Tyson Foods (TSN) FY2019 results: revenue $42.4 billion, up 5.9% on the year
Tyson Foods, Inc. (TSN) reported revenue of $42.4 billion for fiscal 2019, the year ended 28 September 2019, up 5.9% on the year before. Net income was $2.0 billion, down 33.3%, and diluted earnings per share $5.40. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2019.
Revenue
$42.4 billion
+5.9% on the year
FY2012FY2019
Operating margin
6.5%
7.4% a year earlier
FY2012FY2019
Net income
$2.0 billion
-33.3% on the year
FY2012FY2019
Diluted EPS
$5.40
-32.8% 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
42,405
40,052
38,260
+5.9%
Cost of revenue
37,383
34,926
33,177
+7.0%
Gross profit
5,022
5,096
5,062
-1.5%
Gross margin
11.8%
12.7%
13.2%
Research and development
97.0
114
113
-14.9%
Selling, general and administrative
2,252
2,127
2,141
+5.9%
Operating income
2,770
2,969
2,921
-6.7%
Operating margin
6.5%
7.4%
7.6%
Pre-tax income
2,374
2,682
2,628
-11.5%
Income tax
381
-291
850
Effective tax rate
16.0%
-10.9%
32.3%
Net income
1,980
2,970
1,774
-33.3%
Net margin
4.7%
7.4%
4.6%
Diluted EPS
$5.40
$8.04
$4.79
-32.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,513
2,963
2,599
-15.2%
Capital expenditure
1,259
1,200
1,069
+4.9%
Free cash flow
1,254
1,763
1,530
-28.9%
Free cash flow margin
3.0%
4.4%
4.0%
Cash from investing
-3,464
-1,906
-4,164
Cash from financing
1,171
-1,102
1,530
Depreciation and amortisation
1,086
933
748
+16.4%
Share-based compensation
77.0
69.0
92.0
+11.6%
Buybacks
252
427
860
-41.0%
Dividends paid
537
431
319
+24.6%
Diluted shares, weighted
366m
369m
370m
-0.8%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
13,950
12,803
10,541
+9.0%
Non-controlling interest
144
8.0
18.0
+1,700.0%
Debt
11,932
9,873
10,203
+20.9%
Other liabilities
6,892
6,303
7,304
+9.3%
Total liabilities and equity
32,918
28,987
28,066
+13.6%
Fixed assets
7,282
6,169
5,568
+18.0%
Goodwill
10,844
9,739
9,324
+11.3%
Intangible assets
7,037
6,759
6,243
+4.1%
Cash and equivalents
484
270
318
+79.3%
Receivables
2,173
1,723
1,675
+26.1%
Inventory
3,929
3,513
3,239
+11.8%
Other assets
1,169
814
1,699
+43.6%
Total assets
32,918
28,987
28,066
+13.6%
10-K for the year ended 28 September 2019, filed 12 November 2019: the filing.