SLB (SLB) FY2018 results: revenue $32.8 billion, up 7.8% on the year
SLB Limited (SLB) reported revenue of $32.8 billion for fiscal 2018, the year ended 31 December 2018, up 7.8% on the year before. Net income was $2.1 billion, and diluted earnings per share $1.53. The figures are the company's own, from the 10-K it filed with the SEC on 23 January 2019.
Revenue
$32.8 billion
+7.8% on the year
FY2011FY2018
Operating margin
12.8%
12.9% a year earlier
FY2011FY2018
Net income
$2.1 billion
FY2011FY2018
Diluted EPS
$1.53
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
32,815
30,440
27,810
+7.8%
Cost of revenue
28,478
26,543
24,409
+7.3%
Gross profit
4,337
3,897
3,401
+11.3%
Gross margin
13.2%
12.8%
12.2%
Research and development
702
787
1,012
-10.8%
Operating income
4,187
3,921
3,273
+6.8%
Operating margin
12.8%
12.9%
11.8%
Interest expense
575
566
570
+1.6%
Pre-tax income
2,624
-1,183
-1,905
Income tax
447
330
-278
+35.5%
Effective tax rate
17.0%
n/a
n/a
Net income
2,138
-1,505
-1,687
Net margin
6.5%
-4.9%
-6.1%
Diluted EPS
$1.53
-$1.08
-$1.24
$ 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
5,713
5,663
6,261
+0.9%
Capital expenditure
2,160
2,107
2,055
+2.5%
Free cash flow
3,553
3,556
4,206
-0.1%
Free cash flow margin
10.8%
11.7%
15.1%
Cash from investing
-1,040
-1,779
-624
Cash from financing
-5,020
-5,033
-5,428
Depreciation and amortisation
3,556
3,837
4,094
-7.3%
Share-based compensation
345
343
267
+0.6%
Dividends paid
2,770
2,778
2,647
-0.3%
Diluted shares, weighted
1,393m
1,388m
1,357m
+0.4%
Shares outstanding at period end
1,383m
1,384m
1,391m
-0.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
36,162
36,842
41,078
-1.8%
Non-controlling interest
424
419
451
+1.2%
Debt
16,051
18,199
19,616
-11.8%
Other liabilities
17,870
16,527
16,811
+8.1%
Total liabilities and equity
70,507
71,987
77,956
-2.1%
Fixed assets
11,679
11,576
12,821
+0.9%
Goodwill
24,931
25,118
24,990
-0.7%
Intangible assets
8,727
9,354
9,855
-6.7%
Investments
1,344
3,290
41.0
-59.1%
Cash and equivalents
1,433
1,799
2,929
-20.3%
Receivables
7,881
8,084
9,387
-2.5%
Inventory
4,010
4,046
4,225
-0.9%
Other assets
10,502
8,720
13,708
+20.4%
Total assets
70,507
71,987
77,956
-2.1%
10-K for the year ended 31 December 2018, filed 23 January 2019: the filing.