Resmed (RMD) FY2021 results: revenue $3.2 billion, up 8.1% on the year
Resmed Inc. (RMD) reported revenue of $3.2 billion for fiscal 2021, the year ended 30 June 2021, up 8.1% on the year before. Net income was $475 million, down 23.7%, and diluted earnings per share $3.24. The figures are the company's own, from the 10-K it filed with the SEC on 17 August 2021.
Revenue
$3.2 billion
+8.1% on the year
FY2014FY2021
Operating margin
28.3%
27.4% a year earlier
FY2014FY2021
Net income
$475 million
-23.7% on the year
FY2014FY2021
Diluted EPS
$3.24
-24.1% 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
3,197
2,957
2,607
+8.1%
Cost of revenue
1,358
1,239
1,113
+9.6%
Gross profit
1,839
1,718
1,494
+7.1%
Gross margin
57.5%
58.1%
57.3%
Research and development
225
202
181
+11.6%
Selling, general and administrative
670
677
645
-0.9%
Operating income
904
810
579
+11.6%
Operating margin
28.3%
27.4%
22.2%
Interest expense
24.0
40.4
36.2
-40.6%
Pre-tax income
884
733
519
+20.5%
Income tax
409
111
114
+267.2%
Effective tax rate
46.3%
15.2%
22.0%
Net income
475
622
405
-23.7%
Net margin
14.8%
21.0%
15.5%
Diluted EPS
$3.24
$4.27
$2.80
-24.1%
$ 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
737
802
459
-8.2%
Capital expenditure
103
95.3
68.7
+7.7%
Free cash flow
634
707
390
-10.3%
Free cash flow margin
19.8%
23.9%
15.0%
Cash from investing
-158
-180
-1,076
Cash from financing
-765
-317
581
Depreciation and amortisation
157
155
151
+1.2%
Share-based compensation
63.9
57.6
52.1
+11.1%
Buybacks
n/a
n/a
22.8
Dividends paid
227
225
212
+0.7%
Dividend per share
$1.56
$1.56
$1.48
0.0%
Diluted shares, weighted
146m
146m
144m
+0.5%
Shares outstanding at period end
146m
145m
144m
+0.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,886
2,497
2,072
+15.6%
Debt
655
1,176
1,271
-44.3%
Operating lease liabilities
115
102
n/a
+12.7%
Other liabilities
1,072
812
765
+32.0%
Total liabilities and equity
4,728
4,587
4,108
+3.1%
Fixed assets
463
417
387
+11.1%
Goodwill
1,928
1,890
1,856
+2.0%
Intangible assets
393
448
522
-12.4%
Cash and equivalents
295
463
147
-36.2%
Receivables
614
475
528
+29.4%
Inventory
457
417
350
+9.6%
Other assets
578
477
317
+21.1%
Total assets
4,728
4,587
4,108
+3.1%
10-K for the year ended 30 June 2021, filed 17 August 2021: the filing.