Teva Pharmaceutical Industries (TEVA) FY2018 results: revenue $18.3 billion, down 16.4% on the year
Teva Pharmaceutical Industries Ltd. (TEVA) reported revenue of $18.3 billion for fiscal 2018, the year ended 31 December 2018, down 16.4% on the year before. Net income was -$2.1 billion, and diluted earnings per share $-2.35. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$18.3 billion
-16.4% on the year
FY2011FY2018
Operating margin
-9.0%
-80.0% a year earlier
FY2011FY2018
Net income
-$2.1 billion
FY2011FY2018
Diluted EPS
-$2.35
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
18,271
21,853
21,903
-16.4%
Cost of revenue
9,975
11,237
10,250
-11.2%
Gross profit
8,296
10,615
11,653
-21.8%
Gross margin
45.4%
48.6%
53.2%
Research and development
114
175
422
-34.9%
Operating income
-1,637
-17,484
2,154
Operating margin
-9.0%
-80.0%
9.8%
Interest expense
920
875
546
+5.1%
Pre-tax income
-2,596
-18,379
824
Income tax
-195
-1,933
521
Effective tax rate
n/a
n/a
63.2%
Net income
-2,150
-16,265
329
Net margin
-11.8%
-74.4%
1.5%
Diluted EPS
-$2.35
-$16.26
$0.07
$ 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
2,446
2,225
3,890
+9.9%
Capital expenditure
651
874
901
-25.5%
Free cash flow
1,795
1,351
2,989
+32.9%
Free cash flow margin
9.8%
6.2%
13.6%
Cash from investing
1,866
3,446
-34,405
-45.9%
Cash from financing
-3,351
-5,750
25,217
Depreciation and amortisation
1,842
2,112
1,524
-12.8%
Share-based compensation
155
133
124
+16.5%
Buybacks
n/a
0.0
0.0
Dividends paid
12.0
901
1,303
-98.7%
Dividend per share
$0.00
$1.36
$1.36
Diluted shares, weighted
1,021m
1,016m
n/a
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
14,707
17,359
33,337
-15.3%
Non-controlling interest
1,087
1,386
1,656
-21.6%
Debt
28,916
32,475
35,800
-11.0%
Other liabilities
15,973
19,395
22,097
-17.6%
Total liabilities and equity
60,683
70,615
92,890
-14.1%
Fixed assets
6,868
7,673
8,073
-10.5%
Goodwill
24,917
28,414
44,409
-12.3%
Intangible assets
14,005
17,640
21,487
-20.6%
Cash and equivalents
1,782
963
988
+85.0%
Receivables
5,822
7,128
7,523
-18.3%
Inventory
4,731
4,924
4,954
-3.9%
Other assets
2,558
3,873
5,456
-34.0%
Total assets
60,683
70,615
92,890
-14.1%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.