Alphabet (GOOG) FY2019 results: revenue $161.9 billion, up 18.3% on the year
Alphabet Inc. (GOOG) reported revenue of $161.9 billion for fiscal 2019, the year ended 31 December 2019, up 18.3% on the year before. Net income was $34.3 billion, up 11.7%, and diluted earnings per share $2.46. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2021.
Revenue
$161.9 billion
+18.3% on the year
FY2013FY2019
Operating margin
21.1%
20.1% a year earlier
FY2013FY2019
Net income
$34.3 billion
+11.7% on the year
FY2013FY2019
Diluted EPS
$2.46
+12.5% on the year
FY2013FY2019
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
161,857
136,819
110,855
+18.3%
Cost of revenue
71,896
59,549
45,583
+20.7%
Gross profit
89,961
77,270
65,272
+16.4%
Gross margin
55.6%
56.5%
58.9%
Research and development
26,018
21,419
16,625
+21.5%
Operating income
34,231
27,524
26,146
+24.4%
Operating margin
21.1%
20.1%
23.6%
Interest expense
100
114
109
-12.3%
Pre-tax income
39,625
34,913
27,193
+13.5%
Income tax
5,282
4,177
14,531
+26.5%
Effective tax rate
13.3%
12.0%
53.4%
Net income
34,343
30,736
12,662
+11.7%
Net margin
21.2%
22.5%
11.4%
Diluted EPS
$2.46
$2.19
$0.90
+12.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
54,520
47,971
37,091
+13.7%
Capital expenditure
23,548
25,139
13,184
-6.3%
Free cash flow
30,972
22,832
23,907
+35.7%
Free cash flow margin
19.1%
16.7%
21.6%
Cash from investing
-29,491
-28,504
-31,401
Cash from financing
-23,209
-13,179
-8,298
Share-based compensation
10,794
9,353
7,679
+15.4%
Buybacks
18,396
9,075
4,846
+102.7%
Dividends paid
0.0
0.0
0.0
Shares outstanding at period end
13,767m
13,911m
13,896m
-1.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
201,442
177,628
152,502
+13.4%
Debt
4,685
4,062
4,026
+15.3%
Operating lease liabilities
10,214
0.0
n/a
Finance lease liabilities
685
n/a
n/a
Other liabilities
58,883
51,102
40,767
+15.2%
Total liabilities and equity
275,909
232,792
197,295
+18.5%
Fixed assets
73,646
59,719
42,383
+23.3%
Goodwill
20,624
17,888
16,747
+15.3%
Intangible assets
1,979
2,220
2,692
-10.9%
Investments
101,177
92,439
91,156
+9.5%
Cash and equivalents
18,498
16,701
10,715
+10.8%
Receivables
25,326
20,838
18,336
+21.5%
Inventory
999
1,107
749
-9.8%
Other assets
33,660
21,880
14,517
+53.8%
Total assets
275,909
232,792
197,295
+18.5%
10-K for the year ended 31 December 2019, filed 3 February 2021: the filing.