Salesforce (CRM) FY2018 results: revenue $10.5 billion, up 24.9% on the year
Salesforce, Inc. (CRM) reported revenue of $10.5 billion for fiscal 2018, the year ended 31 January 2018, up 24.9% on the year before. Net income was $360 million, up 11.5%, and diluted earnings per share $0.49. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2019.
Revenue
$10.5 billion
+24.9% on the year
FY2011FY2018
Operating margin
4.3%
2.6% a year earlier
FY2011FY2018
Net income
$360 million
+11.5% on the year
FY2011FY2018
Diluted EPS
$0.49
+6.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
10,540
8,437
6,667
+24.9%
Cost of revenue
2,773
2,234
1,655
+24.1%
Gross profit
7,767
6,203
5,013
+25.2%
Gross margin
73.7%
73.5%
75.2%
Research and development
1,553
1,208
946
+28.6%
Operating income
454
218
115
+108.3%
Operating margin
4.3%
2.6%
1.7%
Interest expense
86.9
89.0
72.5
-2.3%
Pre-tax income
420
179
64.3
+134.6%
Income tax
60.0
-144
112
Effective tax rate
14.3%
-80.4%
173.8%
Net income
360
323
-47.4
+11.5%
Net margin
3.4%
3.8%
-0.7%
Diluted EPS
$0.49
$0.46
-$0.07
+6.5%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,738
2,162
1,672
+26.6%
Capital expenditure
534
464
284
+15.1%
Free cash flow
2,204
1,698
1,388
+29.8%
Free cash flow margin
20.9%
20.1%
20.8%
Cash from investing
-2,011
-2,684
-1,488
Cash from financing
221
998
73.2
-77.8%
Depreciation and amortisation
373
632
526
-41.0%
Share-based compensation
997
820
594
+21.5%
Diluted shares, weighted
735m
700m
662m
+5.0%
Shares outstanding at period end
707m
707m
671m
0.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
10,376
8,230
5,003
+26.1%
Redeemable equity
3.9
0.0
n/a
Debt
1,727
2,008
1,286
-14.0%
Other liabilities
9,877
7,347
6,482
+34.4%
Total liabilities and equity
21,984
17,585
12,771
+25.0%
Fixed assets
1,947
1,788
1,716
+8.9%
Goodwill
7,314
7,264
3,850
+0.7%
Intangible assets
826
1,113
490
-25.8%
Investments
1,978
602
2,951
+228.4%
Cash and equivalents
2,543
1,607
1,158
+58.3%
Receivables
3,917
3,197
2,496
+22.5%
Other assets
3,458
2,015
109
+71.6%
Total assets
21,984
17,585
12,771
+25.0%
10-K for the year ended 31 January 2018, filed 8 March 2019: the filing.