Gartner (IT) FY2019 results: revenue $4.2 billion, up 6.8% on the year
Gartner Inc. (IT) reported revenue of $4.2 billion for fiscal 2019, the year ended 31 December 2019, up 6.8% on the year before. Net income was $233 million, up 90.5%, and diluted earnings per share $2.56. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$4.2 billion
+6.8% on the year
FY2012FY2019
Operating margin
8.7%
6.5% a year earlier
FY2012FY2019
Net income
$233 million
+90.5% on the year
FY2012FY2019
Diluted EPS
$2.56
+92.5% 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
4,245
3,975
3,311
+6.8%
Cost of revenue
1,551
1,469
1,320
+5.6%
Gross profit
2,695
2,507
1,991
+7.5%
Gross margin
63.5%
63.1%
60.1%
Selling, general and administrative
2,103
1,884
1,599
+11.6%
Operating income
370
260
-6.3
+42.5%
Operating margin
8.7%
6.5%
-0.2%
Interest expense
103
127
128
-18.9%
Pre-tax income
276
181
-128
+52.2%
Income tax
42.4
58.7
-131
-27.6%
Effective tax rate
15.4%
32.4%
n/a
Net income
233
122
3.3
+90.5%
Net margin
5.5%
3.1%
0.1%
Diluted EPS
$2.56
$1.33
$0.04
+92.5%
$ 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
565
471
255
+20.0%
Capital expenditure
149
127
111
+17.5%
Free cash flow
416
344
144
+21.0%
Free cash flow margin
9.8%
8.7%
4.3%
Cash from investing
-161
384
-2,753
Cash from financing
-286
-1,257
2,540
Depreciation and amortisation
212
256
240
-17.1%
Share-based compensation
69.0
66.2
78.9
+4.3%
Buybacks
199
261
41.3
-23.7%
Diluted shares, weighted
91m
92m
90m
-1.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
939
851
983
+10.3%
Debt
2,184
2,282
3,279
-4.3%
Operating lease liabilities
833
165
116
+403.4%
Other liabilities
3,197
2,904
2,905
+10.1%
Total liabilities and equity
7,151
6,201
7,283
+15.3%
Fixed assets
345
268
222
+28.7%
Goodwill
2,938
2,923
2,987
+0.5%
Intangible assets
925
1,043
1,292
-11.3%
Cash and equivalents
281
156
539
+79.6%
Receivables
1,326
1,255
1,177
+5.6%
Other assets
1,337
557
1,067
+140.2%
Total assets
7,151
6,201
7,283
+15.3%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.