Gartner (IT) FY2022 results: revenue $5.5 billion, up 15.7% on the year

Gartner Inc. (IT) reported revenue of $5.5 billion for fiscal 2022, the year ended 31 December 2022, up 15.7% on the year before. Net income was $808 million, up 1.8%, and diluted earnings per share $9.96. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.

Revenue

$5.5 billion

+15.7% on the year

FY2015FY2022

Operating margin

20.1%

19.3% a year earlier

FY2015FY2022

Net income

$808 million

+1.8% on the year

FY2015FY2022

Diluted EPS

$9.96

+8.1% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	5,476	4,734	4,099	+15.7%
Cost of revenue	1,694	1,444	1,345	+17.3%
Gross profit	3,815	3,290	2,754	+16.0%
Gross margin	69.7%	69.5%	67.2%
Selling, general and administrative	2,481	2,156	2,039	+15.1%
Operating income	1,100	916	490	+20.1%
Operating margin	20.1%	19.3%	12.0%
Interest expense	126	119	116	+6.5%
Pre-tax income	1,027	970	326	+5.9%
Income tax	219	176	59.4	+24.4%
Effective tax rate	21.4%	18.2%	18.2%
Net income	808	794	267	+1.8%
Net margin	14.8%	16.8%	6.5%
Diluted EPS	$9.96	$9.21	$2.96	+8.1%

$ million except per share.

Free 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	1,101	1,312	903	-16.1%
Capital expenditure	108	59.8	83.9	+80.6%
Free cash flow	993	1,253	819	-20.7%
Free cash flow margin	18.1%	26.5%	20.0%
Cash from investing	-118	-80.5	-83.9
Cash from financing	-1,027	-1,158	-416
Depreciation and amortisation	192	212	219	-9.6%
Share-based compensation	90.6	98.6	62.5	-8.1%
Buybacks	1,044	1,656	176	-37.0%
Diluted shares, weighted	81m	86m	90m	-5.9%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	228	371	1,090	-38.6%
Debt	2,461	2,463	1,979	-0.1%
Operating lease liabilities	597	698	780	-14.4%
Other liabilities	4,013	3,885	3,467	+3.3%
Total liabilities and equity	7,300	7,416	7,316	-1.6%
Fixed assets	265	274	337	-3.3%
Goodwill	2,930	2,951	2,946	-0.7%
Intangible assets	585	714	807	-18.2%
Cash and equivalents	698	756	713	-7.7%
Receivables	1,557	1,365	1,242	+14.0%
Other assets	1,265	1,355	1,273	-6.6%
Total assets	7,300	7,416	7,316	-1.6%

10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.