Best Buy (BBY) FY2021 results: revenue $47.3 billion, up 8.3% on the year
Best Buy Co., Inc. (BBY) reported revenue of $47.3 billion for fiscal 2021, the year ended 30 January 2021, up 8.3% on the year before. Net income was $1.8 billion, up 16.7%, and diluted earnings per share $6.84. The figures are the company's own, from the 10-K it filed with the SEC on 19 March 2021.
Revenue
$47.3 billion
+8.3% on the year
FY2014FY2021
Operating margin
5.1%
4.6% a year earlier
FY2014FY2021
Net income
$1.8 billion
+16.7% on the year
FY2014FY2021
Diluted EPS
$6.84
+19.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
47,262
43,638
42,879
+8.3%
Cost of revenue
36,689
33,590
32,918
+9.2%
Gross profit
10,573
10,048
9,961
+5.2%
Gross margin
22.4%
23.0%
23.2%
Selling, general and administrative
7,928
7,998
8,015
-0.9%
Operating income
2,391
2,009
1,900
+19.0%
Operating margin
5.1%
4.6%
4.4%
Interest expense
52.0
64.0
73.0
-18.8%
Pre-tax income
2,377
1,993
1,888
+19.3%
Income tax
579
452
424
+28.1%
Effective tax rate
24.4%
22.7%
22.5%
Net income
1,798
1,541
1,464
+16.7%
Net margin
3.8%
3.5%
3.4%
Diluted EPS
$6.84
$5.75
$5.20
+19.0%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,927
2,565
2,408
+92.1%
Capital expenditure
713
743
819
-4.0%
Free cash flow
4,214
1,822
1,589
+131.3%
Free cash flow margin
8.9%
4.2%
3.7%
Cash from investing
-788
-895
508
Cash from financing
-876
-1,498
-2,018
Depreciation and amortisation
839
812
770
+3.3%
Share-based compensation
135
143
123
-5.6%
Buybacks
312
1,003
1,505
-68.9%
Dividends paid
568
527
497
+7.8%
Dividend per share
$2.20
$2.00
$1.80
+10.0%
Diluted shares, weighted
263m
268m
281m
-1.9%
Shares outstanding at period end
257m
256m
266m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
4,587
3,479
3,306
+31.8%
Debt
1,377
1,271
1,388
+8.3%
Operating lease liabilities
2,012
2,138
n/a
-5.9%
Finance lease liabilities
24.0
24.0
n/a
0.0%
Other liabilities
11,067
8,679
8,207
+27.5%
Total liabilities and equity
19,067
15,591
12,901
+22.3%
Fixed assets
2,260
2,328
2,510
-2.9%
Goodwill
986
984
915
+0.2%
Investments
n/a
n/a
0.0
Cash and equivalents
5,494
2,229
1,980
+146.5%
Receivables
1,061
1,149
1,015
-7.7%
Inventory
5,612
5,174
5,409
+8.5%
Other assets
3,654
3,727
1,072
-2.0%
Total assets
19,067
15,591
12,901
+22.3%
10-K for the year ended 30 January 2021, filed 19 March 2021: the filing.