Best Buy (BBY) FY2020 results: revenue $43.6 billion, up 1.8% on the year
Best Buy Co., Inc. (BBY) reported revenue of $43.6 billion for fiscal 2020, the year ended 1 February 2020, up 1.8% on the year before. Net income was $1.5 billion, up 5.3%, and diluted earnings per share $5.75. The figures are the company's own, from the 10-K it filed with the SEC on 23 March 2020.
Revenue
$43.6 billion
+1.8% on the year
FY2014FY2020
Operating margin
4.6%
4.4% a year earlier
FY2014FY2020
Net income
$1.5 billion
+5.3% on the year
FY2014FY2020
Diluted EPS
$5.75
+10.6% on the year
FY2014FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
43,638
42,879
42,151
+1.8%
Cost of revenue
33,590
32,918
32,275
+2.0%
Gross profit
10,048
9,961
9,876
+0.9%
Gross margin
23.0%
23.2%
23.4%
Selling, general and administrative
7,998
8,015
8,023
-0.2%
Operating income
2,009
1,900
1,843
+5.7%
Operating margin
4.6%
4.4%
4.4%
Interest expense
64.0
73.0
75.0
-12.3%
Pre-tax income
1,993
1,888
1,817
+5.6%
Income tax
452
424
818
+6.6%
Effective tax rate
22.7%
22.5%
45.0%
Net income
1,541
1,464
1,000
+5.3%
Net margin
3.5%
3.4%
2.4%
Diluted EPS
$5.75
$5.20
$3.26
+10.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,565
2,408
2,141
+6.5%
Capital expenditure
743
819
688
-9.3%
Free cash flow
1,822
1,589
1,453
+14.7%
Free cash flow margin
4.2%
3.7%
3.4%
Cash from investing
-895
508
-1,002
Cash from financing
-1,498
-2,018
-2,297
Depreciation and amortisation
812
770
683
+5.5%
Share-based compensation
143
123
129
+16.3%
Buybacks
1,003
1,505
2,004
-33.4%
Dividends paid
527
497
409
+6.0%
Dividend per share
$2.00
$1.80
$1.36
+11.1%
Diluted shares, weighted
268m
281m
307m
-4.7%
Shares outstanding at period end
256m
266m
283m
-3.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,479
3,306
3,612
+5.2%
Debt
1,271
1,388
1,355
-8.4%
Operating lease liabilities
2,138
n/a
n/a
Finance lease liabilities
24.0
n/a
n/a
Other liabilities
8,679
8,207
8,082
+5.8%
Total liabilities and equity
15,591
12,901
13,049
+20.9%
Fixed assets
2,328
2,510
2,421
-7.3%
Goodwill
984
915
425
+7.5%
Intangible assets
n/a
n/a
18.0
Investments
n/a
0.0
2,032
Cash and equivalents
2,229
1,980
1,101
+12.6%
Receivables
1,149
1,015
1,049
+13.2%
Inventory
5,174
5,409
5,209
-4.3%
Other assets
3,727
1,072
794
+247.7%
Total assets
15,591
12,901
13,049
+20.9%
10-K for the year ended 1 February 2020, filed 23 March 2020: the filing.