Ziff Davis (ZD) FY2018 results: revenue $1.2 billion, up 8.0% on the year
Ziff Davis, Inc. (ZD) reported revenue of $1.2 billion for fiscal 2018, the year ended 31 December 2018, up 8.0% on the year before. Net income was $129 million, down 7.7%, and diluted earnings per share $2.59. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$1.2 billion
+8.0% on the year
FY2011FY2018
Operating margin
20.2%
22.0% a year earlier
FY2011FY2018
Net income
$129 million
-7.7% on the year
FY2011FY2018
Diluted EPS
$2.59
-8.5% 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
1,207
1,118
874
+8.0%
Cost of revenue
201
172
147
+16.7%
Gross profit
1,006
946
727
+6.4%
Gross margin
83.3%
84.6%
83.2%
Research and development
48.4
46.0
38.0
+5.1%
Operating income
244
246
243
-0.6%
Operating margin
20.2%
22.0%
27.7%
Interest expense
63.5
59.2
42.7
+7.3%
Pre-tax income
178
200
211
-11.2%
Income tax
44.8
60.5
59.0
-26.1%
Effective tax rate
25.2%
30.3%
27.9%
Net income
129
139
152
-7.7%
Net margin
10.7%
12.5%
17.4%
Diluted EPS
$2.59
$2.83
$3.13
-8.5%
$ 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
401
264
282
+51.8%
Capital expenditure
56.4
39.6
24.7
+42.4%
Free cash flow
345
225
258
+53.4%
Free cash flow margin
28.6%
20.1%
29.5%
Cash from investing
-407
-158
-449
Cash from financing
-131
112
41.1
Depreciation and amortisation
187
162
122
+15.5%
Share-based compensation
28.1
22.7
13.7
+23.6%
Buybacks
47.1
9.8
56.5
+378.2%
Dividends paid
82.6
73.5
65.8
+12.4%
Dividend per share
$1.68
$1.52
$1.36
+10.5%
Diluted shares, weighted
49m
49m
48m
+0.5%
Shares outstanding at period end
47m
48m
47m
-0.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,036
1,020
915
+1.5%
Debt
1,013
1,002
781
+1.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
512
431
367
+18.8%
Total liabilities and equity
2,561
2,453
2,062
+4.4%
Fixed assets
98.8
79.8
68.1
+23.9%
Goodwill
1,380
1,197
1,123
+15.4%
Intangible assets
495
453
479
+9.2%
Investments
83.8
57.7
0.1
+45.2%
Cash and equivalents
209
351
124
-40.3%
Receivables
222
234
200
-5.4%
Other assets
71.9
80.9
68.7
-11.1%
Total assets
2,561
2,453
2,062
+4.4%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.