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Agilent Technologies (A) FY2024 results: revenue $6.5 billion, down 4.7% on the year

Agilent Technologies, Inc. (A) reported revenue of $6.5 billion for fiscal 2024, the year ended 31 October 2024, down 4.7% on the year before. Net income was $1.3 billion, up 4.0%, and diluted earnings per share $4.43. The figures are the company's own, from the 10-K it filed with the SEC on 20 December 2024.

Revenue
$6.5 billion
-4.7% on the year
FY2017FY2024
Operating margin
22.9%
19.8% a year earlier
FY2017FY2024
Net income
$1.3 billion
+4.0% on the year
FY2017FY2024
Diluted EPS
$4.43
+5.7% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue6,5106,8336,848-4.7%
Cost of revenue2,9753,3683,126-11.7%
Gross profit3,5353,4653,722+2.0%
Gross margin54.3%50.7%54.4%
Research and development479481467-0.4%
Selling, general and administrative1,5681,6341,637-4.0%
Operating income1,4881,3501,618+10.2%
Operating margin22.9%19.8%23.6%
Interest expense96.095.084.0+1.1%
Pre-tax income1,5211,3391,504+13.6%
Income tax23299.0250+134.3%
Effective tax rate15.3%7.4%16.6%
Net income1,2891,2401,254+4.0%
Net margin19.8%18.1%18.3%
Diluted EPS$4.43$4.19$4.18+5.7%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow1,7511,7721,312-1.2%
Capital expenditure378298291+26.8%
Free cash flow1,3731,4741,021-6.9%
Free cash flow margin21.1%21.6%14.9%
Cash from investing-1,258-310-338
Cash from financing-752-930-1,372
Depreciation and amortisation257271317-5.2%
Share-based compensation129111125+16.2%
Buybacks1,1505751,139+100.0%
Dividends paid274265250+3.4%
Dividend per share$0.94$0.90$0.84+4.9%
Diluted shares, weighted291m296m300m-1.7%
Shares outstanding at period end285m292m295m-2.4%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity5,8985,8455,305+0.9%
Short-term borrowingsn/a0.0n/a
Debt3,3902,7352,769+23.9%
Operating lease liabilities142118101+20.3%
Other liabilities2,4162,0652,357+17.0%
Total liabilities and equity11,84610,76310,532+10.1%
Fixed assets1,7781,2701,100+40.0%
Goodwill4,4773,9603,952+13.1%
Intangible assets547475821+15.2%
Investments175164195+6.7%
Trading assets43.036.031.0+19.4%
Cash and equivalents1,3291,5901,053-16.4%
Receivables1,3241,2911,405+2.6%
Inventory9721,0311,038-5.7%
Other assets1,201946937+27.0%
Total assets11,84610,76310,532+10.1%

10-K for the year ended 31 October 2024, filed 20 December 2024: the filing.