Jack Henry & Associates (JKHY) FY2024 results: revenue $2.2 billion, up 6.6% on the year

Jack Henry & Associates Inc. (JKHY) reported revenue of $2.2 billion for fiscal 2024, the year ended 30 June 2024, up 6.6% on the year before. Net income was $382 million, up 4.1%, and diluted earnings per share $5.23. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2024.

Revenue

$2.2 billion

+6.6% on the year

FY2017FY2024

Operating margin

22.1%

23.1% a year earlier

FY2017FY2024

Net income

$382 million

+4.1% on the year

FY2017FY2024

Diluted EPS

$5.23

+4.2% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,216	2,078	1,943	+6.6%
Cost of revenue	1,299	1,219	1,129	+6.6%
Gross profit	916	859	814	+6.7%
Gross margin	41.3%	41.3%	41.9%
Research and development	148	143	121	+3.9%
Selling, general and administrative	278	235	218	+18.3%
Operating income	489	481	475	+1.8%
Operating margin	22.1%	23.1%	24.4%
Interest expense	n/a	15.1	2.4
Pre-tax income	498	475	472	+4.9%
Income tax	116	108	109	+7.7%
Effective tax rate	23.3%	22.7%	23.2%
Net income	382	367	363	+4.1%
Net margin	17.2%	17.6%	18.7%
Diluted EPS	$5.23	$5.02	$4.94	+4.2%

$ 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	568	382	505	+48.9%
Capital expenditure	58.1	39.2	34.7	+48.3%
Free cash flow	510	342	470	+48.9%
Free cash flow margin	23.0%	16.5%	24.2%
Cash from investing	-240	-410	-196
Cash from financing	-302	-8.4	-310
Depreciation	46.3	48.7	50.8	-4.9%
Share-based compensation	28.9	28.6	24.8	+0.9%
Buybacks	28.1	25.0	194	+12.2%
Dividends paid	156	147	139	+5.9%
Dividend per share	$2.14	$2.02	$1.90	+5.9%
Diluted shares, weighted	73m	73m	73m	-0.1%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,842	1,609	1,382	+14.5%
Debt	150	275	115	-45.5%
Operating lease liabilities	51.1	40.5	40.8	+26.3%
Other liabilities	881	850	918	+3.7%
Total liabilities and equity	2,924	2,774	2,456	+5.4%
Fixed assets	215	206	212	+4.6%
Goodwill	805	805	687	0.0%
Cash and equivalents	38.3	12.2	48.8	+212.7%
Receivables	333	361	348	-7.8%
Other assets	1,533	1,390	1,160	+10.3%
Total assets	2,924	2,774	2,456	+5.4%

10-K for the year ended 30 June 2024, filed 26 August 2024: the filing.