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Tyson Foods (TSN) FY2022 results: revenue $53.3 billion, up 13.2% on the year

Tyson Foods, Inc. (TSN) reported revenue of $53.3 billion for fiscal 2022, the year ended 1 October 2022, up 13.2% on the year before. Net income was $3.2 billion, up 6.3%, and diluted earnings per share $8.92. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2022.

Revenue
$53.3 billion
+13.2% on the year
FY2015FY2022
Operating margin
8.3%
9.3% a year earlier
FY2015FY2022
Net income
$3.2 billion
+6.3% on the year
FY2015FY2022
Diluted EPS
$8.92
+7.0% on the year
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue53,28247,04943,185+13.2%
Cost of revenue46,61440,52337,801+15.0%
Gross profit6,6686,5265,384+2.2%
Gross margin12.5%13.9%12.5%
Research and development10811498.0-5.3%
Selling, general and administrative2,2582,1302,376+6.0%
Operating income4,4104,3963,008+0.3%
Operating margin8.3%9.3%7.0%
Interest expense365n/an/a
Pre-tax income4,1494,0412,664+2.7%
Income tax900981593-8.3%
Effective tax rate21.7%24.3%22.3%
Net income3,2383,0472,061+6.3%
Net margin6.1%6.5%4.8%
Diluted EPS$8.92$8.34$5.64+7.0%
$ 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

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow2,6873,8403,874-30.0%
Capital expenditure1,8871,2091,199+56.1%
Free cash flow8002,6312,675-69.6%
Free cash flow margin1.5%5.6%6.2%
Cash from investing-1,93558.0-1,423
Cash from financing-2,323-2,731-1,468
Depreciation and amortisation1,1911,1951,178-0.3%
Share-based compensation93.091.089.0+2.2%
Buybacksn/an/a207
Dividends paid653636601+2.7%
Diluted shares, weighted363m365m365m-0.5%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity19,70217,72315,254+11.2%
Non-controlling interest109131132-16.8%
Debt8,3219,34811,339-11.0%
Operating lease liabilities350368368-4.9%
Other liabilities8,3398,7397,363-4.6%
Total liabilities and equity36,82136,30934,456+1.4%
Fixed assets8,6857,8377,596+10.8%
Goodwill10,51310,54910,899-0.3%
Intangible assets6,2526,5196,774-4.1%
Cash and equivalents1,0312,5071,420-58.9%
Receivables2,5772,4001,952+7.4%
Inventory5,5144,3823,859+25.8%
Other assets2,2492,1151,956+6.3%
Total assets36,82136,30934,456+1.4%

10-K for the year ended 1 October 2022, filed 14 November 2022: the filing.