NetApp (NTAP) FY2018 results: revenue $5.9 billion, up 7.6% on the year
NetApp, Inc. (NTAP) reported revenue of $5.9 billion for fiscal 2018, the year ended 27 April 2018, up 7.6% on the year before. Net income was $116 million, down 75.9%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 19 June 2018.
Revenue
$5.9 billion
+7.6% on the year
FY2011FY2018
Operating margin
19.6%
11.3% a year earlier
FY2011FY2018
Net income
$116 million
-75.9% on the year
FY2011FY2018
Diluted EPS
$0.42
-75.4% 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
5,911
5,491
5,546
+7.6%
Cost of revenue
2,212
2,129
2,173
+3.9%
Gross profit
3,709
3,364
3,373
+10.3%
Gross margin
62.7%
61.3%
60.8%
Research and development
783
779
861
+0.5%
Operating income
1,158
621
348
+86.5%
Operating margin
19.6%
11.3%
6.3%
Interest expense
62.0
52.0
49.0
+19.2%
Pre-tax income
1,199
621
345
+93.1%
Income tax
1,083
140
116
+673.6%
Effective tax rate
90.3%
22.5%
33.6%
Net income
116
481
229
-75.9%
Net margin
2.0%
8.8%
4.1%
Diluted EPS
$0.42
$1.71
$0.77
-75.4%
$ 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
1,478
986
974
+49.9%
Capital expenditure
145
175
160
-17.1%
Free cash flow
1,333
811
814
+64.4%
Free cash flow margin
22.6%
14.8%
14.7%
Cash from investing
-21.0
-223
85.0
Cash from financing
-986
-1,179
-109
Depreciation and amortisation
145
178
212
-18.5%
Share-based compensation
161
195
260
-17.4%
Buybacks
794
705
960
+12.6%
Dividends paid
214
208
210
+2.9%
Dividend per share
$0.80
$0.76
$0.72
+5.3%
Diluted shares, weighted
276m
281m
297m
-1.8%
Shares outstanding at period end
263m
269m
281m
-2.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,276
2,949
2,881
-22.8%
Debt
1,926
1,993
2,339
-3.4%
Other liabilities
5,789
4,551
4,817
+27.2%
Total liabilities and equity
9,991
9,493
10,037
+5.2%
Fixed assets
756
799
937
-5.4%
Goodwill
1,739
1,684
1,676
+3.3%
Intangible assets
94.0
131
180
-28.2%
Investments
2,450
2,477
2,435
-1.1%
Cash and equivalents
2,941
2,444
2,868
+20.3%
Receivables
1,047
731
813
+43.2%
Inventory
122
163
98.0
-25.2%
Other assets
842
1,064
1,030
-20.9%
Total assets
9,991
9,493
10,037
+5.2%
10-K for the year ended 27 April 2018, filed 19 June 2018: the filing.