Resmed (RMD) FY2019 results: revenue $2.6 billion, up 11.4% on the year
Resmed Inc. (RMD) reported revenue of $2.6 billion for fiscal 2019, the year ended 30 June 2019, up 11.4% on the year before. Net income was $405 million, up 28.2%, and diluted earnings per share $2.80. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2019.
Revenue
$2.6 billion
+11.4% on the year
FY2012FY2019
Operating margin
22.2%
23.2% a year earlier
FY2012FY2019
Net income
$405 million
+28.2% on the year
FY2012FY2019
Diluted EPS
$2.80
+27.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,607
2,340
2,067
+11.4%
Cost of revenue
1,113
1,005
865
+10.7%
Gross profit
1,494
1,335
1,202
+11.9%
Gross margin
57.3%
57.0%
58.1%
Research and development
181
155
144
+16.4%
Selling, general and administrative
645
600
554
+7.4%
Operating income
579
542
426
+6.9%
Operating margin
22.2%
23.2%
20.6%
Interest expense
36.2
28.4
28.2
+27.5%
Pre-tax income
519
521
419
-0.5%
Income tax
114
206
76.5
-44.5%
Effective tax rate
22.0%
39.5%
18.3%
Net income
405
316
342
+28.2%
Net margin
15.5%
13.5%
16.6%
Diluted EPS
$2.80
$2.19
$2.40
+27.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
459
505
414
-9.1%
Capital expenditure
68.7
62.6
62.2
+9.8%
Free cash flow
390
442
352
-11.8%
Free cash flow margin
15.0%
18.9%
17.0%
Cash from investing
-1,076
-102
-81.9
Cash from financing
581
-1,027
-263
Depreciation and amortisation
151
120
112
+25.7%
Share-based compensation
52.1
48.4
45.9
+7.6%
Buybacks
22.8
53.8
n/a
-57.5%
Dividends paid
212
199
186
+6.1%
Dividend per share
$1.48
$1.40
$1.32
+5.7%
Diluted shares, weighted
144m
144m
142m
+0.3%
Shares outstanding at period end
144m
143m
142m
+0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,072
2,059
1,960
+0.6%
Debt
1,271
281
1,079
+351.5%
Other liabilities
765
723
430
+5.7%
Total liabilities and equity
4,108
3,064
3,468
+34.1%
Fixed assets
387
387
394
+0.2%
Goodwill
1,856
1,069
1,065
+73.7%
Intangible assets
522
215
262
+142.6%
Cash and equivalents
147
189
822
-22.0%
Receivables
528
484
451
+9.3%
Inventory
350
269
268
+30.1%
Other assets
317
452
207
-30.0%
Total assets
4,108
3,064
3,468
+34.1%
10-K for the year ended 30 June 2019, filed 8 August 2019: the filing.