Teradata (TDC) FY2021 results: revenue $1.9 billion, up 4.4% on the year

Teradata Corp. (TDC) reported revenue of $1.9 billion for fiscal 2021, the year ended 31 December 2021, up 4.4% on the year before. Net income was $147 million, up 14.0%, and diluted earnings per share $1.30. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.

Revenue

$1.9 billion

+4.4% on the year

FY2014FY2021

Operating margin

12.1%

0.9% a year earlier

FY2014FY2021

Net income

$147 million

+14.0% on the year

FY2014FY2021

Diluted EPS

$1.30

+12.1% on the year

FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	1,917	1,836	1,899	+4.4%
Cost of revenue	731	817	944	-10.5%
Gross profit	1,186	1,019	955	+16.4%
Gross margin	61.9%	55.5%	50.3%
Research and development	309	334	327	-7.5%
Selling, general and administrative	646	669	618	-3.4%
Operating income	231	16.0	10.0	+1,343.8%
Operating margin	12.1%	0.9%	0.5%
Interest expense	26.0	27.0	26.0	-3.7%
Pre-tax income	192	-24.0	-13.0
Income tax	45.0	-153	7.0
Effective tax rate	23.4%	n/a	n/a
Net income	147	129	-20.0	+14.0%
Net margin	7.7%	7.0%	-1.1%
Diluted EPS	$1.30	$1.16	-$0.18	+12.1%

$ 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	FY2021	FY2020	FY2019	On the year
Operating cash flow	463	267	148	+73.4%
Capital expenditure	28.0	44.0	54.0	-36.4%
Free cash flow	435	223	94.0	+95.1%
Free cash flow margin	22.7%	12.1%	4.9%
Cash from investing	-31.0	-51.0	-59.0
Cash from financing	-356	-186	-308
Depreciation and amortisation	149	172	150	-13.4%
Share-based compensation	112	101	83.0	+10.9%
Buybacks	244	100	300	+144.0%
Diluted shares, weighted	113m	112m	114m	+1.2%
Shares outstanding at period end	107m	109m	111m	-1.5%

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	460	400	262	+15.0%
Debt	412	455	479	-9.5%
Operating lease liabilities	18.0	28.0	38.0	-35.7%
Finance lease liabilities	53.0	70.0	75.0	-24.3%
Other liabilities	1,226	1,240	1,203	-1.1%
Total liabilities and equity	2,169	2,193	2,057	-1.1%
Goodwill	396	401	396	-1.2%
Intangible assets	111	98.0	91.0	+13.3%
Cash and equivalents	592	529	494	+11.9%
Receivables	336	331	398	+1.5%
Inventory	26.0	29.0	31.0	-10.3%
Other assets	708	805	647	-12.0%
Total assets	2,169	2,193	2,057	-1.1%

10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.