Best Buy (BBY) FY2023 results: revenue $46.3 billion, down 10.6% on the year
Best Buy Co., Inc. (BBY) reported revenue of $46.3 billion for fiscal 2023, the year ended 28 January 2023, down 10.6% on the year before. Net income was $1.4 billion, down 42.2%, and diluted earnings per share $6.29. The figures are the company's own, from the 10-K it filed with the SEC on 17 March 2023.
Revenue
$46.3 billion
-10.6% on the year
FY2016FY2023
Operating margin
3.9%
5.9% a year earlier
FY2016FY2023
Net income
$1.4 billion
-42.2% on the year
FY2016FY2023
Diluted EPS
$6.29
-36.1% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,824
3,252
4,927
-43.9%
Capital expenditure
930
737
713
+26.2%
Free cash flow
894
2,515
4,214
-64.5%
Free cash flow margin
1.9%
4.9%
8.9%
Cash from investing
-962
-1,372
-788
Cash from financing
-1,806
-4,297
-876
Depreciation and amortisation
918
869
839
+5.6%
Share-based compensation
138
141
135
-2.1%
Buybacks
1,014
3,502
312
-71.0%
Dividends paid
789
688
568
+14.7%
Dividend per share
$3.52
$2.80
$2.20
+25.7%
Diluted shares, weighted
226m
249m
263m
-9.5%
Shares outstanding at period end
218m
227m
257m
-4.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,795
3,020
4,587
-7.5%
Debt
1,176
1,229
1,377
-4.3%
Operating lease liabilities
2,164
2,061
2,012
+5.0%
Finance lease liabilities
26.0
27.0
24.0
-3.7%
Other liabilities
9,642
11,167
11,067
-13.7%
Total liabilities and equity
15,803
17,504
19,067
-9.7%
Fixed assets
2,352
2,250
2,260
+4.5%
Goodwill
1,383
1,384
986
-0.1%
Cash and equivalents
1,874
2,936
5,494
-36.2%
Receivables
1,141
1,042
1,061
+9.5%
Inventory
5,140
5,965
5,612
-13.8%
Other assets
3,913
3,927
3,654
-0.4%
Total assets
15,803
17,504
19,067
-9.7%
10-K for the year ended 28 January 2023, filed 17 March 2023: the filing.