TE Connectivity (TEL) FY2023 results: revenue $16.0 billion, down 1.5% on the year
TE Connectivity plc (TEL) reported revenue of $16.0 billion for fiscal 2023, the year ended 29 September 2023, down 1.5% on the year before. Net income was $1.9 billion, down 21.3%, and diluted earnings per share $6.03. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2023.
Revenue
$16.0 billion
-1.5% on the year
FY2016FY2023
Operating margin
14.4%
16.9% a year earlier
FY2016FY2023
Net income
$1.9 billion
-21.3% on the year
FY2016FY2023
Diluted EPS
$6.03
-19.3% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,132
2,468
2,676
+26.9%
Capital expenditure
732
768
690
-4.7%
Free cash flow
2,400
1,700
1,986
+41.2%
Free cash flow margin
15.0%
10.4%
13.3%
Cash from investing
-768
-878
-1,037
Cash from financing
-1,793
-1,684
-1,386
Depreciation and amortisation
794
785
769
+1.1%
Share-based compensation
123
119
94.0
+3.4%
Buybacks
945
1,412
831
-33.1%
Dividends paid
725
685
647
+5.8%
Dividend per share
$2.30
$2.12
$1.96
+8.5%
Diluted shares, weighted
317m
325m
333m
-2.5%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
11,551
10,802
10,634
+6.9%
Redeemable equity
104
95.0
114
+9.5%
Debt
4,211
4,206
4,092
+0.1%
Operating lease liabilities
280
308
334
-9.1%
Other liabilities
5,566
5,371
6,288
+3.6%
Total liabilities and equity
21,712
20,782
21,462
+4.5%
Fixed assets
3,754
3,567
3,778
+5.2%
Goodwill
5,463
5,258
5,590
+3.9%
Intangible assets
1,175
1,288
1,549
-8.8%
Cash and equivalents
1,661
1,088
1,203
+52.7%
Receivables
2,967
2,865
2,928
+3.6%
Inventory
2,552
2,676
2,511
-4.6%
Other assets
4,140
4,040
3,903
+2.5%
Total assets
21,712
20,782
21,462
+4.5%
10-K for the year ended 29 September 2023, filed 13 November 2023: the filing.