Prudential Financial (PRU) FY2018 results: revenue $63.0 billion, up 5.5% on the year
Prudential Financial Inc. (PRU) reported revenue of $63.0 billion for fiscal 2018, the year ended 31 December 2018, up 5.5% on the year before. Net income was $4.1 billion, down 48.2%, and diluted earnings per share $9.50. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$63.0 billion
+5.5% on the year
FY2011FY2018
Operating margin
7.7%
10.9% a year earlier
FY2011FY2018
Net income
$4.1 billion
-48.2% on the year
FY2011FY2018
Diluted EPS
$9.50
-46.8% 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
62,992
59,689
58,779
+5.5%
Operating income
4,834
6,487
5,705
-25.5%
Operating margin
7.7%
10.9%
9.7%
Interest expense
1,420
1,327
1,320
+7.0%
Pre-tax income
4,834
6,487
5,705
-25.5%
Income tax
822
-1,438
1,335
Effective tax rate
17.0%
-22.2%
23.4%
Net income
4,074
7,863
4,368
-48.2%
Net margin
6.5%
13.2%
7.4%
Diluted EPS
$9.50
$17.86
$9.71
-46.8%
$ 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
21,664
13,445
14,876
+61.1%
Cash from investing
-21,628
-11,934
-21,694
Cash from financing
781
-1,258
3,201
Depreciation and amortisation
161
222
318
-27.5%
Share-based compensation
155
263
202
-41.1%
Buybacks
1,500
1,250
2,000
+20.0%
Dividends paid
1,521
1,296
1,300
+17.4%
Dividend per share
$3.60
$3.00
$2.80
+20.0%
Diluted shares, weighted
426m
436m
447m
-2.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
48,617
54,236
45,863
-10.4%
Non-controlling interest
414
275
225
+50.5%
Debt
17,378
17,172
18,041
+1.2%
Other liabilities
748,669
760,238
719,833
-1.5%
Total liabilities and equity
815,078
831,921
783,962
-2.0%
Goodwill
863
843
833
+2.4%
Intangible assets
348
342
310
+1.8%
Investments
6,469
5,154
n/a
+25.5%
Securities held for sale or to maturity
n/a
n/a
323,563
Cash and equivalents
15,353
14,490
14,127
+6.0%
Other assets
792,045
811,092
445,129
-2.3%
Total assets
815,078
831,921
783,962
-2.0%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.