AXS FY 2018 Earnings Report — AXIS Capital Holdings Limited Revenue & Financial Results | Market Cap Arena

AXIS Capital Holdings LimitedAXS

FY 2018 Earnings

Reported February 26, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$5.1B	—	$4.4B	—	15.3%
Op. Income	$13M	—	-$368M	—	103.4%
Gross Margin	18.8%	—	7.4%	—	11.3pp
Net Margin	0.8%	—	-8.3%	—	9.1pp
EPS (Diluted)	$0.51	—	$-4.39	—	111.6%
Free Cash Flow	-$14M	—	$285M	—	-105.0%

Revenue Flow

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$4.2B
GROSS PROFIT	$960M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$627M
SG&A Expenses	$627M
Other Expenses	$321M
Operating Expenses	$948M
Cost & Expenses	$5.1B
OPERATING INCOME	$13M
Interest Income	$0
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$13M
Income Tax Expense	-$29M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$396.0K
D&A	$10M
EBIT	$80M
EBITDA	$90M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$5.1B
Cost of Revenue	$4.2B
GROSS PROFIT	$960M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$627M
SG&A Expenses	$627M
Other Expenses	$321M
Operating Expenses	$948M
Cost & Expenses	$5.1B
OPERATING INCOME	$13M
Interest Income	$0
Interest Expense	$67M
Other Income/Expenses	$0
INCOME BEFORE TAX	$13M
Income Tax Expense	-$29M
Net Income from Continuing Ops	$43M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$43M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$396.0K
D&A	$10M
EBIT	$80M
EBITDA	$90M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$43M
Depreciation & Amortization	$10M
Stock-Based Compensation	$34M
Deferred Income Tax	$124M
Other Non-Cash Items	$172M
Change in Working Capital	-$373M
OPERATING CASH FLOW	$11M
Capital Expenditure	-$25M
Acquisitions (Net)	$0
Purchases of Investments	-$9.0B
Sales/Maturities of Investments	$9.7B
Other Investing Activities	$2M
NET CASH FROM INVESTING	$639M
Net Debt Issuance	$0
Common Stock Repurchased	-$10M
Common Dividends Paid	-$134M
Other Financing Activities	-$10M
NET CASH FROM FINANCING	-$186M
FREE CASH FLOW	-$14M
Net Change in Cash	$466M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$11.6B
Net Receivables	$6.9B
Inventory	$0
Other Current Assets	-$20.7B
TOTAL CURRENT ASSETS	$17.4B
PP&E (Net)	$0
Goodwill	$102M
Intangible Assets	$242M
Long-Term Investments	$12.1B
Tax Assets	$0
Other Non-Current Assets	-$5.7B
TOTAL NON-CURRENT ASSETS	$6.7B
TOTAL ASSETS	$24.1B
Account Payables	$1.3B
Short-Term Debt	$0
Deferred Revenue	-$1.3B
Other Current Liabilities	-$1.5B
TOTAL CURRENT LIABILITIES	$18.0B
Long-Term Debt	$1.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$17.8B
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$19.1B
Common Stock	$2M
Additional Paid-In Capital	$2.3B
Retained Earnings	$5.9B
Treasury Stock	-$3.8B
Accum. Other Comp. Income	-$177M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.0B
Minority Interest	$0
TOTAL EQUITY	$5.0B
TOTAL LIABILITIES & EQUITY	$24.1B
Total Debt	$1.3B
Net Debt	-$488M