Gartner (IT) FY2020 results: revenue $4.1 billion, down 3.4% on the year
Gartner Inc. (IT) reported revenue of $4.1 billion for fiscal 2020, the year ended 31 December 2020, down 3.4% on the year before. Net income was $267 million, up 14.3%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$4.1 billion
-3.4% on the year
FY2013FY2020
Operating margin
12.0%
8.7% a year earlier
FY2013FY2020
Net income
$267 million
+14.3% on the year
FY2013FY2020
Diluted EPS
$2.96
+15.6% 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
4,099
4,245
3,975
-3.4%
Cost of revenue
1,345
1,551
1,469
-13.3%
Gross profit
2,754
2,695
2,507
+2.2%
Gross margin
67.2%
63.5%
63.1%
Selling, general and administrative
2,039
2,103
1,884
-3.1%
Operating income
490
370
260
+32.4%
Operating margin
12.0%
8.7%
6.5%
Interest expense
116
103
127
+12.5%
Pre-tax income
326
276
181
+18.3%
Income tax
59.4
42.4
58.7
+39.9%
Effective tax rate
18.2%
15.4%
32.4%
Net income
267
233
122
+14.3%
Net margin
6.5%
5.5%
3.1%
Diluted EPS
$2.96
$2.56
$1.33
+15.6%
$ 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
903
565
471
+59.7%
Capital expenditure
83.9
149
127
-43.7%
Free cash flow
819
416
344
+96.8%
Free cash flow margin
20.0%
9.8%
8.7%
Cash from investing
-83.9
-161
384
Cash from financing
-416
-286
-1,257
Depreciation and amortisation
219
212
256
+3.4%
Share-based compensation
62.5
69.0
66.2
-9.4%
Buybacks
176
199
261
-11.4%
Diluted shares, weighted
90m
91m
92m
-1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,090
939
851
+16.2%
Debt
1,979
2,184
2,282
-9.4%
Operating lease liabilities
780
833
165
-6.3%
Other liabilities
3,467
3,197
2,904
+8.4%
Total liabilities and equity
7,316
7,151
6,201
+2.3%
Fixed assets
337
345
268
-2.3%
Goodwill
2,946
2,938
2,923
+0.3%
Intangible assets
807
925
1,043
-12.8%
Cash and equivalents
713
281
156
+153.7%
Receivables
1,242
1,326
1,255
-6.4%
Other assets
1,273
1,337
557
-4.8%
Total assets
7,316
7,151
6,201
+2.3%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.