Zebra Technologies (ZBRA) FY2018 results: revenue $4.2 billion, up 13.3% on the year
Zebra Technologies Corp. (ZBRA) reported revenue of $4.2 billion for fiscal 2018, the year ended 31 December 2018, up 13.3% on the year before. Net income was $421 million, up 2376.5%, and diluted earnings per share $7.76. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2019.
Revenue
$4.2 billion
+13.3% on the year
FY2011FY2018
Operating margin
14.5%
8.7% a year earlier
FY2011FY2018
Net income
$421 million
+2,376.5% on the year
FY2011FY2018
Diluted EPS
$7.76
+2,325.0% 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
4,218
3,722
3,574
+13.3%
Cost of revenue
2,237
2,012
1,932
+11.2%
Gross profit
1,981
1,710
1,642
+15.8%
Gross margin
47.0%
45.9%
45.9%
Research and development
444
389
376
+14.1%
Operating income
610
322
80.0
+89.4%
Operating margin
14.5%
8.7%
2.2%
Interest expense
91.0
227
193
-59.9%
Pre-tax income
524
88.0
-129
+495.5%
Income tax
103
71.0
8.0
+45.1%
Effective tax rate
19.7%
80.7%
n/a
Net income
421
17.0
-137
+2,376.5%
Net margin
10.0%
0.5%
-3.8%
Diluted EPS
$7.76
$0.32
-$2.65
+2,325.0%
$ 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
785
478
380
+64.2%
Capital expenditure
64.0
50.0
77.0
+28.0%
Free cash flow
721
428
303
+68.5%
Free cash flow margin
17.1%
11.5%
8.5%
Cash from investing
-137
-51.0
-39.0
Cash from financing
-661
-517
-384
Depreciation and amortisation
175
263
304
-33.5%
Share-based compensation
45.0
35.0
27.0
+28.6%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
54m
54m
52m
+1.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,335
834
792
+60.1%
Debt
1,591
2,227
2,648
-28.6%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,413
1,214
1,192
+16.4%
Total liabilities and equity
4,339
4,275
4,632
+1.5%
Fixed assets
249
264
292
-5.7%
Goodwill
2,495
2,465
2,458
+1.2%
Intangible assets
232
299
480
-22.4%
Securities held for sale or to maturity
n/a
n/a
0.0
Cash and equivalents
44.0
62.0
156
-29.0%
Receivables
520
479
625
+8.6%
Inventory
520
458
345
+13.5%
Other assets
279
248
276
+12.5%
Total assets
4,339
4,275
4,632
+1.5%
10-K for the year ended 31 December 2018, filed 14 February 2019: the filing.