Factset Research Systems (FDS) FY2019 results: revenue $1.4 billion, up 6.3% on the year
Factset Research Systems Inc. (FDS) reported revenue of $1.4 billion for fiscal 2019, the year ended 31 August 2019, up 6.3% on the year before. Net income was $353 million, up 32.1%, and diluted earnings per share $9.08. The figures are the company's own, from the 10-K it filed with the SEC on 30 October 2019.
Revenue
$1.4 billion
+6.3% on the year
FY2012FY2019
Operating margin
30.5%
27.1% a year earlier
FY2012FY2019
Net income
$353 million
+32.1% on the year
FY2012FY2019
Diluted EPS
$9.08
+33.9% 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
1,435
1,350
1,221
+6.3%
Cost of revenue
663
659
567
+0.6%
Gross profit
772
691
655
+11.7%
Gross margin
53.8%
51.2%
53.6%
Research and development
215
217
215
-1.1%
Selling, general and administrative
334
325
302
+2.8%
Operating income
438
366
352
+19.6%
Operating margin
30.5%
27.1%
28.8%
Interest expense
19.8
15.9
8.4
+24.5%
Pre-tax income
422
352
344
+19.9%
Income tax
69.2
84.8
86.1
-18.4%
Effective tax rate
16.4%
24.1%
25.0%
Net income
353
267
258
+32.1%
Net margin
24.6%
19.8%
21.1%
Diluted EPS
$9.08
$6.78
$6.51
+33.9%
$ 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
427
386
321
+10.8%
Capital expenditure
59.4
33.5
36.9
+77.1%
Free cash flow
368
352
284
+4.4%
Free cash flow margin
25.6%
26.1%
23.2%
Cash from investing
-56.1
-48.5
-347
Cash from financing
-214
-320
-8.2
Depreciation and amortisation
60.5
57.3
48.3
+5.5%
Share-based compensation
32.4
31.5
34.2
+2.8%
Buybacks
220
304
261
-27.5%
Dividends paid
100
89.4
80.9
+11.9%
Diluted shares, weighted
39m
39m
40m
-1.3%
Shares outstanding at period end
38m
38m
39m
-0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
672
526
560
+27.8%
Debt
574
575
575
-0.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
314
319
279
-1.6%
Total liabilities and equity
1,560
1,419
1,413
+9.9%
Fixed assets
119
101
100
+18.7%
Goodwill
686
702
708
-2.3%
Intangible assets
124
149
174
-16.4%
Investments
25.8
29.3
32.4
-11.8%
Cash and equivalents
360
209
195
+72.5%
Receivables
146
157
148
-6.6%
Other assets
98.6
73.6
56.3
+34.0%
Total assets
1,560
1,419
1,413
+9.9%
10-K for the year ended 31 August 2019, filed 30 October 2019: the filing.