Jabil (JBL) FY2021 results: revenue $29.3 billion, up 7.4% on the year
Jabil Inc. (JBL) reported revenue of $29.3 billion for fiscal 2021, the year ended 31 August 2021, up 7.4% on the year before. Net income was $696 million, up 1191.0%, and diluted earnings per share $4.58. The figures are the company's own, from the 10-K it filed with the SEC on 22 October 2021.
Revenue
$29.3 billion
+7.4% on the year
FY2014FY2021
Operating margin
3.6%
1.8% a year earlier
FY2014FY2021
Net income
$696 million
+1,191.0% on the year
FY2014FY2021
Diluted EPS
$4.58
+1,208.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
29,285
27,266
25,282
+7.4%
Cost of revenue
26,926
25,336
23,369
+6.3%
Gross profit
2,359
1,931
1,913
+22.2%
Gross margin
8.1%
7.1%
7.6%
Research and development
34.0
43.0
43.0
-20.9%
Selling, general and administrative
1,213
1,175
1,111
+3.3%
Operating income
1,055
500
701
+111.1%
Operating margin
3.6%
1.8%
2.8%
Interest expense
130
174
188
-25.2%
Pre-tax income
944
261
451
+262.0%
Income tax
246
204
162
+20.6%
Effective tax rate
26.1%
78.2%
35.9%
Net income
696
53.9
287
+1,191.0%
Net margin
2.4%
0.2%
1.1%
Diluted EPS
$4.58
$0.35
$1.81
+1,208.6%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,433
1,257
1,193
+14.0%
Capital expenditure
1,159
983
1,005
+17.9%
Free cash flow
274
274
188
-0.1%
Free cash flow margin
0.9%
1.0%
0.7%
Cash from investing
-851
-921
-872
Cash from financing
-413
-65.1
-416
Depreciation and amortisation
876
795
772
+10.2%
Share-based compensation
102
83.1
61.0
+22.8%
Buybacks
428
215
350
+99.1%
Dividends paid
50.0
50.0
52.0
0.0%
Diluted shares, weighted
152m
155m
159m
-2.0%
Shares outstanding at period end
144m
150m
154m
-3.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,136
1,811
1,887
+17.9%
Non-controlling interest
1.0
14.0
13.3
-92.9%
Debt
2,878
2,728
2,496
+5.5%
Operating lease liabilities
333
302
n/a
+10.3%
Finance lease liabilities
223
161
n/a
+38.7%
Other liabilities
11,083
9,381
8,573
+18.1%
Total liabilities and equity
16,654
14,397
12,970
+15.7%
Fixed assets
n/a
3,665
3,334
Goodwill
715
697
622
+2.6%
Intangible assets
182
210
257
-13.3%
Cash and equivalents
1,567
1,394
1,163
+12.4%
Receivables
3,141
n/a
n/a
Inventory
4,414
3,132
3,023
+40.9%
Other assets
6,635
5,300
4,571
+25.2%
Total assets
16,654
14,397
12,970
+15.7%
10-K for the year ended 31 August 2021, filed 22 October 2021: the filing.