TJX Companies (TJX) FY2018 results: revenue $35.9 billion, up 8.1% on the year
TJX Companies Inc. (TJX) reported revenue of $35.9 billion for fiscal 2018, the year ended 3 February 2018, up 8.1% on the year before. Net income was $2.6 billion, up 13.5%, and diluted earnings per share $2.02. The figures are the company's own, from the 10-K it filed with the SEC on 4 April 2018.
Revenue
$35.9 billion
+8.1% on the year
FY2011FY2018
Operating margin
12.3%
12.8% a year earlier
FY2011FY2018
Net income
$2.6 billion
+13.5% on the year
FY2011FY2018
Diluted EPS
$2.02
+16.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
35,865
33,184
30,945
+8.1%
Cost of revenue
25,502
23,566
n/a
+8.2%
Gross profit
10,362
9,618
n/a
+7.7%
Gross margin
28.9%
29.0%
n/a
Selling, general and administrative
6,375
5,768
5,206
+10.5%
Operating income
4,403
4,258
4,100
+3.4%
Operating margin
12.3%
12.8%
13.3%
Interest expense
69.2
69.2
68.3
+0.0%
Pre-tax income
3,857
3,723
3,658
+3.6%
Income tax
1,249
1,425
1,381
-12.4%
Effective tax rate
32.4%
38.3%
37.7%
Net income
2,608
2,298
2,278
+13.5%
Net margin
7.3%
6.9%
7.4%
Diluted EPS
$2.02
$1.73
$1.67
+16.8%
$ 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
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
3,026
3,627
2,957
-16.6%
Capital expenditure
1,058
1,025
889
+3.2%
Free cash flow
1,968
2,602
2,068
-24.4%
Free cash flow margin
5.5%
7.8%
6.7%
Cash from investing
-1,013
-1,215
n/a
Cash from financing
-2,297
-1,587
n/a
Depreciation and amortisation
726
659
617
+10.2%
Share-based compensation
101
102
94.1
-0.9%
Buybacks
1,645
1,700
1,828
-3.3%
Dividends paid
764
651
544
+17.4%
Dividend per share
$0.62
$0.52
$0.42
+20.2%
Diluted shares, weighted
1,292m
1,329m
1,367m
-2.8%
Shares outstanding at period end
1,256m
1,293m
1,327m
-2.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,148
4,511
4,307
+14.1%
Debt
2,231
2,228
1,620
+0.1%
Other liabilities
6,679
6,146
5,572
+8.7%
Total liabilities and equity
14,058
12,884
11,499
+9.1%
Fixed assets
5,006
4,533
4,138
+10.4%
Goodwill
100
196
194
-48.9%
Investments
506
543
352
-6.8%
Cash and equivalents
2,758
2,930
2,095
-5.8%
Receivables
327
259
238
+26.4%
Inventory
4,187
3,645
3,695
+14.9%
Other assets
1,173
778
787
+50.7%
Total assets
14,058
12,884
11,499
+9.1%
10-K for the year ended 3 February 2018, filed 4 April 2018: the filing.