Performance Food Group (PFGC) FY2021 results: revenue $30.4 billion, up 21.2% on the year
Performance Food Group Co. (PFGC) reported revenue of $30.4 billion for fiscal 2021, the year ended 3 July 2021, up 21.2% on the year before. Net income was $41 million, and diluted earnings per share $0.30. The figures are the company's own, from the 10-K it filed with the SEC on 24 August 2021.
Revenue
$30.4 billion
+21.2% on the year
FY2014FY2021
Operating margin
0.7%
-0.4% a year earlier
FY2014FY2021
Net income
$41 million
FY2014FY2021
Diluted EPS
$0.30
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
30,399
25,086
19,744
+21.2%
Cost of revenue
26,874
22,217
17,230
+21.0%
Gross profit
3,525
2,869
2,513
+22.9%
Gross margin
11.6%
11.4%
12.7%
Operating income
201
-99.0
283
Operating margin
0.7%
-0.4%
1.4%
Interest expense
152
117
65.4
+30.4%
Pre-tax income
54.7
-222
218
Income tax
14.0
-108
51.5
Effective tax rate
25.6%
n/a
23.6%
Net income
40.7
-114
167
Net margin
0.1%
-0.5%
0.8%
Diluted EPS
$0.30
-$1.01
$1.59
$ 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
64.6
624
317
-89.6%
Capital expenditure
189
158
139
+19.5%
Free cash flow
-124
466
178
Free cash flow margin
-0.4%
1.9%
0.9%
Cash from investing
-200
-2,146
-349
Cash from financing
-274
1,929
39.6
Depreciation and amortisation
339
276
155
+22.7%
Share-based compensation
25.4
17.9
15.7
+41.9%
Buybacks
0.0
5.0
9.3
Diluted shares, weighted
133m
113m
105m
+18.1%
Shares outstanding at period end
132m
131m
104m
+0.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,106
2,011
1,298
+4.7%
Debt
2,240
2,357
1,203
-4.9%
Operating lease liabilities
378
362
n/a
+4.3%
Finance lease liabilities
255
186
129
+37.3%
Other liabilities
2,866
2,804
2,024
+2.2%
Total liabilities and equity
7,846
7,720
4,654
+1.6%
Fixed assets
1,590
1,479
950
+7.5%
Goodwill
1,355
1,353
766
+0.1%
Intangible assets
796
919
194
-13.3%
Cash and equivalents
11.1
421
14.7
-97.4%
Receivables
1,580
1,259
1,227
+25.5%
Inventory
1,839
1,549
1,357
+18.7%
Other assets
674
740
144
-8.9%
Total assets
7,846
7,720
4,654
+1.6%
10-K for the year ended 3 July 2021, filed 24 August 2021: the filing.