Booz Allen Hamilton Holding (BAH) Q4 FY2024 earnings: revenue $2.8 billion, up 13.9% on the year

Booz Allen Hamilton Holding Corp. (BAH) reported revenue of $2.8 billion for Q4 FY2024, the quarter ended 31 March 2024, up 13.9% on the same quarter a year earlier. Net income was $128 million, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2024.

Revenue$2.8 billionup 13.9%

Net income$128 million

Diluted EPS$0.97

QuarterQ4 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	2,771	2,570	n/a	n/a
Cost of revenue	1,255	1,181	n/a	n/a
Gross profit	1,516	1,389	n/a	n/a
Gross margin	54.7%	54.0%	n/a
Operating income	264	248	n/a	n/a
Operating margin	9.5%	9.6%	n/a
Interest expense	46.1	46.6	n/a	n/a
Pre-tax income	219	207	n/a	n/a
Income tax	91.3	61.7	n/a	n/a
Effective tax rate	41.6%	29.8%	n/a
Net income	128	146	n/a	n/a
Net margin	4.6%	5.7%	n/a
Diluted EPS	$0.97	$1.11	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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 and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	144	234	n/a	n/a
Capital expenditure	16.2	23.1	n/a	n/a
Free cash flow	128	211	n/a	n/a
Free cash flow margin	4.6%	8.2%	n/a
Cash from investing	-22.4	-31.3	n/a	n/a
Cash from financing	-169	-158	n/a	n/a
Depreciation and amortisation	40.3	41.1	n/a	n/a
Share-based compensation	33.7	23.8	n/a	n/a
Buybacks	100	94.5	n/a	n/a
Dividends paid	66.6	61.7	n/a	n/a
Dividend per share	n/a	$0.47	n/a	n/a
Diluted shares, weighted	131m	130m	n/a	n/a
Shares outstanding at period end	130m	130m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Shareholders' equity	1,047	1,086	n/a	n/a
Debt	3,412	3,421	n/a	n/a
Operating lease liabilities	182	165	n/a	n/a
Other liabilities	1,923	1,802	n/a	n/a
Total liabilities and equity	6,564	6,475	n/a	n/a
Fixed assets	188	179	n/a	n/a
Goodwill	2,344	2,344	n/a	n/a
Intangible assets	601	619	n/a	n/a
Cash and equivalents	554	602	n/a	n/a
Receivables	2,047	1,968	n/a	n/a
Other assets	829	763	n/a	n/a
Total assets	6,564	6,475	n/a	n/a

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	2,666	2,570	2,771	2,942	3,146	2,917	2,975	2,924	2,890	2,620	2,783	2,800
Cost of revenue	1,233	1,181	1,255	1,371	1,362	1,306	1,380	1,423	1,340	1,259	1,283	1,336
Gross profit	1,434	1,389	1,516	1,571	1,784	1,612	1,595	1,501	1,550	1,361	1,500	1,464
Gross margin	54%	54%	55%	53%	57%	55%	54%	51%	54%	52%	54%	52%
Operating income	267	248	264	255	549	291	275	257	283	230	263	279
Operating margin	10%	10%	10%	9%	17%	10%	9%	9%	10%	9%	9%	10%
Interest expense	44.8	46.6	46.1	45.9	47.0	45.6	47.4	n/a	n/a	n/a	n/a	n/a
Pre-tax income	226	207	219	214	513	248	243	216	233	187	226	251
Tax rate	24%	30%	42%	23%	24%	25%	21%	-25%	25%	-7%	9%	21%
Net income	171	146	128	165	390	187	193	271	175	200	205	198
Net margin	6%	6%	5%	6%	12%	6%	6%	9%	6%	8%	7%	7%
Diluted EPS	$1.29	$1.11	$0.97	$1.27	$3.01	$1.45	$1.52	$2.16	$1.42	$1.63	$1.69	$1.63
Operating cash flow	-47.4	234	144	52.0	587	151	219	119	421	261	240	281
Capital expenditure	16.9	23.1	16.2	32.0	23.8	17.2	24.6	23.0	26.0	13.0	28.0	20.0
Free cash flow	-64.3	211	128	20.0	563	134	194	96.0	395	248	212	261
Buybacks	80.8	94.5	100	116	232	149	315	181	214	126	77.0	72.0
Dividends paid	62.1	61.7	66.6	66.0	66.5	65.5	69.6	70.0	68.0	67.0	71.0	73.0
Shares outstanding	131m	130m	130m	129m	128m	127m	125m	124m	122m	121m	120m	120m
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 March 2024, filed 24 May 2024, accession 0001443646-24-000075: the filing on EDGAR. All of Booz Allen Hamilton Holding Corp.'s filings: EDGAR company page.

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