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C. H. Robinson Worldwide (CHRW) FY2021 results: revenue $23.1 billion, up 42.5% on the year

C. H. Robinson Worldwide, Inc. (CHRW) reported revenue of $23.1 billion for fiscal 2021, the year ended 31 December 2021, up 42.5% on the year before. Net income was $844 million, up 66.7%, and diluted earnings per share $6.31. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.

Revenue
$23.1 billion
+42.5% on the year
FY2014FY2021
Operating margin
4.7%
4.2% a year earlier
FY2014FY2021
Net income
$844 million
+66.7% on the year
FY2014FY2021
Diluted EPS
$6.31
+69.6% on the year
FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue23,10216,20715,310+42.5%
Operating income1,082673790+60.7%
Operating margin4.7%4.2%5.2%
Pre-tax income1,022628742+62.7%
Income tax178122165+46.0%
Effective tax rate17.4%19.4%22.3%
Net income844506577+66.7%
Net margin3.7%3.1%3.8%
Diluted EPS$6.31$3.72$4.19+69.6%
$ 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

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow95.0499835-81.0%
Capital expenditure34.223.136.3+47.8%
Free cash flow60.8476799-87.2%
Free cash flow margin0.3%2.9%5.2%
Cash from investing-85.7-272-113
Cash from financing7.6-441-651
Depreciation and amortisation91.3102100-10.3%
Share-based compensation13044.039.1+195.4%
Buybacks582178309+227.7%
Dividends paid277210278+32.1%
Dividend per share$2.08$2.04$2.01+2.0%
Diluted shares, weighted134m136m138m-1.7%
Shares outstanding at period end129m134m135m-3.8%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity2,0221,8801,671+7.6%
Debt1,9191,0931,235+75.5%
Operating lease liabilities241269259-10.1%
Other liabilities2,8461,9021,476+49.6%
Total liabilities and equity7,0285,1444,641+36.6%
Fixed assets140179208-21.9%
Goodwill1,4851,4871,292-0.2%
Intangible assets89.611490.9-21.3%
Cash and equivalents257244448+5.6%
Receivables3,9632,4501,974+61.8%
Other assets1,093671628+62.9%
Total assets7,0285,1444,641+36.6%

10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.