SIRI FY 2018 Earnings Report — Sirius XM Holdings Inc. Revenue & Financial Results | Market Cap Arena

Sirius XM Holdings Inc.SIRI

FY 2018 Earnings

Reported January 30, 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	$5.8B	—	$5.4B	—	6.4%
Op. Income	$1.7B	—	$1.6B	—	5.2%
Gross Margin	51.8%	—	52.1%	—	-0.2pp
Net Margin	20.4%	—	11.9%	—	8.4pp
EPS (Diluted)	$2.60	—	$1.40	—	85.7%
Free Cash Flow	$1.5B	—	$1.6B	—	-2.7%

Revenue Flow

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$2.8B
GROSS PROFIT	$3.0B
R&D Expenses	$123M
Selling & Marketing	$484M
General & Administrative	$354M
SG&A Expenses	$838M
Other Expenses	$304M
Operating Expenses	$1.3B
Cost & Expenses	$4.0B
OPERATING INCOME	$1.7B
Interest Income	$8M
Interest Expense	$350M
Other Income/Expenses	-$306M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$245M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$301M
EBIT	$1.8B
EBITDA	$2.1B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$5.8B
Cost of Revenue	$2.8B
GROSS PROFIT	$3.0B
R&D Expenses	$123M
Selling & Marketing	$484M
General & Administrative	$354M
SG&A Expenses	$838M
Other Expenses	$304M
Operating Expenses	$1.3B
Cost & Expenses	$4.0B
OPERATING INCOME	$1.7B
Interest Income	$8M
Interest Expense	$350M
Other Income/Expenses	-$306M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$245M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$301M
EBIT	$1.8B
EBITDA	$2.1B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$301M
Stock-Based Compensation	$0
Deferred Income Tax	$257M
Other Non-Cash Items	$161M
Change in Working Capital	-$13M
OPERATING CASH FLOW	$1.9B
Capital Expenditure	-$356M
Acquisitions (Net)	-$2M
Purchases of Investments	-$24M
Sales/Maturities of Investments	$3M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$379M
Net Debt Issuance	$120M
Common Stock Repurchased	-$1.3B
Common Dividends Paid	-$201M
Other Financing Activities	-$120M
NET CASH FROM FINANCING	-$1.5B
FREE CASH FLOW	$1.5B
Net Change in Cash	-$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$54M
Short-Term Investments	$0
Net Receivables	$233M
Inventory	$22M
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$478M
PP&E (Net)	$1.5B
Goodwill	$2.3B
Intangible Assets	$2.5B
Long-Term Investments	$960M
Tax Assets	$293M
Other Non-Current Assets	$138M
TOTAL NON-CURRENT ASSETS	$7.7B
TOTAL ASSETS	$8.2B
Account Payables	$736M
Short-Term Debt	$3M
Deferred Revenue	$1.9B
Other Current Liabilities	$4M
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$6.9B
Deferred Revenue NC	$149M
Deferred Tax Liabilities	$47M
Other Non-Current Liabilities	$106M
TOTAL NON-CURRENT LIABILITIES	$7.2B
TOTAL LIABILITIES	$10.0B
Common Stock	$4M
Additional Paid-In Capital	$242M
Retained Earnings	-$2.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$1.8B
Minority Interest	$0
TOTAL EQUITY	-$1.8B
TOTAL LIABILITIES & EQUITY	$8.2B
Total Debt	$6.9B
Net Debt	$6.8B