Ingevity (NGVT) FY2018 results: revenue $1.1 billion, up 16.6% on the year
Ingevity Corp. (NGVT) reported revenue of $1.1 billion for fiscal 2018, the year ended 31 December 2018, up 16.6% on the year before. Net income was $169 million, up 33.7%, and diluted earnings per share $3.97. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$1.1 billion
+16.6% on the year
FY2014FY2018
Operating margin
28.3%
25.0% a year earlier
FY2014FY2018
Net income
$169 million
+33.7% on the year
FY2014FY2018
Diluted EPS
$3.97
+33.7% on the year
FY2014FY2018
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
1,134
972
908
+16.6%
Cost of revenue
717
643
634
+11.4%
Gross profit
417
329
274
+26.7%
Gross margin
36.8%
33.8%
30.2%
Research and development
21.5
19.8
17.6
+8.6%
Selling, general and administrative
132
106
96.4
+24.4%
Operating income
320
243
164
+32.1%
Operating margin
28.3%
25.0%
18.0%
Interest expense
33.2
18.1
19.3
+83.4%
Pre-tax income
222
175
87.0
+26.9%
Income tax
40.0
29.6
42.6
+35.1%
Effective tax rate
18.0%
16.9%
49.0%
Net income
169
126
35.2
+33.7%
Net margin
14.9%
13.0%
3.9%
Diluted EPS
$3.97
$2.97
$0.83
+33.7%
$ 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
252
174
128
+44.6%
Capital expenditure
93.9
52.6
56.7
+78.5%
Free cash flow
158
122
71.2
+29.9%
Free cash flow margin
13.9%
12.5%
7.8%
Cash from investing
-414
-58.6
-126
Cash from financing
154
-57.8
-3.4
Depreciation and amortisation
57.0
40.4
38.8
+41.1%
Share-based compensation
12.5
10.1
4.7
+23.8%
Buybacks
47.4
6.6
0.0
+618.2%
Diluted shares, weighted
43m
43m
42m
+0.2%
Shares outstanding at period end
42m
42m
42m
-0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
339
264
127
+28.3%
Non-controlling interest
0.0
14.0
7.6
Debt
759
455
492
+66.8%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
218
197
206
+10.6%
Total liabilities and equity
1,315
930
833
+41.5%
Fixed assets
524
438
423
+19.5%
Goodwill
131
12.4
12.4
+954.0%
Intangible assets
126
4.9
7.3
+2,463.3%
Cash and equivalents
77.5
87.9
30.5
-11.8%
Receivables
119
100
89.8
+18.9%
Inventory
191
160
151
+19.6%
Other assets
147
126
119
+17.0%
Total assets
1,315
930
833
+41.5%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.