Factset Research Systems (FDS) FY2020 results: revenue $1.5 billion, up 4.1% on the year
Factset Research Systems Inc. (FDS) reported revenue of $1.5 billion for fiscal 2020, the year ended 31 August 2020, up 4.1% on the year before. Net income was $373 million, up 5.7%, and diluted earnings per share $9.65. The figures are the company's own, from the 10-K it filed with the SEC on 29 October 2020.
Revenue
$1.5 billion
+4.1% on the year
FY2013FY2020
Operating margin
29.4%
30.5% a year earlier
FY2013FY2020
Net income
$373 million
+5.7% on the year
FY2013FY2020
Diluted EPS
$9.65
+6.3% 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
1,494
1,435
1,350
+4.1%
Cost of revenue
695
663
659
+4.8%
Gross profit
799
772
691
+3.5%
Gross margin
53.5%
53.8%
51.2%
Research and development
224
215
217
+4.3%
Selling, general and administrative
343
334
325
+2.6%
Operating income
440
438
366
+0.4%
Operating margin
29.4%
30.5%
27.1%
Interest expense
12.9
19.8
15.9
-34.8%
Pre-tax income
427
422
352
+1.2%
Income tax
54.2
69.2
84.8
-21.7%
Effective tax rate
12.7%
16.4%
24.1%
Net income
373
353
267
+5.7%
Net margin
25.0%
24.6%
19.8%
Diluted EPS
$9.65
$9.08
$6.78
+6.3%
$ 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
506
427
386
+18.4%
Capital expenditure
77.6
59.4
33.5
+30.8%
Free cash flow
428
368
352
+16.4%
Free cash flow margin
28.7%
25.6%
26.1%
Cash from investing
-73.6
-56.1
-48.5
Cash from financing
-218
-214
-320
Depreciation and amortisation
57.6
60.5
57.3
-4.7%
Share-based compensation
36.6
32.4
31.5
+12.9%
Buybacks
200
220
304
-9.4%
Dividends paid
110
100
89.4
+10.4%
Diluted shares, weighted
39m
39m
39m
-0.6%
Shares outstanding at period end
38m
38m
38m
-0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
896
672
526
+33.3%
Debt
574
574
575
+0.0%
Operating lease liabilities
272
0.0
n/a
Other liabilities
340
314
319
+8.5%
Total liabilities and equity
2,083
1,560
1,419
+33.5%
Fixed assets
133
119
101
+11.5%
Goodwill
710
686
702
+3.5%
Intangible assets
121
124
149
-2.7%
Investments
19.6
25.8
29.3
-24.2%
Cash and equivalents
586
360
209
+62.8%
Receivables
155
146
157
+5.9%
Other assets
359
98.6
73.6
+264.2%
Total assets
2,083
1,560
1,419
+33.5%
10-K for the year ended 31 August 2020, filed 29 October 2020: the filing.