Phibro Animal Health (PAHC) FY2018 results: revenue $820 million, up 7.3% on the year
Phibro Animal Health Corp. (PAHC) reported revenue of $820 million for fiscal 2018, the year ended 30 June 2018, up 7.3% on the year before. Net income was $65 million, up 0.4%, and diluted earnings per share $1.61. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2018.
Revenue
$820 million
+7.3% on the year
FY2012FY2018
Operating margin
12.1%
12.8% a year earlier
FY2012FY2018
Net income
$65 million
+0.4% on the year
FY2012FY2018
Diluted EPS
$1.61
0.0% on the year
FY2012FY2018
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
820
764
752
+7.3%
Cost of revenue
553
516
512
+7.2%
Gross profit
267
248
239
+7.5%
Gross margin
32.5%
32.5%
31.8%
Research and development
10.0
9.4
11.0
+5.9%
Selling, general and administrative
168
150
153
+11.7%
Operating income
98.9
97.9
85.7
+1.0%
Operating margin
12.1%
12.8%
11.4%
Interest expense
13.6
16.9
16.8
-19.4%
Pre-tax income
88.1
80.5
76.8
+9.3%
Income tax
23.2
15.9
-6.0
+45.6%
Effective tax rate
26.3%
19.8%
-7.8%
Net income
64.9
64.6
82.7
+0.4%
Net margin
7.9%
8.5%
11.0%
Diluted EPS
$1.61
$1.61
$2.07
0.0%
$ 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
70.0
98.4
37.2
-28.8%
Capital expenditure
18.5
20.9
36.4
-11.2%
Free cash flow
51.5
77.5
0.9
-33.6%
Free cash flow margin
6.3%
10.1%
0.1%
Cash from investing
-84.6
-21.9
-82.8
Cash from financing
-11.8
-53.7
50.4
Depreciation and amortisation
26.9
26.0
23.5
+3.6%
Share-based compensation
0.3
0.0
n/a
Dividends paid
16.1
15.8
15.7
+1.6%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
40m
40m
40m
+0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
185
151
90.5
+22.4%
Deposits
n/a
n/a
-6.0
Debt
312
313
350
-0.2%
Other liabilities
174
159
173
+9.6%
Total liabilities and equity
672
623
608
+7.7%
Fixed assets
130
127
127
+2.2%
Goodwill
27.3
24.0
21.1
+14.0%
Intangible assets
52.0
54.6
60.1
-4.8%
Investments
50.0
n/a
n/a
Cash and equivalents
29.2
56.1
33.6
-48.0%
Receivables
136
126
124
+7.9%
Inventory
178
161
168
+10.5%
Other assets
69.2
74.3
74.2
-6.9%
Total assets
672
623
608
+7.7%
10-K for the year ended 30 June 2018, filed 27 August 2018: the filing.