Salesforce (CRM) FY2020 results: revenue $17.1 billion, up 28.7% on the year
Salesforce, Inc. (CRM) reported revenue of $17.1 billion for fiscal 2020, the year ended 31 January 2020, up 28.7% on the year before. Net income was $126 million, down 88.6%, and diluted earnings per share $0.15. The figures are the company's own, from the 10-K it filed with the SEC on 5 March 2020.
Revenue
$17.1 billion
+28.7% on the year
FY2013FY2020
Operating margin
1.7%
4.0% a year earlier
FY2013FY2020
Net income
$126 million
-88.6% on the year
FY2013FY2020
Diluted EPS
$0.15
-89.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
17,098
13,282
10,540
+28.7%
Cost of revenue
4,235
3,451
2,773
+22.7%
Gross profit
12,863
9,831
7,767
+30.8%
Gross margin
75.2%
74.0%
73.7%
Research and development
2,766
1,886
1,553
+46.7%
Operating income
297
535
454
-44.5%
Operating margin
1.7%
4.0%
4.3%
Interest expense
110
154
86.9
-28.6%
Pre-tax income
706
983
420
-28.2%
Income tax
580
-127
60.0
Effective tax rate
82.2%
-12.9%
14.3%
Net income
126
1,110
360
-88.6%
Net margin
0.7%
8.4%
3.4%
Diluted EPS
$0.15
$1.43
$0.49
-89.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,331
3,398
2,738
+27.5%
Capital expenditure
643
595
534
+8.1%
Free cash flow
3,688
2,803
2,204
+31.6%
Free cash flow margin
21.6%
21.1%
20.9%
Cash from investing
-2,980
-5,308
-2,011
Cash from financing
164
2,010
221
-91.8%
Depreciation and amortisation
455
411
373
+10.7%
Share-based compensation
1,785
1,283
997
+39.1%
Diluted shares, weighted
850m
775m
735m
+9.7%
Shares outstanding at period end
893m
770m
707m
+16.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
33,885
15,605
10,376
+117.1%
Redeemable equity
n/a
n/a
3.9
Debt
2,694
3,198
1,727
-15.8%
Operating lease liabilities
2,445
n/a
n/a
Finance lease liabilities
332
n/a
n/a
Other liabilities
15,770
11,934
9,877
+32.1%
Total liabilities and equity
55,126
30,737
21,984
+79.3%
Fixed assets
2,375
2,051
1,947
+15.8%
Goodwill
25,134
12,851
7,314
+95.6%
Intangible assets
4,724
1,923
826
+145.7%
Investments
3,802
1,673
1,978
+127.3%
Cash and equivalents
4,145
2,669
2,543
+55.3%
Receivables
6,174
4,924
3,917
+25.4%
Other assets
8,772
4,646
3,458
+88.8%
Total assets
55,126
30,737
21,984
+79.3%
10-K for the year ended 31 January 2020, filed 5 March 2020: the filing.