Teradata (TDC) FY2022 results: revenue $1.8 billion, down 6.4% on the year

Teradata Corp. (TDC) reported revenue of $1.8 billion for fiscal 2022, the year ended 31 December 2022, down 6.4% on the year before. Net income was $33 million, down 77.6%, and diluted earnings per share $0.31. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2023.

Revenue

$1.8 billion

-6.4% on the year

FY2015FY2022

Operating margin

6.6%

12.1% a year earlier

FY2015FY2022

Net income

$33 million

-77.6% on the year

FY2015FY2022

Diluted EPS

$0.31

-76.2% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	1,795	1,917	1,836	-6.4%
Cost of revenue	714	731	817	-2.3%
Gross profit	1,081	1,186	1,019	-8.9%
Gross margin	60.2%	61.9%	55.5%
Research and development	313	309	334	+1.3%
Selling, general and administrative	650	646	669	+0.6%
Operating income	118	231	16.0	-48.9%
Operating margin	6.6%	12.1%	0.9%
Interest expense	24.0	26.0	27.0	-7.7%
Pre-tax income	67.0	192	-24.0	-65.1%
Income tax	34.0	45.0	-153	-24.4%
Effective tax rate	50.7%	23.4%	n/a
Net income	33.0	147	129	-77.6%
Net margin	1.8%	7.7%	7.0%
Diluted EPS	$0.31	$1.30	$1.16	-76.2%

$ 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	419	463	267	-9.5%
Capital expenditure	14.0	28.0	44.0	-50.0%
Free cash flow	405	435	223	-6.9%
Free cash flow margin	22.6%	22.7%	12.1%
Cash from investing	-18.0	-31.0	-51.0
Cash from financing	-381	-356	-186
Depreciation and amortisation	134	149	172	-10.1%
Share-based compensation	126	112	101	+12.5%
Buybacks	387	244	100	+58.6%
Diluted shares, weighted	106m	113m	112m	-6.3%
Shares outstanding at period end	101m	107m	109m	-5.7%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	258	460	400	-43.9%
Debt	498	412	455	+20.9%
Operating lease liabilities	10.0	18.0	28.0	-44.4%
Finance lease liabilities	54.0	53.0	70.0	+1.9%
Other liabilities	1,202	1,226	1,240	-2.0%
Total liabilities and equity	2,022	2,169	2,193	-6.8%
Goodwill	390	396	401	-1.5%
Intangible assets	92.0	111	98.0	-17.1%
Cash and equivalents	569	592	529	-3.9%
Receivables	364	336	331	+8.3%
Inventory	8.0	26.0	29.0	-69.2%
Other assets	599	708	805	-15.4%
Total assets	2,022	2,169	2,193	-6.8%

10-K for the year ended 31 December 2022, filed 24 February 2023: the filing.