.7
-16.9%
Share-based compensation
5.3
5.0
3.2
+7.2%
Buybacks
0.4
1.1
3.8
-61.1%
Dividends paid
8.4
7.9
7.5
+6.0%
Dividend per share
$0.41
$0.40
$0.38
+5.1%
Diluted shares, weighted
21m
20m
20m
+1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
586
527
494
+11.2%
Short-term borrowings
0.8
0.8
0.7
+5.9%
Debt
3.0
3.8
4.6
-20.4%
Operating lease liabilities
0.0
n/a
n/a
Finance lease liabilities
15.2
n/a
n/a
Other liabilities
238
259
242
-8.2%
Total liabilities and equity
843
791
741
+6.6%
Fixed assets
251
256
253
-1.8%
Goodwill
90.7
90.7
87.0
-0.0%
Intangible assets
6.5
9.8
11.1
-34.4%
Cash and equivalents
70.6
41.8
31.5
+68.8%
Receivables
131
124
101
+5.3%
Inventory
215
220
201
-2.5%
Other assets
79.1
48.8
57.5
+62.2%
Total assets
843
791
741
+6.6%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.