Public Service Enterprise Group (PEG) FY2018 results: revenue $9.7 billion, up 6.7% on the year
Public Service Enterprise Group Inc. (PEG) reported revenue of $9.7 billion for fiscal 2018, the year ended 31 December 2018, up 6.7% on the year before. Net income was $1.4 billion, down 8.6%, and diluted earnings per share $2.83. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$9.7 billion
+6.7% on the year
FY2011FY2018
Operating margin
23.7%
15.7% a year earlier
FY2011FY2018
Net income
$1.4 billion
-8.6% on the year
FY2011FY2018
Diluted EPS
$2.83
-8.7% 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
9,696
9,084
8,966
+6.7%
Cost of revenue
3,225
2,778
2,901
+16.1%
Gross profit
6,471
6,306
6,065
+2.6%
Gross margin
66.7%
69.4%
67.6%
Operating income
2,298
1,429
1,598
+60.8%
Operating margin
23.7%
15.7%
17.8%
Interest expense
476
391
385
+21.7%
Pre-tax income
1,855
1,268
1,298
+46.3%
Income tax
417
-306
411
Effective tax rate
22.5%
-24.1%
31.7%
Net income
1,438
1,574
887
-8.6%
Net margin
14.8%
17.3%
9.9%
Diluted EPS
$2.83
$3.10
$1.75
-8.7%
$ 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
2,913
3,261
3,311
-10.7%
Capital expenditure
3,912
4,190
4,199
-6.6%
Free cash flow
-999
-929
-888
Free cash flow margin
-10.3%
-10.2%
-9.9%
Cash from investing
-3,916
-4,256
-4,248
Cash from financing
887
885
966
+0.2%
Depreciation and amortisation
1,158
1,986
1,476
-41.7%
Share-based compensation
30.0
31.0
1.0
-3.2%
Dividends paid
910
870
830
+4.6%
Dividend per share
$1.80
$1.72
$1.64
+4.7%
Diluted shares, weighted
507m
507m
508m
0.0%
Shares outstanding at period end
504m
505m
505m
-0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
14,377
13,847
13,130
+3.8%
Non-controlling interest
n/a
n/a
0.0
Debt
14,462
13,068
11,783
+10.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
16,487
15,801
15,157
+4.3%
Total liabilities and equity
45,326
42,716
40,070
+6.1%
Goodwill
16.0
16.0
16.0
0.0%
Intangible assets
143
114
98.0
+25.4%
Investments
896
932
1,050
-3.9%
Cash and equivalents
177
313
423
-43.5%
Receivables
1,435
1,348
1,161
+6.5%
Other assets
42,659
39,993
37,322
+6.7%
Total assets
45,326
42,716
40,070
+6.1%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.