Telephone & Data Systems (TDS) FY2021 results: revenue $5.3 billion, up 2.0% on the year
Telephone & Data Systems Inc. (TDS) reported revenue of $5.3 billion for fiscal 2021, the year ended 31 December 2021, up 2.0% on the year before. Net income was $156 million, down 31.0%, and diluted earnings per share $1.00. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.
Revenue
$5.3 billion
+2.0% on the year
FY2014FY2021
Operating margin
4.9%
5.0% a year earlier
FY2014FY2021
Net income
$156 million
-31.0% on the year
FY2014FY2021
Diluted EPS
$1.00
-48.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
1,103
1,532
1,016
-28.0%
Capital expenditure
1,131
1,338
957
-15.5%
Free cash flow
-28.0
194
59.0
Free cash flow margin
-0.5%
3.7%
1.1%
Cash from investing
-2,462
-1,511
-1,249
Cash from financing
321
957
-220
-66.5%
Depreciation and amortisation
851
862
890
-1.3%
Share-based compensation
49.0
53.0
59.0
-7.5%
Buybacks
8.0
14.0
0.0
-42.9%
Dividends paid
119
78.0
75.0
+52.6%
Dividend per share
$0.70
$0.68
$0.66
+2.9%
Diluted shares, weighted
116m
115m
116m
+0.9%
Shares outstanding at period end
115m
114m
115m
+0.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
5,927
4,804
4,653
+23.4%
Non-controlling interest
807
789
751
+2.3%
Redeemable equity
6.0
6.0
5.0
0.0%
Debt
2,928
3,424
2,316
-14.5%
Operating lease liabilities
960
940
931
+2.1%
Other liabilities
2,865
2,562
2,125
+11.8%
Total liabilities and equity
13,493
12,525
10,781
+7.7%
Fixed assets
4,361
3,972
3,527
+9.8%
Goodwill
547
547
547
0.0%
Intangible assets
197
213
239
-7.5%
Investments
0.0
3.0
0.0
Cash and equivalents
367
1,429
465
-74.3%
Receivables
1,058
1,004
1,005
+5.4%
Inventory
178
154
169
+15.6%
Other assets
6,785
5,203
4,829
+30.4%
Total assets
13,493
12,525
10,781
+7.7%
10-K for the year ended 31 December 2021, filed 17 February 2022: the filing.