TJX Companies (TJX) FY2020 results: revenue $41.7 billion, up 7.0% on the year
TJX Companies Inc. (TJX) reported revenue of $41.7 billion for fiscal 2020, the year ended 1 February 2020, up 7.0% on the year before. Net income was $3.3 billion, up 6.9%, and diluted earnings per share $2.67. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2020.
Revenue
$41.7 billion
+7.0% on the year
FY2013FY2020
Operating margin
n/a
12.2% a year earlier
FY2013FY2020
Net income
$3.3 billion
+6.9% on the year
FY2013FY2020
Diluted EPS
$2.67
+9.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
41,717
38,973
35,865
+7.0%
Cost of revenue
29,846
27,831
25,502
+7.2%
Gross profit
11,871
11,142
10,362
+6.5%
Gross margin
28.5%
28.6%
28.9%
Selling, general and administrative
7,455
6,924
6,375
+7.7%
Operating income
n/a
4,763
4,403
Operating margin
n/a
12.2%
12.3%
Interest expense
61.4
69.1
69.2
-11.1%
Pre-tax income
4,406
4,173
3,857
+5.6%
Income tax
1,134
1,113
1,249
+1.8%
Effective tax rate
25.7%
26.7%
32.4%
Net income
3,272
3,060
2,608
+6.9%
Net margin
7.8%
7.9%
7.3%
Diluted EPS
$2.67
$2.43
$2.02
+9.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
4,067
4,088
3,026
-0.5%
Capital expenditure
1,223
1,125
1,058
+8.7%
Free cash flow
2,843
2,963
1,968
-4.0%
Free cash flow margin
6.8%
7.6%
5.5%
Cash from investing
-1,462
-624
-1,013
Cash from financing
-2,415
-3,097
-2,297
Depreciation and amortisation
867
820
726
+5.8%
Share-based compensation
125
104
101
+20.7%
Buybacks
1,552
2,407
1,645
-35.5%
Dividends paid
1,072
923
764
+16.1%
Dividend per share
$0.92
$0.78
$0.62
+17.9%
Diluted shares, weighted
1,227m
1,259m
1,292m
-2.6%
Shares outstanding at period end
1,199m
1,217m
1,256m
-1.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,948
5,049
5,148
+17.8%
Debt
2,237
2,234
2,231
+0.1%
Operating lease liabilities
7,817
n/a
n/a
Other liabilities
8,144
7,044
6,679
+15.6%
Total liabilities and equity
24,145
14,326
14,058
+68.5%
Fixed assets
5,325
5,255
5,006
+1.3%
Goodwill
95.5
97.6
100
-2.1%
Investments
n/a
0.0
506
Cash and equivalents
3,217
3,030
2,758
+6.2%
Receivables
386
346
327
+11.5%
Inventory
4,873
4,579
4,187
+6.4%
Other assets
10,249
1,018
1,173
+907.0%
Total assets
24,145
14,326
14,058
+68.5%
10-K for the year ended 1 February 2020, filed 27 March 2020: the filing.