Jacobs Solutions (J) Q4 FY2021 earnings: revenue $3.6 billion, up 1.9% on the year

Jacobs Solutions Inc. (J) reported revenue of $3.6 billion for Q4 FY2021, the quarter ended 1 October 2021, up 1.9% on the same quarter a year earlier. Net income was $43 million, down 47.4% on the year, and diluted earnings per share $0.33. The figures are the company's own, from the 10-K it filed with the SEC on 23 November 2021.

Revenue

$3.6 billion

+1.9% on the year · +0.3% on the quarter

Q1 FY2020Q4 FY2021

Operating margin

7.0%

0.6% a year earlier

Q1 FY2020Q4 FY2021

Net income

$43 million

-47.4% on the year · -74.0% on the quarter

Q1 FY2020Q4 FY2021

Diluted EPS

$0.33

-46.8% on the year · -60.2% on the quarter

Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Revenue	3,586	3,576	3,520	+0.3%	+1.9%
Cost of revenue	2,759	n/a	n/a
Gross profit	828	n/a	n/a
Gross margin	23.1%	n/a	n/a
Selling, general and administrative	576	n/a	n/a
Operating income	252	264	22.5	-4.6%	+1,019.1%
Operating margin	7.0%	7.4%	0.6%
Interest expense	19.9	n/a	n/a
Pre-tax income	170	n/a	n/a
Net income	43.1	166	82.0	-74.0%	-47.4%
Net margin	1.2%	n/a	n/a
Diluted EPS	$0.33	$0.83	$0.62	-60.2%	-46.8%

$ million except per share.

Fourth quarters are the year less the first three quarters. 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	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Operating cash flow	203	n/a	n/a
Capital expenditure	27.1	n/a	n/a
Free cash flow	176	n/a	n/a
Free cash flow margin	4.9%	n/a	n/a
Cash from investing	341	n/a	n/a
Cash from financing	-481	n/a	n/a
Depreciation and amortisation	26.5	26.4	24.1	+0.5%	+10.2%
Share-based compensation	14.7	n/a	n/a
Buybacks	250	n/a	n/a
Dividends paid	27.4	n/a	n/a
Diluted shares, weighted	131m	131m	n/a	-0.1%
Shares outstanding at period end	129m	130m	130m	-1.1%	-0.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2021	Q3 FY2021	Q4 FY2020	On the quarter	On the year
Shareholders' equity	5,940	6,153	5,816	-3.5%	+2.1%
Non-controlling interest	34.8	n/a	n/a
Redeemable equity	658	n/a	n/a
Short-term borrowings	53.5	n/a	n/a
Debt	2,893	3,122	1,677	-7.3%	+72.5%
Operating lease liabilities	758	n/a	n/a
Other liabilities	4,295	n/a	n/a
Total liabilities and equity	14,633	n/a	n/a
Fixed assets	353	n/a	n/a
Goodwill	7,197	n/a	n/a
Intangible assets	1,566	n/a	n/a
Cash and equivalents	1,014	966	862	+5.0%	+17.6%
Receivables	3,101	n/a	n/a
Other assets	1,401	n/a	n/a
Total assets	14,633	n/a	n/a

Questions

What was Jacobs Solutions' revenue in Q4 FY2021?

Jacobs Solutions (J) reported revenue of $3.6 billion for Q4 FY2021, the quarter ended 1 October 2021, up 1.9% on the same quarter a year earlier.

How much did Jacobs Solutions earn in Q4 FY2021?

Net income for Q4 FY2021 was $43 million, down 47.4% on the year, and diluted earnings per share $0.33.

When did Jacobs Solutions report Q4 FY2021 results?

Jacobs Solutions filed its 10-K for the year that ended with the quarter on 23 November 2021; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023	Q1 FY2024 †	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,586	3,381	3,834	3,827	3,881	2,549	2,677	2,792	2,834	2,810	2,847	2,883	2,960	2,933	2,910	3,032	3,155	3,293	3,695	4,076
Cost of revenue	2,759	2,584	2,964	3,003	3,045	2,984	3,188	3,330	3,377	2,145	2,135	2,162	2,225	2,212	2,172	2,273	2,388	2,528	2,900	3,266
Gross profit	828	796	870	824	836	815	890	857	912	665	712	721	735	721	738	758	767	765	795	811
Gross margin	23%	24%	23%	22%	22%	32%	33%	31%	32%	24%	25%	25%	25%	25%	25%	25%	24%	23%	22%	20%
SG&A	576	619	704	559	527	577	600	587	634	523	529	550	539	513	530	523	555	533	876	524
Operating income	252	177	166	266	309	155	186	168	168	142	183	171	196	208	209	235	212	233	-81.2	287
Operating margin	7%	5%	4%	7%	8%	6%	7%	6%	6%	5%	6%	6%	7%	7%	7%	8%	7%	7%	-2%	7%
Interest expense	19.9	19.4	22.0	26.1	32.7	40.1	40.6	43.8	43.6	43.4	44.2	45.8	35.7	34.8	38.6	37.1	35.3	34.3	41.1	54.7
Pre-tax income	170	169	155	272	280	115	149	125	132	103	144	136	394	53.1	55.8	245	189	206	-131	241
Tax rate	n/a	9%	30%	22%	14%	44%	13%	43%	55%	-31%	30%	33%	19%	108%	91%	22%	29%	35%	n/a	43%
Net income	43.1	134	88.8	196	225	136	217	164	149	172	162	147	325	-18.1	5.6	180	122	126	-45.9	137
Net margin	1%	4%	2%	5%	6%	5%	8%	6%	5%	6%	6%	5%	11%	-1%	0%	6%	4%	4%	-1%	3%
Diluted EPS	$0.33	$1.03	$0.68	$1.52	$1.75	$1.06	$1.70	$1.29	$1.24	$1.37	$1.28	$1.17	$2.51	-$0.11	$0.06	$1.55	$0.92	$1.12	-$0.34	$1.15
Operating cash flow	203	322	125	-249	278	302	132	321	219	418	-42.8	483	197	107	-96.4	293	383	381	-484	456
Capital expenditure	27.1	19.3	28.9	31.8	47.6	32.2	35.2	30.9	39.2	17.3	27.8	37.7	38.3	10.3	17.3	22.1	29.6	15.8	20.8	25.1
Free cash flow	176	302	95.7	-281	230	270	96.8	290	180	401	-70.6	445	158	97.1	-114	271	354	365	-505	431
Buybacks	250	0.0	50.0	201	31.2	141	0.0	125	0.1	100	95.4	151	56.3	202	351	101	101	252	220	142
Dividends paid	27.4	27.5	29.7	29.3	29.4	29.8	33.0	32.9	32.7	33.4	36.8	36.3	36.3	36.5	39.4	38.9	38.2	38.6	42.6	42.2
Shares outstanding	129m	129m	129m	128m	127m	127m	127m	126m	126m	126m	125m	124m	124m	123m	120m	120m	119m	118m	118m	117m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 1 October 2021, filed 23 November 2021: the filing.