Salesforce (CRM) FY2017 results: revenue $8.4 billion, up 26.5% on the year
Salesforce, Inc. (CRM) reported revenue of $8.4 billion for fiscal 2017, the year ended 31 January 2017, up 26.5% on the year before. Net income was $323 million, and diluted earnings per share $0.46. The figures are the company's own, from the 10-K it filed with the SEC on 6 March 2017.
Revenue
$8.4 billion
+26.5% on the year
FY2010FY2017
Operating margin
2.6%
1.7% a year earlier
FY2010FY2017
Net income
$323 million
FY2010FY2017
Diluted EPS
$0.46
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
8,437
6,667
5,374
+26.5%
Cost of revenue
2,234
1,655
1,289
+35.0%
Gross profit
6,203
5,013
4,084
+23.7%
Gross margin
73.5%
75.2%
76.0%
Research and development
1,208
946
793
+27.7%
Operating income
218
115
-146
+89.7%
Operating margin
2.6%
1.7%
-2.7%
Interest expense
89.0
72.5
73.2
+22.8%
Pre-tax income
179
64.3
-213
+178.5%
Income tax
-144
112
49.6
Effective tax rate
-80.4%
173.8%
n/a
Net income
323
-47.4
-263
Net margin
3.8%
-0.7%
-4.9%
Diluted EPS
$0.46
-$0.07
-$0.42
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
2,162
1,672
1,181
+29.3%
Capital expenditure
464
284
290
+63.1%
Free cash flow
1,698
1,388
891
+22.4%
Free cash flow margin
20.1%
20.8%
16.6%
Cash from investing
-2,684
-1,488
-698
Cash from financing
998
73.2
-318
+1,263.9%
Depreciation and amortisation
632
526
448
+20.3%
Share-based compensation
820
594
565
+38.2%
Diluted shares, weighted
700m
662m
624m
+5.8%
Shares outstanding at period end
707m
671m
651m
+5.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
8,230
5,003
3,975
+64.5%
Redeemable equity
0.0
n/a
0.0
Debt
2,008
1,286
1,371
+56.2%
Other liabilities
7,347
6,482
5,308
+13.3%
Total liabilities and equity
17,585
12,771
10,654
+37.7%
Fixed assets
1,788
1,716
1,126
+4.2%
Goodwill
7,264
3,850
3,783
+88.7%
Intangible assets
1,113
490
632
+127.2%
Investments
602
2,951
982
-79.6%
Cash and equivalents
1,607
1,158
908
+38.7%
Receivables
3,197
2,496
1,906
+28.1%
Other assets
2,015
109
1,318
+1,740.5%
Total assets
17,585
12,771
10,654
+37.7%
10-K for the year ended 31 January 2017, filed 6 March 2017: the filing.