Dentsply Sirona (XRAY) FY2018 results: revenue $4.0 billion, down 0.2% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $4.0 billion for fiscal 2018, the year ended 31 December 2018, down 0.2% on the year before. Net income was -$1.0 billion, and diluted earnings per share $-4.51. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$4.0 billion
-0.2% on the year
FY2011FY2018
Operating margin
-24.0%
-39.1% a year earlier
FY2011FY2018
Net income
-$1.0 billion
FY2011FY2018
Diluted EPS
-$4.51
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
3,986
3,993
3,745
-0.2%
Cost of revenue
1,918
1,805
1,744
+6.3%
Gross profit
2,068
2,188
2,001
-5.5%
Gross margin
51.9%
54.8%
53.4%
Research and development
161
152
128
+6.1%
Selling, general and administrative
1,719
1,675
1,523
+2.7%
Operating income
-958
-1,562
455
Operating margin
-24.0%
-39.1%
12.1%
Interest expense
37.0
38.3
35.9
-3.4%
Pre-tax income
-958
-1,604
441
Income tax
53.0
-53.2
9.5
Effective tax rate
n/a
n/a
2.2%
Net income
-1,011
-1,550
430
Net margin
-25.4%
-38.8%
11.5%
Diluted EPS
-$4.51
-$6.76
$1.94
$ 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
500
602
563
-17.0%
Capital expenditure
183
144
125
+26.8%
Free cash flow
317
458
438
-30.8%
Free cash flow margin
7.9%
11.5%
11.7%
Cash from investing
-253
-286
60.0
Cash from financing
-250
-401
-526
Depreciation and amortisation
331
316
272
+4.6%
Share-based compensation
21.0
48.0
41.3
-56.2%
Buybacks
250
401
814
-37.7%
Dividends paid
79.0
78.3
64.6
+0.9%
Dividend per share
$0.35
$0.35
$0.31
0.0%
Diluted shares, weighted
224m
229m
222m
-2.2%
Shares outstanding at period end
223m
227m
230m
-1.7%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,121
6,616
8,114
-22.6%
Non-controlling interest
11.9
11.6
11.6
+2.6%
Debt
1,657
1,642
1,528
+1.0%
Other liabilities
1,897
2,105
1,902
-9.9%
Total liabilities and equity
8,687
10,374
11,556
-16.3%
Fixed assets
871
876
800
-0.6%
Goodwill
3,431
4,539
5,952
-24.4%
Intangible assets
2,420
2,801
2,958
-13.6%
Cash and equivalents
310
321
384
-3.4%
Inventory
599
623
517
-3.9%
Other assets
1,056
1,215
945
-13.1%
Total assets
8,687
10,374
11,556
-16.3%
10-K for the year ended 31 December 2018, filed 2 March 2020: the filing.