Factset Research Systems (FDS) FY2021 results: revenue $1.6 billion, up 6.5% on the year
Factset Research Systems Inc. (FDS) reported revenue of $1.6 billion for fiscal 2021, the year ended 31 August 2021, up 6.5% on the year before. Net income was $400 million, up 7.1%, and diluted earnings per share $10.36. The figures are the company's own, from the 10-K it filed with the SEC on 22 October 2021.
Revenue
$1.6 billion
+6.5% on the year
FY2014FY2021
Operating margin
29.8%
29.4% a year earlier
FY2014FY2021
Net income
$400 million
+7.1% on the year
FY2014FY2021
Diluted EPS
$10.36
+7.4% 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
1,591
1,494
1,435
+6.5%
Cost of revenue
786
695
663
+13.1%
Gross profit
805
799
772
+0.8%
Gross margin
50.6%
53.5%
53.8%
Research and development
250
224
215
+11.7%
Selling, general and administrative
331
343
334
-3.4%
Operating income
474
440
438
+7.8%
Operating margin
29.8%
29.4%
30.5%
Interest expense
8.1
12.9
19.8
-37.5%
Pre-tax income
468
427
422
+9.5%
Income tax
68.0
54.2
69.2
+25.5%
Effective tax rate
14.5%
12.7%
16.4%
Net income
400
373
353
+7.1%
Net margin
25.1%
25.0%
24.6%
Diluted EPS
$10.36
$9.65
$9.08
+7.4%
$ 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
555
506
427
+9.8%
Capital expenditure
61.3
77.6
59.4
-21.0%
Free cash flow
494
428
368
+15.3%
Free cash flow margin
31.0%
28.7%
25.6%
Cash from investing
-136
-73.6
-56.1
Cash from financing
-323
-218
-214
Depreciation and amortisation
64.5
57.6
60.5
+11.9%
Share-based compensation
45.1
36.6
32.4
+23.2%
Buybacks
265
200
220
+32.6%
Dividends paid
118
110
100
+6.8%
Diluted shares, weighted
39m
39m
39m
-0.2%
Shares outstanding at period end
38m
38m
38m
-1.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,016
896
672
+13.4%
Debt
575
574
574
+0.0%
Operating lease liabilities
260
272
0.0
-4.5%
Other liabilities
374
340
314
+9.9%
Total liabilities and equity
2,225
2,083
1,560
+6.8%
Fixed assets
131
133
119
-1.3%
Goodwill
754
710
686
+6.3%
Intangible assets
135
121
124
+11.5%
Investments
36.0
19.6
25.8
+83.9%
Cash and equivalents
682
586
360
+16.4%
Receivables
151
155
146
-2.5%
Other assets
335
359
98.6
-6.7%
Total assets
2,225
2,083
1,560
+6.8%
10-K for the year ended 31 August 2021, filed 22 October 2021: the filing.