Textron (TXT) FY2018 results: revenue $14.0 billion, down 1.6% on the year
Textron Inc. (TXT) reported revenue of $14.0 billion for fiscal 2018, the year ended 29 December 2018, down 1.6% on the year before. Net income was $1.2 billion, up 298.0%, and diluted earnings per share $4.83. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$14.0 billion
-1.6% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$1.2 billion
+298.0% on the year
FY2011FY2018
Diluted EPS
$4.83
+323.7% 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
13,972
14,198
13,788
-1.6%
Cost of revenue
11,594
11,827
11,337
-2.0%
Gross profit
2,378
2,371
2,451
+0.3%
Gross margin
17.0%
16.7%
17.8%
Research and development
643
634
677
+1.4%
Selling, general and administrative
1,275
1,334
1,317
-4.4%
Interest expense
166
174
174
-4.6%
Pre-tax income
1,384
762
876
+81.6%
Income tax
162
456
33.0
-64.5%
Effective tax rate
11.7%
59.8%
3.8%
Net income
1,222
307
962
+298.0%
Net margin
8.7%
2.2%
7.0%
Diluted EPS
$4.83
$1.14
$3.53
+323.7%
$ 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
1,107
936
925
+18.3%
Capital expenditure
369
423
446
-12.8%
Free cash flow
738
513
479
+43.9%
Free cash flow margin
5.3%
3.6%
3.5%
Cash from investing
620
-645
-436
Cash from financing
-1,864
-360
-168
Depreciation and amortisation
437
447
449
-2.2%
Share-based compensation
35.0
77.0
71.0
-54.5%
Buybacks
1,783
582
241
+206.4%
Dividends paid
20.0
21.0
22.0
-4.8%
Dividend per share
$0.08
$0.08
$0.08
0.0%
Diluted shares, weighted
253m
269m
272m
-5.8%
Shares outstanding at period end
236m
261m
270m
-9.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,192
5,647
5,574
-8.1%
Other liabilities
9,072
9,693
9,784
-6.4%
Total liabilities and equity
14,264
15,340
15,358
-7.0%
Fixed assets
2,615
2,721
2,581
-3.9%
Intangible assets
658
765
767
-14.0%
Cash and equivalents
1,107
1,262
1,298
-12.3%
Inventory
3,818
4,150
4,464
-8.0%
Other assets
6,066
6,442
6,248
-5.8%
Total assets
14,264
15,340
15,358
-7.0%
10-K for the year ended 29 December 2018, filed 14 February 2019: the filing.