Neurocrine Biosciences (NBIX) FY2018 results: revenue $451 million, up 179.2% on the year
Neurocrine Biosciences Inc. (NBIX) reported revenue of $451 million for fiscal 2018, the year ended 31 December 2018, up 179.2% on the year before. Net income was $21 million, and diluted earnings per share $0.22. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$451 million
+179.2% on the year
FY2011FY2018
Operating margin
8.2%
-81.3% a year earlier
FY2011FY2018
Net income
$21 million
FY2011FY2018
Diluted EPS
$0.22
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
451
162
15.0
+179.2%
Cost of revenue
4.9
1.3
0.0
+289.9%
Gross profit
446
160
15.0
+178.3%
Gross margin
98.9%
99.2%
100.0%
Research and development
161
122
94.3
+31.8%
Selling, general and administrative
249
170
68.1
+46.5%
Operating income
36.8
-131
-147
Operating margin
8.2%
-81.3%
-982.5%
Interest expense
30.5
19.5
0.0
+56.4%
Pre-tax income
21.8
-143
-141
Income tax
0.7
0.0
0.0
Effective tax rate
3.2%
n/a
n/a
Net income
21.1
-143
-141
Net margin
4.7%
-88.2%
-940.6%
Diluted EPS
$0.22
-$1.62
-$1.63
$ 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
101
-94.3
-106
Capital expenditure
24.8
6.9
4.1
+257.5%
Free cash flow
76.6
-101
-110
Free cash flow margin
17.0%
-62.7%
-735.3%
Cash from investing
-243
-251
113
Cash from financing
29.5
517
2.4
-94.3%
Depreciation and amortisation
4.0
2.4
1.5
+67.7%
Share-based compensation
58.1
42.5
28.5
+36.6%
Diluted shares, weighted
95m
88m
87m
+8.3%
Shares outstanding at period end
91m
89m
87m
+2.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
481
372
315
+29.2%
Debt
388
370
0.0
+5.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
124
75.8
50.2
+63.4%
Total liabilities and equity
993
818
365
+21.5%
Fixed assets
33.9
10.8
6.3
+213.3%
Investments
725
509
268
+42.6%
Cash and equivalents
142
255
83.3
-44.4%
Receivables
57.4
31.1
0.0
+84.4%
Inventory
10.9
1.0
0.0
+960.9%
Other assets
24.1
11.3
8.0
+112.3%
Total assets
993
818
365
+21.5%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.