ON Semiconductor (ON) FY2018 results: revenue $5.9 billion, up 6.0% on the year
ON Semiconductor Corp. (ON) reported revenue of $5.9 billion for fiscal 2018, the year ended 31 December 2018, up 6.0% on the year before. Net income was $627 million, down 22.6%, and diluted earnings per share $1.44. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$5.9 billion
+6.0% on the year
FY2011FY2018
Operating margin
14.4%
12.3% a year earlier
FY2011FY2018
Net income
$627 million
-22.6% on the year
FY2011FY2018
Diluted EPS
$1.44
-23.8% 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
5,878
5,543
3,907
+6.0%
Cost of revenue
3,640
3,509
2,610
+3.7%
Gross profit
2,239
2,034
1,300
+10.1%
Gross margin
38.1%
36.7%
33.3%
Research and development
651
594
447
+9.5%
Operating income
847
681
247
+24.4%
Operating margin
14.4%
12.3%
6.3%
Interest expense
128
141
145
-9.2%
Pre-tax income
755
548
181
+37.9%
Income tax
125
-266
-3.9
Effective tax rate
16.6%
-48.5%
-2.2%
Net income
627
811
182
-22.6%
Net margin
10.7%
14.6%
4.7%
Diluted EPS
$1.44
$1.89
$0.43
-23.8%
$ 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
1,274
1,094
581
+16.5%
Capital expenditure
515
388
211
+32.9%
Free cash flow
759
707
370
+7.5%
Free cash flow margin
12.9%
12.7%
9.5%
Cash from investing
-549
-364
-2,435
Cash from financing
-605
-811
2,265
Depreciation and amortisation
509
482
364
+5.6%
Share-based compensation
78.3
69.8
56.1
+12.2%
Buybacks
315
25.0
0.0
+1,161.2%
Diluted shares, weighted
436m
428m
420m
+1.8%
Shares outstanding at period end
414m
425m
419m
-2.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,172
2,779
1,823
+14.1%
Non-controlling interest
22.5
22.2
21.8
+1.4%
Redeemable equity
n/a
0.0
32.9
Debt
2,939
3,175
3,807
-7.4%
Other liabilities
1,454
1,219
1,240
+19.3%
Total liabilities and equity
7,588
7,195
6,924
+5.5%
Fixed assets
2,550
2,279
2,159
+11.9%
Goodwill
932
917
925
+1.7%
Intangible assets
566
628
762
-9.9%
Cash and equivalents
1,070
949
1,028
+12.7%
Receivables
686
702
630
-2.2%
Inventory
1,225
1,090
1,030
+12.5%
Other assets
558
631
390
-11.5%
Total assets
7,588
7,195
6,924
+5.5%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.