Pentair (PNR) FY2018 results: revenue $3.0 billion, up 4.2% on the year
Pentair plc (PNR) reported revenue of $3.0 billion for fiscal 2018, the year ended 31 December 2018, up 4.2% on the year before. Net income was $347 million, down 47.9%, and diluted earnings per share $1.96. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$3.0 billion
+4.2% on the year
FY2011FY2018
Operating margin
14.7%
13.3% a year earlier
FY2011FY2018
Net income
$347 million
-47.9% on the year
FY2011FY2018
Diluted EPS
$1.96
-46.0% 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
2,965
2,846
2,781
+4.2%
Cost of revenue
1,917
1,858
1,822
+3.2%
Gross profit
1,048
988
959
+6.1%
Gross margin
35.3%
34.7%
34.5%
Research and development
76.7
73.2
73.3
+4.8%
Selling, general and administrative
534
536
531
-0.3%
Operating income
437
378
354
+15.4%
Operating margin
14.7%
13.3%
12.7%
Interest expense
32.6
87.3
140
-62.7%
Pre-tax income
380
173
221
+119.8%
Income tax
58.1
58.7
42.7
-1.0%
Effective tax rate
15.3%
34.0%
19.3%
Net income
347
666
522
-47.9%
Net margin
11.7%
23.4%
18.8%
Diluted EPS
$1.96
$3.63
$2.85
-46.0%
$ 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
439
620
861
-29.2%
Capital expenditure
48.2
39.1
43.3
+23.3%
Free cash flow
391
581
818
-32.7%
Free cash flow margin
13.2%
20.4%
29.4%
Cash from investing
-68.8
2,630
-122
Cash from financing
-408
-3,433
-600
Share-based compensation
20.9
39.6
34.2
-47.2%
Buybacks
500
200
0.0
+150.0%
Dividends paid
187
252
244
-25.6%
Dividend per share
$1.05
$1.38
$1.34
-23.9%
Diluted shares, weighted
177m
184m
183m
-3.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,836
5,038
4,254
-63.6%
Debt
788
1,441
4,279
-45.3%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,183
2,155
3,001
-45.1%
Total liabilities and equity
3,806
8,634
11,535
-55.9%
Fixed assets
273
280
539
-2.6%
Goodwill
2,073
2,113
1,995
-1.9%
Intangible assets
276
322
1,632
-14.1%
Cash and equivalents
74.3
86.3
217
-13.9%
Inventory
388
357
524
+8.6%
Other assets
723
5,476
6,629
-86.8%
Total assets
3,806
8,634
11,535
-55.9%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.