Alphabet (GOOGL) FY2020 results: revenue $182.5 billion, up 12.8% on the year
Alphabet Inc. (GOOGL) reported revenue of $182.5 billion for fiscal 2020, the year ended 31 December 2020, up 12.8% on the year before. Net income was $40.3 billion, up 17.3%, and diluted earnings per share $2.93. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2021.
Revenue
$182.5 billion
+12.8% on the year
FY2013FY2020
Operating margin
22.6%
21.1% a year earlier
FY2013FY2020
Net income
$40.3 billion
+17.3% on the year
FY2013FY2020
Diluted EPS
$2.93
+19.2% 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
182,527
161,857
136,819
+12.8%
Cost of revenue
84,732
71,896
59,549
+17.9%
Gross profit
97,795
89,961
77,270
+8.7%
Gross margin
53.6%
55.6%
56.5%
Research and development
27,573
26,018
21,419
+6.0%
Operating income
41,224
34,231
27,524
+20.4%
Operating margin
22.6%
21.1%
20.1%
Interest expense
135
100
114
+35.0%
Pre-tax income
48,082
39,625
34,913
+21.3%
Income tax
7,813
5,282
4,177
+47.9%
Effective tax rate
16.2%
13.3%
12.0%
Net income
40,269
34,343
30,736
+17.3%
Net margin
22.1%
21.2%
22.5%
Diluted EPS
$2.93
$2.46
$2.19
+19.2%
$ 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
65,124
54,520
47,971
+19.4%
Capital expenditure
22,281
23,548
25,139
-5.4%
Free cash flow
42,843
30,972
22,832
+38.3%
Free cash flow margin
23.5%
19.1%
16.7%
Cash from investing
-32,773
-29,491
-28,504
Cash from financing
-24,408
-23,209
-13,179
Share-based compensation
12,991
10,794
9,353
+20.4%
Buybacks
31,149
18,396
9,075
+69.3%
Dividends paid
0.0
0.0
0.0
Shares outstanding at period end
13,504m
13,767m
13,911m
-1.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
222,544
201,442
177,628
+10.5%
Debt
15,319
4,685
4,062
+227.0%
Operating lease liabilities
11,146
10,214
0.0
+9.1%
Finance lease liabilities
n/a
685
n/a
Other liabilities
70,607
58,883
51,102
+19.9%
Total liabilities and equity
319,616
275,909
232,792
+15.8%
Fixed assets
84,749
73,646
59,719
+15.1%
Goodwill
21,175
20,624
17,888
+2.7%
Intangible assets
1,445
1,979
2,220
-27.0%
Investments
110,229
101,177
92,439
+8.9%
Cash and equivalents
26,465
18,498
16,701
+43.1%
Receivables
30,930
25,326
20,838
+22.1%
Inventory
728
999
1,107
-27.1%
Other assets
43,895
33,660
21,880
+30.4%
Total assets
319,616
275,909
232,792
+15.8%
10-K for the year ended 31 December 2020, filed 3 February 2021: the filing.