SM Energy (SM) FY2018 results: revenue $2.1 billion, up 83.0% on the year
SM Energy Co. (SM) reported revenue of $2.1 billion for fiscal 2018, the year ended 31 December 2018, up 83.0% on the year before. Net income was $508 million, and diluted earnings per share $4.48. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$2.1 billion
+83.0% on the year
FY2011FY2018
Operating margin
40.5%
-14.5% a year earlier
FY2011FY2018
Net income
$508 million
FY2011FY2018
Diluted EPS
$4.48
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
2,067
1,129
1,217
+83.0%
Cost of revenue
487
508
598
-4.0%
Gross profit
1,580
621
620
+154.2%
Gross margin
76.4%
55.0%
50.9%
Operating income
836
-164
-1,057
Operating margin
40.5%
-14.5%
-86.8%
Interest expense
161
179
159
-10.2%
Pre-tax income
652
-344
-1,202
Income tax
143
-183
-444
Effective tax rate
22.0%
n/a
n/a
Net income
508
-161
-758
Net margin
24.6%
-14.2%
-62.2%
Diluted EPS
$4.48
-$1.44
-$9.90
$ 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
721
515
553
+39.8%
Cash from investing
-588
-202
-1,868
Cash from financing
-369
-12.3
1,327
Share-based compensation
23.9
22.7
26.9
+5.3%
Dividends paid
11.2
11.1
7.8
+0.4%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
114m
111m
77m
+1.9%
Shares outstanding at period end
112m
112m
111m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,920
2,395
2,497
+22.0%
Debt
2,596
2,909
2,898
-10.7%
Other liabilities
836
873
999
-4.3%
Total liabilities and equity
6,353
6,177
6,394
+2.9%
Fixed assets
5,831
5,555
6,081
+5.0%
Cash and equivalents
78.0
314
9.4
-75.2%
Receivables
168
160
152
+4.6%
Other assets
276
148
151
+86.8%
Total assets
6,353
6,177
6,394
+2.9%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.