TJX Companies (TJX) FY2019 results: revenue $39.0 billion, up 8.7% on the year
TJX Companies Inc. (TJX) reported revenue of $39.0 billion for fiscal 2019, the year ended 2 February 2019, up 8.7% on the year before. Net income was $3.1 billion, up 17.3%, and diluted earnings per share $2.43. The figures are the company's own, from the 10-K it filed with the SEC on 3 April 2019.
Revenue
$39.0 billion
+8.7% on the year
FY2012FY2019
Operating margin
12.2%
12.3% a year earlier
FY2012FY2019
Net income
$3.1 billion
+17.3% on the year
FY2012FY2019
Diluted EPS
$2.43
+20.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
38,973
35,865
33,184
+8.7%
Cost of revenue
27,831
25,502
23,566
+9.1%
Gross profit
11,142
10,362
9,618
+7.5%
Gross margin
28.6%
28.9%
29.0%
Selling, general and administrative
6,924
6,375
5,768
+8.6%
Operating income
4,763
4,403
4,258
+8.2%
Operating margin
12.2%
12.3%
12.8%
Interest expense
69.1
69.2
69.2
-0.2%
Pre-tax income
4,173
3,857
3,723
+8.2%
Income tax
1,113
1,249
1,425
-10.8%
Effective tax rate
26.7%
32.4%
38.3%
Net income
3,060
2,608
2,298
+17.3%
Net margin
7.9%
7.3%
6.9%
Diluted EPS
$2.43
$2.02
$1.73
+20.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,088
3,026
3,627
+35.1%
Capital expenditure
1,125
1,058
1,025
+6.4%
Free cash flow
2,963
1,968
2,602
+50.6%
Free cash flow margin
7.6%
5.5%
7.8%
Cash from investing
-624
-1,013
-1,215
Cash from financing
-3,097
-2,297
-1,587
Depreciation and amortisation
820
726
659
+12.9%
Share-based compensation
104
101
102
+2.2%
Buybacks
2,407
1,645
1,700
+46.4%
Dividends paid
923
764
651
+20.8%
Dividend per share
$0.78
$0.62
$0.52
+24.8%
Diluted shares, weighted
1,259m
1,292m
1,329m
-2.6%
Shares outstanding at period end
1,217m
1,256m
1,293m
-3.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
5,049
5,148
4,511
-1.9%
Debt
2,234
2,231
2,228
+0.1%
Other liabilities
7,044
6,679
6,146
+5.5%
Total liabilities and equity
14,326
14,058
12,884
+1.9%
Fixed assets
5,255
5,006
4,533
+5.0%
Goodwill
97.6
100
196
-2.5%
Investments
0.0
506
543
Cash and equivalents
3,030
2,758
2,930
+9.9%
Receivables
346
327
259
+5.8%
Inventory
4,579
4,187
3,645
+9.4%
Other assets
1,018
1,173
778
-13.2%
Total assets
14,326
14,058
12,884
+1.9%
10-K for the year ended 2 February 2019, filed 3 April 2019: the filing.