Parker-Hannifin (PH) FY2018 results: revenue $14.3 billion, up 18.9% on the year
Parker-Hannifin Corp. (PH) reported revenue of $14.3 billion for fiscal 2018, the year ended 30 June 2018, up 18.9% on the year before. Net income was $1.1 billion, up 7.9%, and diluted earnings per share $7.83. The figures are the company's own, from the 10-K it filed with the SEC on 24 August 2018.
Revenue
$14.3 billion
+18.9% on the year
FY2011FY2018
Operating margin
14.3%
14.9% a year earlier
FY2011FY2018
Net income
$1.1 billion
+7.9% on the year
FY2011FY2018
Diluted EPS
$7.83
+8.0% 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
14,302
12,029
11,361
+18.9%
Cost of revenue
10,738
9,119
8,823
+17.8%
Gross profit
3,565
2,840
2,537
+25.5%
Gross margin
24.9%
23.6%
22.3%
Research and development
328
337
360
-2.6%
Selling, general and administrative
1,640
1,413
1,359
+16.1%
Operating income
2,038
1,790
1,576
+13.9%
Operating margin
14.3%
14.9%
13.9%
Interest expense
214
162
137
+31.7%
Pre-tax income
1,702
1,329
1,115
+28.1%
Income tax
641
345
308
+85.9%
Effective tax rate
37.7%
26.0%
27.6%
Net income
1,061
983
807
+7.9%
Net margin
7.4%
8.2%
7.1%
Diluted EPS
$7.83
$7.25
$5.89
+8.0%
$ 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
1,597
1,302
1,211
+22.6%
Capital expenditure
248
204
149
+21.6%
Free cash flow
1,349
1,099
1,061
+22.8%
Free cash flow margin
9.4%
9.1%
9.3%
Cash from investing
23.7
-3,365
-265
Cash from financing
-1,682
1,783
-843
Depreciation and amortisation
459
348
298
+32.0%
Share-based compensation
119
80.3
71.3
+47.9%
Buybacks
381
338
587
+12.7%
Dividends paid
365
345
342
+5.8%
Dividend per share
$2.74
$2.58
n/a
+6.2%
Diluted shares, weighted
135m
136m
137m
-0.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,860
5,262
4,575
+11.4%
Non-controlling interest
5.6
5.7
3.4
-1.2%
Debt
4,957
5,870
3,014
-15.6%
Other liabilities
4,498
4,352
4,464
+3.3%
Total liabilities and equity
15,320
15,490
12,057
-1.1%
Fixed assets
1,856
1,937
1,568
-4.2%
Goodwill
5,504
5,587
2,903
-1.5%
Intangible assets
2,016
2,307
923
-12.7%
Investments
33.0
39.3
882
-16.1%
Cash and equivalents
822
885
1,222
-7.1%
Receivables
2,146
1,931
n/a
+11.1%
Inventory
1,621
1,549
1,173
+4.6%
Other assets
1,322
1,254
3,386
+5.4%
Total assets
15,320
15,490
12,057
-1.1%
10-K for the year ended 30 June 2018, filed 24 August 2018: the filing.