Performance Food Group (PFGC) FY2018 results: revenue $17.6 billion, up 5.1% on the year
Performance Food Group Co. (PFGC) reported revenue of $17.6 billion for fiscal 2018, the year ended 30 June 2018, up 5.1% on the year before. Net income was $199 million, up 106.3%, and diluted earnings per share $1.90. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2018.
Revenue
$17.6 billion
+5.1% on the year
FY2014FY2018
Operating margin
1.4%
1.3% a year earlier
FY2014FY2018
Net income
$199 million
+106.3% on the year
FY2014FY2018
Diluted EPS
$1.90
+104.3% 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
17,620
16,762
16,105
+5.1%
Cost of revenue
15,327
14,637
14,095
+4.7%
Gross profit
2,293
2,125
2,010
+7.9%
Gross margin
13.0%
12.7%
12.5%
Operating income
254
211
202
+20.1%
Operating margin
1.4%
1.3%
1.3%
Interest expense
60.4
54.9
83.9
+10.0%
Pre-tax income
194
158
114
+22.8%
Income tax
-5.1
61.4
46.2
Effective tax rate
-2.6%
38.9%
40.3%
Net income
199
96.3
68.3
+106.3%
Net margin
1.1%
0.6%
0.4%
Diluted EPS
$1.90
$0.93
$0.70
+104.3%
$ 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
367
202
228
+82.0%
Capital expenditure
140
140
120
-0.1%
Free cash flow
227
61.5
109
+268.9%
Free cash flow margin
1.3%
0.4%
0.7%
Cash from investing
-209
-332
-158
Cash from financing
-161
128
-76.5
Depreciation and amortisation
130
126
119
+3.2%
Share-based compensation
21.6
17.3
17.2
+24.9%
Diluted shares, weighted
105m
103m
98m
+1.5%
Shares outstanding at period end
103m
101m
100m
+2.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,135
926
803
+22.7%
Debt
1,123
1,248
1,112
-10.0%
Other liabilities
1,743
1,631
1,541
+6.8%
Total liabilities and equity
4,001
3,804
3,455
+5.2%
Fixed assets
796
741
637
+7.4%
Goodwill
740
719
674
+3.0%
Intangible assets
194
201
149
-3.6%
Cash and equivalents
17.8
21.0
23.8
-15.2%
Receivables
1,066
1,028
968
+3.6%
Inventory
1,052
1,013
920
+3.8%
Other assets
136
80.9
83.4
+67.9%
Total assets
4,001
3,804
3,455
+5.2%
10-K for the year ended 30 June 2018, filed 16 August 2018: the filing.