Teleflex (TFX) FY2018 results: revenue $2.4 billion, up 14.1% on the year
Teleflex Inc. (TFX) reported revenue of $2.4 billion for fiscal 2018, the year ended 31 December 2018, up 14.1% on the year before. Net income was $201 million, up 31.6%, and diluted earnings per share $4.29. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$2.4 billion
+14.1% on the year
FY2011FY2018
Operating margin
13.1%
17.3% a year earlier
FY2011FY2018
Net income
$201 million
+31.6% on the year
FY2011FY2018
Diluted EPS
$4.29
+31.2% 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
2,448
2,146
1,868
+14.1%
Cost of revenue
1,146
975
872
+17.6%
Gross profit
1,303
1,172
996
+11.2%
Gross margin
53.2%
54.6%
53.3%
Research and development
106
84.8
58.6
+25.3%
Selling, general and administrative
797
700
563
+13.9%
Operating income
322
372
319
-13.6%
Operating margin
13.1%
17.3%
17.1%
Interest expense
103
82.5
54.9
+24.8%
Pre-tax income
220
285
246
-22.9%
Income tax
23.2
130
8.1
-82.1%
Effective tax rate
10.6%
45.5%
3.3%
Net income
201
153
237
+31.6%
Net margin
8.2%
7.1%
12.7%
Diluted EPS
$4.29
$3.27
$4.98
+31.2%
$ 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
437
420
408
+4.2%
Capital expenditure
80.8
70.9
53.1
+14.0%
Free cash flow
357
349
355
+2.2%
Free cash flow margin
14.6%
16.3%
19.0%
Cash from investing
-196
n/a
n/a
Cash from financing
-206
n/a
n/a
Depreciation and amortisation
215
160
128
+33.9%
Share-based compensation
22.4
19.4
16.9
+15.6%
Dividends paid
62.2
61.2
59.0
+1.5%
Dividend per share
$1.36
$1.36
$1.36
0.0%
Diluted shares, weighted
47m
47m
48m
+0.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,540
2,431
2,138
+4.5%
Non-controlling interest
n/a
n/a
0.0
Redeemable equity
n/a
0.0
1.8
Debt
2,159
2,250
1,033
-4.0%
Other liabilities
1,579
1,501
719
+5.2%
Total liabilities and equity
6,278
6,181
3,891
+1.6%
Fixed assets
433
383
303
+13.0%
Goodwill
2,247
2,236
1,277
+0.5%
Intangible assets
2,325
2,384
1,092
-2.5%
Cash and equivalents
357
334
544
+7.1%
Receivables
366
346
272
+5.9%
Inventory
428
396
316
+8.1%
Other assets
122
104
88.0
+17.7%
Total assets
6,278
6,181
3,891
+1.6%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.