Truist Financial (TFC) FY2018 results: revenue $11.6 billion, up 2.1% on the year
Truist Financial Corp. (TFC) reported revenue of $11.6 billion for fiscal 2018, the year ended 31 December 2018, up 2.1% on the year before. Net income was $3.1 billion, up 38.0%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$11.6 billion
+2.1% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$3.1 billion
+38.0% on the year
FY2011FY2018
Diluted EPS
$3.91
+42.7% 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
11,558
11,317
10,793
+2.1%
Interest expense
1,438
839
745
+71.4%
Pre-tax income
4,060
3,326
3,500
+22.1%
Income tax
803
911
1,058
-11.9%
Effective tax rate
19.8%
27.4%
30.2%
Net income
3,063
2,220
2,259
+38.0%
Net margin
26.5%
19.6%
20.9%
Diluted EPS
$3.91
$2.74
$2.77
+42.7%
$ 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
4,349
4,635
3,115
-6.2%
Capital expenditure
363
n/a
n/a
Free cash flow
3,986
n/a
n/a
Cash from investing
-4,963
-5,410
-976
Cash from financing
1,502
-549
-1,882
Share-based compensation
141
132
115
+6.8%
Buybacks
1,205
1,613
520
-25.3%
Dividends paid
1,204
1,005
925
+19.8%
Dividend per share
$1.56
$1.26
$1.15
+23.8%
Diluted shares, weighted
783m
811m
815m
-3.4%
Shares outstanding at period end
763m
782m
809m
-2.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
30,178
29,695
29,926
+1.6%
Deposits
161,199
157,371
160,234
+2.4%
Debt
28,887
28,586
23,371
+1.1%
Other liabilities
5,433
5,990
5,745
-9.3%
Total liabilities and equity
225,697
221,642
219,276
+1.8%
Fixed assets
2,118
2,055
2,107
+3.1%
Goodwill
9,818
9,618
9,638
+2.1%
Intangible assets
758
711
854
+6.6%
Securities held for sale or to maturity
45,590
47,574
43,606
-4.2%
Loans
147,455
142,211
141,833
+3.7%
Resale agreements
143
n/a
144
Securities borrowed
0.0
n/a
n/a
Trading assets
391
633
748
-38.2%
Cash and equivalents
3,844
2,956
4,280
+30.0%
Other assets
15,580
15,884
16,066
-1.9%
Total assets
225,697
221,642
219,276
+1.8%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.