Salesforce (CRM) FY2021 results: revenue $21.3 billion, up 24.3% on the year
Salesforce, Inc. (CRM) reported revenue of $21.3 billion for fiscal 2021, the year ended 31 January 2021, up 24.3% on the year before. Net income was $4.1 billion, up 3131.7%, and diluted earnings per share $4.38. The figures are the company's own, from the 10-K it filed with the SEC on 17 March 2021.
Revenue
$21.3 billion
+24.3% on the year
FY2014FY2021
Operating margin
2.1%
1.7% a year earlier
FY2014FY2021
Net income
$4.1 billion
+3,131.7% on the year
FY2014FY2021
Diluted EPS
$4.38
+2,820.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
21,252
17,098
13,282
+24.3%
Cost of revenue
5,438
4,235
3,451
+28.4%
Gross profit
15,814
12,863
9,831
+22.9%
Gross margin
74.4%
75.2%
74.0%
Research and development
3,598
2,766
1,886
+30.1%
Operating income
455
297
535
+53.2%
Operating margin
2.1%
1.7%
4.0%
Interest expense
110
110
154
0.0%
Pre-tax income
2,561
706
983
+262.7%
Income tax
-1,511
580
-127
Effective tax rate
-59.0%
82.2%
-12.9%
Net income
4,072
126
1,110
+3,131.7%
Net margin
19.2%
0.7%
8.4%
Diluted EPS
$4.38
$0.15
$1.43
+2,820.0%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
4,801
4,331
3,398
+10.9%
Capital expenditure
710
643
595
+10.4%
Free cash flow
4,091
3,688
2,803
+10.9%
Free cash flow margin
19.2%
21.6%
21.1%
Cash from investing
-3,971
-2,980
-5,308
Cash from financing
1,194
164
2,010
+628.0%
Depreciation and amortisation
579
455
411
+27.3%
Share-based compensation
2,190
1,785
1,283
+22.7%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
930m
850m
775m
+9.4%
Shares outstanding at period end
919m
893m
770m
+2.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
41,493
33,885
15,605
+22.5%
Debt
2,677
2,694
3,198
-0.6%
Operating lease liabilities
2,842
2,445
n/a
+16.2%
Finance lease liabilities
93.0
332
n/a
-72.0%
Other liabilities
19,196
15,770
11,934
+21.7%
Total liabilities and equity
66,301
55,126
30,737
+20.3%
Fixed assets
2,459
2,375
2,051
+3.5%
Goodwill
26,318
25,134
12,851
+4.7%
Intangible assets
4,114
4,724
1,923
-12.9%
Investments
5,771
3,802
1,673
+51.8%
Cash and equivalents
6,195
4,145
2,669
+49.5%
Receivables
7,786
6,174
4,924
+26.1%
Other assets
13,658
8,772
4,646
+55.7%
Total assets
66,301
55,126
30,737
+20.3%
10-K for the year ended 31 January 2021, filed 17 March 2021: the filing.