Best Buy (BBY) FY2019 results: revenue $42.9 billion, up 1.7% on the year
Best Buy Co., Inc. (BBY) reported revenue of $42.9 billion for fiscal 2019, the year ended 2 February 2019, up 1.7% on the year before. Net income was $1.5 billion, up 46.4%, and diluted earnings per share $5.20. The figures are the company's own, from the 10-K it filed with the SEC on 28 March 2019.
Revenue
$42.9 billion
+1.7% on the year
FY2014FY2019
Operating margin
4.4%
4.4% a year earlier
FY2014FY2019
Net income
$1.5 billion
+46.4% on the year
FY2014FY2019
Diluted EPS
$5.20
+59.5% on the year
FY2014FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
42,879
42,151
39,403
+1.7%
Cost of revenue
32,918
32,275
29,963
+2.0%
Gross profit
9,961
9,876
9,440
+0.9%
Gross margin
23.2%
23.4%
24.0%
Selling, general and administrative
8,015
8,023
7,547
-0.1%
Operating income
1,900
1,843
1,854
+3.1%
Operating margin
4.4%
4.4%
4.7%
Interest expense
73.0
75.0
72.0
-2.7%
Pre-tax income
1,888
1,817
1,816
+3.9%
Income tax
424
818
609
-48.2%
Effective tax rate
22.5%
45.0%
33.5%
Net income
1,464
1,000
1,228
+46.4%
Net margin
3.4%
2.4%
3.1%
Diluted EPS
$5.20
$3.26
$3.81
+59.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,408
2,141
2,557
+12.5%
Capital expenditure
819
688
580
+19.0%
Free cash flow
1,589
1,453
1,977
+9.4%
Free cash flow margin
3.7%
3.4%
5.0%
Cash from investing
508
-1,002
-877
Cash from financing
-2,018
-2,297
-1,418
Depreciation and amortisation
770
683
654
+12.7%
Share-based compensation
123
129
108
-4.7%
Buybacks
1,505
2,004
698
-24.9%
Dividends paid
497
409
505
+21.5%
Dividend per share
$1.80
$1.36
$1.57
+32.4%
Diluted shares, weighted
281m
307m
323m
-8.4%
Shares outstanding at period end
266m
283m
311m
-6.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,306
3,612
4,709
-8.5%
Debt
1,388
1,355
1,365
+2.4%
Other liabilities
8,207
8,082
7,782
+1.5%
Total liabilities and equity
12,901
13,049
13,856
-1.1%
Fixed assets
2,510
2,421
2,293
+3.7%
Goodwill
915
425
425
+115.3%
Intangible assets
n/a
18.0
n/a
Investments
0.0
2,032
1,681
Cash and equivalents
1,980
1,101
2,240
+79.8%
Receivables
1,015
1,049
1,347
-3.2%
Inventory
5,409
5,209
4,864
+3.8%
Other assets
1,072
794
1,006
+35.0%
Total assets
12,901
13,049
13,856
-1.1%
10-K for the year ended 2 February 2019, filed 28 March 2019: the filing.