Western Union (WU) FY2018 results: revenue $5.6 billion, up 1.2% on the year
Western Union Co. (WU) reported revenue of $5.6 billion for fiscal 2018, the year ended 31 December 2018, up 1.2% on the year before. Net income was $852 million, and diluted earnings per share $1.87. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$5.6 billion
+1.2% on the year
FY2011FY2018
Operating margin
20.1%
8.6% a year earlier
FY2011FY2018
Net income
$852 million
FY2011FY2018
Diluted EPS
$1.87
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
5,590
5,524
5,423
+1.2%
Cost of revenue
3,301
3,353
3,267
-1.6%
Gross profit
2,289
2,171
2,156
+5.4%
Gross margin
41.0%
39.3%
39.8%
Selling, general and administrative
1,167
1,232
1,669
-5.2%
Operating income
1,122
476
487
+135.8%
Operating margin
20.1%
8.6%
9.0%
Interest expense
150
142
152
+5.3%
Pre-tax income
991
348
342
+185.3%
Income tax
140
905
88.5
-84.6%
Effective tax rate
14.1%
260.3%
25.9%
Net income
852
-557
253
Net margin
15.2%
-10.1%
4.7%
Diluted EPS
$1.87
-$1.19
$0.51
$ 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
821
742
1,042
+10.7%
Capital expenditure
137
69.1
68.8
+97.8%
Free cash flow
685
673
973
+1.7%
Free cash flow margin
12.2%
12.2%
17.9%
Cash from investing
-329
-205
-271
Cash from financing
-357
-570
-1,209
Depreciation and amortisation
265
263
263
+0.7%
Share-based compensation
47.7
43.9
41.8
+8.7%
Buybacks
412
503
502
-18.0%
Dividends paid
342
326
312
+4.9%
Dividend per share
$0.76
$0.70
$0.64
+8.6%
Diluted shares, weighted
454m
468m
494m
-2.9%
Shares outstanding at period end
441m
459m
482m
-3.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
-310
-491
902
Debt
3,434
3,034
2,786
+13.2%
Other liabilities
5,873
6,689
5,731
-12.2%
Total liabilities and equity
8,997
9,231
9,420
-2.5%
Fixed assets
270
214
220
+26.2%
Goodwill
2,725
2,728
3,162
-0.1%
Intangible assets
598
586
664
+2.0%
Securities held for sale or to maturity
1,211
1,350
n/a
-10.3%
Cash and equivalents
973
838
878
+16.1%
Other assets
3,219
3,515
4,495
-8.4%
Total assets
8,997
9,231
9,420
-2.5%
10-K for the year ended 31 December 2018, filed 21 February 2019: the filing.