Best Buy (BBY) FY2017 results: revenue $39.4 billion, down 0.3% on the year
Best Buy Co., Inc. (BBY) reported revenue of $39.4 billion for fiscal 2017, the year ended 28 January 2017, down 0.3% on the year before. Net income was $1.2 billion, up 36.9%, and diluted earnings per share $3.81. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2019.
Revenue
$39.4 billion
-0.3% on the year
FY2014FY2017
Operating margin
4.7%
3.5% a year earlier
FY2014FY2017
Net income
$1.2 billion
+36.9% on the year
FY2014FY2017
Diluted EPS
$3.81
+48.8% on the year
FY2014FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
39,403
39,528
40,339
-0.3%
Cost of revenue
29,963
30,334
31,292
-1.2%
Gross profit
9,440
9,191
9,047
+2.7%
Gross margin
24.0%
23.3%
22.4%
Selling, general and administrative
7,547
7,618
7,592
-0.9%
Operating income
1,854
1,375
1,450
+34.8%
Operating margin
4.7%
3.5%
3.6%
Interest expense
72.0
80.0
90.0
-10.0%
Pre-tax income
1,816
1,310
1,387
+38.6%
Income tax
609
503
141
+21.1%
Effective tax rate
33.5%
38.4%
10.2%
Net income
1,228
897
1,233
+36.9%
Net margin
3.1%
2.3%
3.1%
Diluted EPS
$3.81
$2.56
$3.49
+48.8%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,557
1,343
1,935
+90.4%
Capital expenditure
580
649
561
-10.6%
Free cash flow
1,977
694
1,374
+184.9%
Free cash flow margin
5.0%
1.8%
3.4%
Cash from investing
-877
-526
-1,712
Cash from financing
-1,418
-1,536
-223
Depreciation and amortisation
654
657
656
-0.5%
Share-based compensation
108
104
87.0
+3.8%
Buybacks
698
1,000
0.0
-30.2%
Dividends paid
505
499
251
+1.2%
Dividend per share
$1.57
$1.43
$0.72
+9.8%
Diluted shares, weighted
323m
351m
354m
-8.0%
Shares outstanding at period end
311m
324m
351m
-4.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
4,709
4,378
4,995
+7.6%
Non-controlling interest
n/a
0.0
5.0
Debt
1,365
1,734
1,613
-21.3%
Other liabilities
7,782
7,407
8,643
+5.1%
Total liabilities and equity
13,856
13,519
15,256
+2.5%
Fixed assets
2,293
2,346
2,295
-2.3%
Goodwill
425
425
425
0.0%
Intangible assets
n/a
18.0
57.0
Investments
1,681
1,305
1,456
+28.8%
Cash and equivalents
2,240
1,976
2,432
+13.4%
Receivables
1,347
1,162
1,280
+15.9%
Inventory
4,864
5,051
5,174
-3.7%
Other assets
1,006
1,236
2,137
-18.6%
Total assets
13,856
13,519
15,256
+2.5%
10-K for the year ended 28 January 2017, filed 28 March 2019: the filing.