Resmed (RMD) FY2018 results: revenue $2.3 billion, up 13.2% on the year
Resmed Inc. (RMD) reported revenue of $2.3 billion for fiscal 2018, the year ended 30 June 2018, up 13.2% on the year before. Net income was $316 million, down 7.8%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 17 August 2018.
Revenue
$2.3 billion
+13.2% on the year
FY2011FY2018
Operating margin
23.2%
20.6% a year earlier
FY2011FY2018
Net income
$316 million
-7.8% on the year
FY2011FY2018
Diluted EPS
$2.19
-8.8% 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
2,340
2,067
1,839
+13.2%
Cost of revenue
1,005
865
772
+16.2%
Gross profit
1,335
1,202
1,066
+11.1%
Gross margin
57.0%
58.1%
58.0%
Research and development
155
144
119
+7.4%
Selling, general and administrative
600
554
488
+8.4%
Operating income
542
426
429
+27.3%
Operating margin
23.2%
20.6%
23.3%
Interest expense
28.4
28.2
11.2
+0.4%
Pre-tax income
521
419
440
+24.5%
Income tax
206
76.5
87.2
+169.1%
Effective tax rate
39.5%
18.3%
19.8%
Net income
316
342
352
-7.8%
Net margin
13.5%
16.6%
19.2%
Diluted EPS
$2.19
$2.40
$2.49
-8.8%
$ 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
505
414
548
+22.0%
Capital expenditure
62.6
62.2
58.5
+0.6%
Free cash flow
442
352
489
+25.8%
Free cash flow margin
18.9%
17.0%
26.6%
Cash from investing
-102
-81.9
-1,126
Cash from financing
-1,027
-263
613
Depreciation and amortisation
120
112
86.8
+7.0%
Share-based compensation
48.4
45.9
46.4
+5.4%
Buybacks
53.8
n/a
102
Dividends paid
199
186
168
+7.1%
Dividend per share
$1.40
$1.32
$1.20
+6.1%
Diluted shares, weighted
144m
142m
142m
+1.1%
Shares outstanding at period end
143m
142m
141m
+0.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,059
1,960
1,695
+5.0%
Debt
281
1,079
1,175
-73.9%
Other liabilities
723
430
389
+68.4%
Total liabilities and equity
3,064
3,468
3,259
-11.7%
Fixed assets
387
394
384
-2.0%
Goodwill
1,069
1,065
1,059
+0.4%
Intangible assets
215
262
300
-17.8%
Cash and equivalents
189
822
731
-77.0%
Receivables
484
451
382
+7.4%
Inventory
269
268
224
+0.1%
Other assets
452
207
178
+118.7%
Total assets
3,064
3,468
3,259
-11.7%
10-K for the year ended 30 June 2018, filed 17 August 2018: the filing.