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Teradata (TDC) FY2023 results: revenue $1.8 billion, up 2.1% on the year

Teradata Corp. (TDC) reported revenue of $1.8 billion for fiscal 2023, the year ended 31 December 2023, up 2.1% on the year before. Net income was $62 million, up 87.9%, and diluted earnings per share $0.61. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.

Revenue
$1.8 billion
+2.1% on the year
FY2016FY2023
Operating margin
10.1%
6.6% a year earlier
FY2016FY2023
Net income
$62 million
+87.9% on the year
FY2016FY2023
Diluted EPS
$0.61
+96.8% on the year
FY2016FY2023

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2023 · Q2 FY2023 · Q3 FY2023 · Q4 FY2023

Income statement (profit and loss)

$ millionFY2023FY2022FY2021On the yearLast 8 years
Revenue1,8331,7951,917+2.1%
Cost of revenue718714731+0.6%
Gross profit1,1151,0811,186+3.1%
Gross margin60.8%60.2%61.9%
Research and development294313309-6.1%
Selling, general and administrative635650646-2.3%
Operating income186118231+57.6%
Operating margin10.1%6.6%12.1%
Interest expense30.024.026.0+25.0%
Pre-tax income11767.0192+74.6%
Income tax55.034.045.0+61.8%
Effective tax rate47.0%50.7%23.4%
Net income62.033.0147+87.9%
Net margin3.4%1.8%7.7%
Diluted EPS$0.61$0.31$1.30+96.8%
$ 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

$ millionFY2023FY2022FY2021On the yearLast 8 years
Operating cash flow375419463-10.5%
Capital expenditure19.014.028.0+35.7%
Free cash flow356405435-12.1%
Free cash flow margin19.4%22.6%22.7%
Cash from investing-49.0-18.0-31.0
Cash from financing-383-381-356
Depreciation and amortisation116134149-13.4%
Share-based compensation1261261120.0%
Buybacks308387244-20.4%
Diluted shares, weighted102m106m113m-3.2%
Shares outstanding at period end98m101m107m-3.2%

Balance sheet

$ millionFY2023FY2022FY2021On the yearLast 8 years
Shareholders' equity135258460-47.7%
Debt499498412+0.2%
Operating lease liabilities6.010.018.0-40.0%
Finance lease liabilities63.054.053.0+16.7%
Other liabilities1,1701,2021,226-2.7%
Total liabilities and equity1,8732,0222,169-7.4%
Goodwill398390396+2.1%
Intangible assets68.092.0111-26.1%
Cash and equivalents486569592-14.6%
Receivables286364336-21.4%
Inventory13.08.026.0+62.5%
Other assets622599708+3.8%
Total assets1,8732,0222,169-7.4%

10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.