Best Buy (BBY) FY2024 results: revenue $43.5 billion, down 6.1% on the year
Best Buy Co., Inc. (BBY) reported revenue of $43.5 billion for fiscal 2024, the year ended 3 February 2024, down 6.1% on the year before. Net income was $1.2 billion, down 12.5%, and diluted earnings per share $5.68. The figures are the company's own, from the 10-K it filed with the SEC on 15 March 2024.
Revenue
$43.5 billion
-6.1% on the year
FY2017FY2024
Operating margin
3.6%
3.9% a year earlier
FY2017FY2024
Net income
$1.2 billion
-12.5% on the year
FY2017FY2024
Diluted EPS
$5.68
-9.7% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,470
1,824
3,252
-19.4%
Capital expenditure
795
930
737
-14.5%
Free cash flow
675
894
2,515
-24.5%
Free cash flow margin
1.6%
1.9%
4.9%
Cash from investing
-781
-962
-1,372
Cash from financing
-1,144
-1,806
-4,297
Depreciation and amortisation
923
918
869
+0.5%
Share-based compensation
145
138
141
+5.1%
Buybacks
340
1,014
3,502
-66.5%
Dividends paid
801
789
688
+1.5%
Dividend per share
$3.68
$3.52
$2.80
+4.5%
Diluted shares, weighted
218m
226m
249m
-3.2%
Shares outstanding at period end
215m
218m
227m
-1.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,053
2,795
3,020
+9.2%
Debt
1,165
1,176
1,229
-0.9%
Operating lease liabilities
2,199
2,164
2,061
+1.6%
Finance lease liabilities
21.0
26.0
27.0
-19.2%
Other liabilities
8,529
9,642
11,167
-11.5%
Total liabilities and equity
14,967
15,803
17,504
-5.3%
Fixed assets
2,260
2,352
2,250
-3.9%
Goodwill
1,383
1,383
1,384
0.0%
Cash and equivalents
1,447
1,874
2,936
-22.8%
Receivables
939
1,141
1,042
-17.7%
Inventory
4,958
5,140
5,965
-3.5%
Other assets
3,980
3,913
3,927
+1.7%
Total assets
14,967
15,803
17,504
-5.3%
10-K for the year ended 3 February 2024, filed 15 March 2024: the filing.