Wynn Resorts (WYNN) FY2018 results: revenue $6.7 billion, up 10.7% on the year
Wynn Resorts Ltd. (WYNN) reported revenue of $6.7 billion for fiscal 2018, the year ended 31 December 2018, up 10.7% on the year before. Net income was $572 million, down 23.4%, and diluted earnings per share $5.35. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$6.7 billion
+10.7% on the year
FY2011FY2018
Operating margin
10.9%
17.4% a year earlier
FY2011FY2018
Net income
$572 million
-23.4% on the year
FY2011FY2018
Diluted EPS
$5.35
-26.5% 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
6,718
6,070
4,346
+10.7%
Selling, general and administrative
761
685
548
+11.1%
Operating income
736
1,056
522
-30.3%
Operating margin
10.9%
17.4%
12.0%
Interest expense
382
389
289
-1.8%
Pre-tax income
306
560
311
-45.4%
Income tax
-497
-329
8.1
Effective tax rate
-162.7%
-58.7%
2.6%
Net income
572
747
242
-23.4%
Net margin
8.5%
12.3%
5.6%
Diluted EPS
$5.35
$7.28
$2.38
-26.5%
$ 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
961
1,877
971
-48.8%
Capital expenditure
1,476
935
1,226
+57.8%
Free cash flow
-514
941
-255
Free cash flow margin
-7.7%
15.5%
-5.9%
Cash from investing
-1,223
-958
-1,288
Cash from financing
-324
-754
883
Depreciation and amortisation
551
552
405
-0.3%
Share-based compensation
36.5
44.0
43.2
-17.0%
Buybacks
160
17.8
14.0
+797.8%
Dividends paid
570
321
325
+77.6%
Dividend per share
$2.75
$2.00
n/a
+37.5%
Diluted shares, weighted
107m
103m
102m
+4.3%
Shares outstanding at period end
107m
103m
102m
+4.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,034
948
158
+114.6%
Non-controlling interest
-219
131
99.9
Debt
9,423
9,629
10,125
-2.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,978
1,975
1,570
+0.2%
Total liabilities and equity
13,216
12,682
11,954
+4.2%
Fixed assets
9,386
8,499
8,260
+10.4%
Goodwill
0.0
n/a
n/a
Intangible assets
223
124
114
+79.9%
Investments
0.0
327
301
Cash and equivalents
2,215
2,804
2,453
-21.0%
Receivables
277
224
219
+23.4%
Inventory
66.6
71.6
91.5
-7.0%
Other assets
1,050
632
515
+66.2%
Total assets
13,216
12,682
11,954
+4.2%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.