Timken (TKR) FY2018 results: revenue $3.6 billion, up 19.2% on the year
Timken Co. (TKR) reported revenue of $3.6 billion for fiscal 2018, the year ended 31 December 2018, up 19.2% on the year before. Net income was $303 million, up 48.9%, and diluted earnings per share $3.86. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$3.6 billion
+19.2% on the year
FY2011FY2018
Operating margin
12.7%
10.0% a year earlier
FY2011FY2018
Net income
$303 million
+48.9% on the year
FY2011FY2018
Diluted EPS
$3.86
+49.6% 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
3,581
3,004
2,670
+19.2%
Cost of revenue
2,541
2,192
1,964
+15.9%
Gross profit
1,040
812
706
+28.1%
Gross margin
29.0%
27.0%
26.5%
Research and development
37.3
35.3
31.8
+5.7%
Selling, general and administrative
581
508
440
+14.2%
Operating income
454
300
244
+51.8%
Operating margin
12.7%
10.0%
9.2%
Interest expense
51.7
37.1
33.5
+39.4%
Pre-tax income
532
361
285
+47.4%
Income tax
103
57.6
60.5
+78.1%
Effective tax rate
19.3%
15.9%
21.2%
Net income
303
203
141
+48.9%
Net margin
8.5%
6.8%
5.3%
Diluted EPS
$3.86
$2.58
$1.78
+49.6%
$ 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
332
237
404
+40.4%
Capital expenditure
113
105
138
+7.5%
Free cash flow
220
132
266
+66.5%
Free cash flow margin
6.1%
4.4%
10.0%
Cash from investing
-865
-449
-211
Cash from financing
553
168
-169
+228.8%
Depreciation and amortisation
146
138
132
+6.0%
Share-based compensation
32.3
24.7
14.1
+30.8%
Buybacks
98.5
43.4
101
+127.0%
Dividends paid
85.7
83.3
81.6
+2.9%
Dividend per share
$1.11
$1.07
$1.04
+3.7%
Diluted shares, weighted
78m
79m
79m
-0.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,580
1,443
1,280
+9.5%
Non-controlling interest
63.1
32.2
31.2
+96.0%
Debt
1,682
962
659
+74.7%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,121
965
788
+16.1%
Total liabilities and equity
4,445
3,402
2,758
+30.6%
Fixed assets
912
864
804
+5.5%
Goodwill
960
512
358
+87.7%
Intangible assets
733
421
271
+74.3%
Investments
21.8
16.4
11.7
+32.9%
Cash and equivalents
132
122
149
+9.0%
Receivables
547
525
438
+4.1%
Inventory
836
739
554
+13.1%
Other assets
303
204
173
+48.4%
Total assets
4,445
3,402
2,758
+30.6%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.