US Foods Holding (USFD) FY2018 results: revenue $24.2 billion, up 0.1% on the year
US Foods Holding Corp. (USFD) reported revenue of $24.2 billion for fiscal 2018, the year ended 29 December 2018, up 0.1% on the year before. Net income was $407 million, down 8.4%, and diluted earnings per share $1.87. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$24.2 billion
+0.1% on the year
FY2014FY2018
Operating margin
2.7%
2.4% a year earlier
FY2014FY2018
Net income
$407 million
-8.4% on the year
FY2014FY2018
Diluted EPS
$1.87
-5.1% on the year
FY2014FY2018
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
24,175
24,147
22,919
+0.1%
Cost of revenue
19,869
19,929
18,866
-0.3%
Gross profit
4,306
4,218
4,053
+2.1%
Gross margin
17.8%
17.5%
17.7%
Selling, general and administrative
3,647
3,631
3,586
+0.4%
Operating income
658
588
419
+11.9%
Operating margin
2.7%
2.4%
1.8%
Interest expense
175
170
229
+2.9%
Pre-tax income
496
404
131
+22.7%
Income tax
89.0
-40.1
-79.0
Effective tax rate
17.9%
-9.9%
-60.3%
Net income
407
444
210
-8.4%
Net margin
1.7%
1.8%
0.9%
Diluted EPS
$1.87
$1.97
$1.03
-5.1%
$ 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
609
749
549
-18.7%
Capital expenditure
235
221
164
+6.2%
Free cash flow
374
528
385
-29.1%
Free cash flow margin
1.5%
2.2%
1.7%
Cash from investing
-232
-356
-762
Cash from financing
-391
-405
-180
Depreciation and amortisation
340
378
421
-10.1%
Share-based compensation
28.0
21.0
18.0
+33.3%
Buybacks
0.0
280
0.0
Diluted shares, weighted
218m
226m
204m
-3.5%
Shares outstanding at period end
217m
215m
221m
+0.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,229
2,751
2,538
+17.4%
Debt
3,457
3,800
3,800
-9.0%
Operating lease liabilities
21.0
n/a
n/a
Other liabilities
2,479
2,486
2,607
-0.3%
Total liabilities and equity
9,186
9,037
8,944
+1.6%
Fixed assets
1,842
1,801
1,768
+2.3%
Goodwill
3,967
3,967
3,908
+0.0%
Intangible assets
324
364
387
-10.9%
Cash and equivalents
104
119
131
-12.5%
Receivables
1,347
1,302
1,226
+3.5%
Inventory
1,279
1,208
1,223
+5.9%
Other assets
323
277
301
+16.4%
Total assets
9,186
9,037
8,944
+1.6%
10-K for the year ended 29 December 2018, filed 14 February 2019: the filing.