Salesforce (CRM) FY2019 results: revenue $13.3 billion, up 26.0% on the year
Salesforce, Inc. (CRM) reported revenue of $13.3 billion for fiscal 2019, the year ended 31 January 2019, up 26.0% on the year before. Net income was $1.1 billion, up 208.3%, and diluted earnings per share $1.43. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2019.
Revenue
$13.3 billion
+26.0% on the year
FY2012FY2019
Operating margin
4.0%
4.3% a year earlier
FY2012FY2019
Net income
$1.1 billion
+208.3% on the year
FY2012FY2019
Diluted EPS
$1.43
+191.8% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
13,282
10,540
8,437
+26.0%
Cost of revenue
3,451
2,773
2,234
+24.5%
Gross profit
9,831
7,767
6,203
+26.6%
Gross margin
74.0%
73.7%
73.5%
Research and development
1,886
1,553
1,208
+21.4%
Operating income
535
454
218
+17.8%
Operating margin
4.0%
4.3%
2.6%
Interest expense
154
86.9
89.0
+77.1%
Pre-tax income
983
420
179
+134.0%
Income tax
-127
60.0
-144
Effective tax rate
-12.9%
14.3%
-80.4%
Net income
1,110
360
323
+208.3%
Net margin
8.4%
3.4%
3.8%
Diluted EPS
$1.43
$0.49
$0.46
+191.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
3,398
2,738
2,162
+24.1%
Capital expenditure
595
534
464
+11.4%
Free cash flow
2,803
2,204
1,698
+27.2%
Free cash flow margin
21.1%
20.9%
20.1%
Cash from investing
-5,308
-2,011
-2,684
Cash from financing
2,010
221
998
+808.6%
Depreciation and amortisation
411
373
632
+10.2%
Share-based compensation
1,283
997
820
+28.7%
Diluted shares, weighted
775m
735m
700m
+5.4%
Shares outstanding at period end
770m
707m
707m
+8.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
15,605
10,376
8,230
+50.4%
Redeemable equity
n/a
3.9
0.0
Debt
3,198
1,727
2,008
+85.2%
Other liabilities
11,934
9,877
7,347
+20.8%
Total liabilities and equity
30,737
21,984
17,585
+39.8%
Fixed assets
2,051
1,947
1,788
+5.4%
Goodwill
12,851
7,314
7,264
+75.7%
Intangible assets
1,923
826
1,113
+132.7%
Investments
1,673
1,978
602
-15.4%
Cash and equivalents
2,669
2,543
1,607
+4.9%
Receivables
4,924
3,917
3,197
+25.7%
Other assets
4,646
3,458
2,015
+34.4%
Total assets
30,737
21,984
17,585
+39.8%
10-K for the year ended 31 January 2019, filed 8 March 2019: the filing.