Best Buy (BBY) FY2018 results: revenue $42.2 billion, up 7.0% on the year
Best Buy Co., Inc. (BBY) reported revenue of $42.2 billion for fiscal 2018, the year ended 3 February 2018, up 7.0% on the year before. Net income was $1.0 billion, down 18.6%, and diluted earnings per share $3.26. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2019.
Revenue
$42.2 billion
+7.0% on the year
FY2014FY2018
Operating margin
4.4%
4.7% a year earlier
FY2014FY2018
Net income
$1.0 billion
-18.6% on the year
FY2014FY2018
Diluted EPS
$3.26
-14.4% on the year
FY2014FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
42,151
39,403
39,528
+7.0%
Cost of revenue
32,275
29,963
30,334
+7.7%
Gross profit
9,876
9,440
9,191
+4.6%
Gross margin
23.4%
24.0%
23.3%
Selling, general and administrative
8,023
7,547
7,618
+6.3%
Operating income
1,843
1,854
1,375
-0.6%
Operating margin
4.4%
4.7%
3.5%
Interest expense
75.0
72.0
80.0
+4.2%
Pre-tax income
1,817
1,816
1,310
+0.1%
Income tax
818
609
503
+34.3%
Effective tax rate
45.0%
33.5%
38.4%
Net income
1,000
1,228
897
-18.6%
Net margin
2.4%
3.1%
2.3%
Diluted EPS
$3.26
$3.81
$2.56
-14.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,141
2,557
1,343
-16.3%
Capital expenditure
688
580
649
+18.6%
Free cash flow
1,453
1,977
694
-26.5%
Free cash flow margin
3.4%
5.0%
1.8%
Cash from investing
-1,002
-877
-526
Cash from financing
-2,297
-1,418
-1,536
Depreciation and amortisation
683
654
657
+4.4%
Share-based compensation
129
108
104
+19.4%
Buybacks
2,004
698
1,000
+187.1%
Dividends paid
409
505
499
-19.0%
Dividend per share
$1.36
$1.57
$1.43
-13.4%
Diluted shares, weighted
307m
323m
351m
-4.8%
Shares outstanding at period end
283m
311m
324m
-9.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,612
4,709
4,378
-23.3%
Non-controlling interest
n/a
n/a
0.0
Debt
1,355
1,365
1,734
-0.7%
Other liabilities
8,082
7,782
7,407
+3.9%
Total liabilities and equity
13,049
13,856
13,519
-5.8%
Fixed assets
2,421
2,293
2,346
+5.6%
Goodwill
425
425
425
0.0%
Intangible assets
18.0
n/a
18.0
Investments
2,032
1,681
1,305
+20.9%
Cash and equivalents
1,101
2,240
1,976
-50.8%
Receivables
1,049
1,347
1,162
-22.1%
Inventory
5,209
4,864
5,051
+7.1%
Other assets
794
1,006
1,236
-21.1%
Total assets
13,049
13,856
13,519
-5.8%
10-K for the year ended 3 February 2018, filed 28 March 2019: the filing.