TE Connectivity (TEL) FY2018 results: revenue $14.0 billion, up 14.8% on the year
TE Connectivity plc (TEL) reported revenue of $14.0 billion for fiscal 2018, the year ended 28 September 2018, up 14.8% on the year before. Net income was $2.6 billion, up 52.4%, and diluted earnings per share $7.27. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2019.
Revenue
$14.0 billion
+14.8% on the year
FY2011FY2018
Operating margin
16.7%
15.4% a year earlier
FY2011FY2018
Net income
$2.6 billion
+52.4% on the year
FY2011FY2018
Diluted EPS
$7.27
+54.7% 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
13,988
12,185
11,352
+14.8%
Cost of revenue
9,243
8,002
7,525
+15.5%
Gross profit
4,745
4,183
3,827
+13.4%
Gross margin
33.9%
34.3%
33.7%
Research and development
606
548
525
+10.6%
Selling, general and administrative
1,594
1,543
1,396
+3.3%
Operating income
2,331
1,876
1,808
+24.3%
Operating margin
16.7%
15.4%
15.9%
Interest expense
107
130
127
-17.7%
Pre-tax income
2,240
1,720
1,021
+30.2%
Income tax
-344
180
-826
Effective tax rate
-15.4%
10.5%
-80.9%
Net income
2,565
1,683
2,009
+52.4%
Net margin
18.3%
13.8%
17.7%
Diluted EPS
$7.27
$4.70
$5.44
+54.7%
$ 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
2,451
2,321
1,947
+5.6%
Capital expenditure
935
679
603
+37.7%
Free cash flow
1,516
1,642
1,344
-7.7%
Free cash flow margin
10.8%
13.5%
11.8%
Cash from investing
-1,094
-932
-1,581
Cash from financing
-1,722
-814
-3,055
Depreciation and amortisation
667
611
560
+9.2%
Share-based compensation
95.0
95.0
87.0
0.0%
Buybacks
879
614
2,787
+43.2%
Dividends paid
588
546
509
+7.7%
Dividend per share
$1.68
$1.54
$1.40
+9.1%
Diluted shares, weighted
353m
358m
369m
-1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
10,831
9,751
8,485
+11.1%
Debt
4,000
4,344
4,070
-7.9%
Other liabilities
5,555
5,308
5,053
+4.7%
Total liabilities and equity
20,386
19,403
17,608
+5.1%
Fixed assets
3,497
3,159
2,809
+10.7%
Goodwill
5,684
5,651
5,492
+0.6%
Intangible assets
1,704
1,841
1,879
-7.4%
Cash and equivalents
848
1,218
647
-30.4%
Receivables
2,361
2,138
2,046
+10.4%
Inventory
1,857
1,647
1,596
+12.8%
Other assets
4,435
3,749
3,139
+18.3%
Total assets
20,386
19,403
17,608
+5.1%
10-K for the year ended 28 September 2018, filed 12 November 2019: the filing.