Sabre (SABR) FY2018 results: revenue $3.9 billion, up 7.5% on the year
Sabre Corp. (SABR) reported revenue of $3.9 billion for fiscal 2018, the year ended 31 December 2018, up 7.5% on the year before. Net income was $338 million, up 39.2%, and diluted earnings per share $1.22. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$3.9 billion
+7.5% on the year
FY2012FY2018
Operating margin
14.5%
13.7% a year earlier
FY2012FY2018
Net income
$338 million
+39.2% on the year
FY2012FY2018
Diluted EPS
$1.22
+40.2% on the year
FY2012FY2018
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
3,867
3,598
3,373
+7.5%
Cost of revenue
1,654
2,514
2,288
-34.2%
Gross profit
2,213
1,085
1,086
+104.0%
Gross margin
57.2%
30.1%
32.2%
Selling, general and administrative
552
510
626
+8.2%
Operating income
562
493
460
+13.9%
Operating margin
14.5%
13.7%
13.6%
Interest expense
157
154
158
+2.0%
Pre-tax income
398
378
328
+5.5%
Income tax
57.5
128
86.6
-55.1%
Effective tax rate
14.4%
33.9%
26.4%
Net income
338
243
243
+39.2%
Net margin
8.7%
6.7%
7.2%
Diluted EPS
$1.22
$0.87
$0.86
+40.2%
$ 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
723
673
680
+7.4%
Capital expenditure
284
316
328
-10.3%
Free cash flow
439
357
352
+23.0%
Free cash flow margin
11.4%
9.9%
10.4%
Cash from investing
-275
-318
-446
Cash from financing
-307
-357
-190
Depreciation and amortisation
304
265
233
+14.6%
Share-based compensation
57.3
44.7
48.5
+28.1%
Buybacks
26.3
109
100
-75.9%
Dividends paid
154
155
144
-0.5%
Dividend per share
$0.56
$0.56
$0.13
0.0%
Diluted shares, weighted
278m
278m
283m
-0.3%
Shares outstanding at period end
275m
274m
277m
+0.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
974
698
626
+39.5%
Debt
3,432
3,488
3,478
-1.6%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,400
1,463
1,620
-4.3%
Total liabilities and equity
5,806
5,649
5,725
+2.8%
Fixed assets
790
799
753
-1.1%
Goodwill
2,552
2,555
2,548
-0.1%
Intangible assets
613
683
775
-10.2%
Cash and equivalents
509
361
364
+40.9%
Receivables
508
491
401
+3.6%
Other assets
833
760
883
+9.6%
Total assets
5,806
5,649
5,725
+2.8%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.