Marzetti (MZTI) FY2018 results: revenue $1.2 billion, up 1.8% on the year
Marzetti Co. (MZTI) reported revenue of $1.2 billion for fiscal 2018, the year ended 30 June 2018, up 1.8% on the year before. Net income was $135 million, up 17.3%, and diluted earnings per share $4.92. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2019.
Revenue
$1.2 billion
+1.8% on the year
FY2011FY2018
Operating margin
14.0%
14.5% a year earlier
FY2011FY2018
Net income
$135 million
+17.3% on the year
FY2011FY2018
Diluted EPS
$4.92
+17.1% 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
1,223
1,202
1,191
+1.8%
Cost of revenue
919
883
891
+4.1%
Gross profit
304
319
300
-4.8%
Gross margin
24.8%
26.5%
25.2%
Selling, general and administrative
130
126
115
+3.4%
Operating income
172
174
185
-1.6%
Operating margin
14.0%
14.5%
15.5%
Pre-tax income
174
176
185
-0.7%
Income tax
38.9
60.2
62.9
-35.4%
Effective tax rate
22.3%
34.3%
34.1%
Net income
135
115
122
+17.3%
Net margin
11.1%
9.6%
10.2%
Diluted EPS
$4.92
$4.20
$4.44
+17.1%
$ 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
161
146
146
+9.8%
Capital expenditure
31.0
27.0
16.7
+14.9%
Free cash flow
130
119
129
+8.6%
Free cash flow margin
10.6%
9.9%
10.8%
Cash from investing
-31.5
-60.6
-17.4
Cash from financing
-66.6
-60.8
-193
Depreciation and amortisation
26.9
24.9
24.1
+8.0%
Share-based compensation
5.0
4.2
3.3
+18.6%
Buybacks
1.1
0.9
0.2
+27.3%
Dividends paid
64.5
59.0
191
+9.4%
Dividend per share
$2.35
$2.15
$6.96
+9.3%
Diluted shares, weighted
27m
27m
27m
+0.1%
Shares outstanding at period end
27m
27m
27m
+0.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
652
576
514
+13.2%
Debt
0.0
0.0
0.0
Other liabilities
152
140
121
+8.4%
Total liabilities and equity
804
716
635
+12.3%
Fixed assets
191
181
170
+5.6%
Goodwill
168
168
144
0.0%
Intangible assets
56.2
60.2
44.9
-6.6%
Cash and equivalents
206
143
118
+43.8%
Receivables
73.0
69.9
66.0
+4.3%
Inventory
90.9
76.4
76.1
+19.0%
Other assets
19.9
18.1
16.3
+9.7%
Total assets
804
716
635
+12.3%
10-K for the year ended 30 June 2018, filed 27 August 2019: the filing.