Take-Two Interactive Software (TTWO) FY2021 results: revenue $3.4 billion, up 9.2% on the year
Take-Two Interactive Software, Inc. (TTWO) reported revenue of $3.4 billion for fiscal 2021, the year ended 31 March 2021, up 9.2% on the year before. Net income was $589 million, up 45.6%, and diluted earnings per share $5.09. The figures are the company's own, from the 10-K it filed with the SEC on 19 May 2021.
Revenue
$3.4 billion
+9.2% on the year
FY2014FY2021
Operating margin
18.7%
13.8% a year earlier
FY2014FY2021
Net income
$589 million
+45.6% on the year
FY2014FY2021
Diluted EPS
$5.09
+43.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
3,373
3,089
2,668
+9.2%
Cost of revenue
1,535
1,542
1,524
-0.5%
Gross profit
1,838
1,547
1,145
+18.8%
Gross margin
54.5%
50.1%
42.9%
Operating income
629
425
207
+48.0%
Operating margin
18.7%
13.8%
7.7%
Pre-tax income
678
458
233
+47.9%
Income tax
88.9
54.0
-101
+64.7%
Effective tax rate
13.1%
11.8%
-43.4%
Net income
589
404
334
+45.6%
Net margin
17.5%
13.1%
12.5%
Diluted EPS
$5.09
$3.54
$2.90
+43.8%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
912
686
844
+33.1%
Capital expenditure
68.9
53.4
67.0
+29.1%
Free cash flow
843
632
777
+33.4%
Free cash flow margin
25.0%
20.5%
29.1%
Cash from investing
-807
4.0
-224
Cash from financing
-57.3
-77.5
-464
Depreciation and amortisation
55.6
48.1
40.2
+15.6%
Share-based compensation
110
258
248
-57.2%
Buybacks
0.0
0.0
362
Diluted shares, weighted
116m
114m
115m
+1.4%
Shares outstanding at period end
115m
114m
112m
+1.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,332
2,539
2,041
+31.2%
Non-controlling interest
0.0
n/a
n/a
Debt
0.0
0.0
0.0
Operating lease liabilities
160
152
0.0
+5.0%
Other liabilities
2,537
2,258
2,202
+12.4%
Total liabilities and equity
6,028
4,949
4,243
+21.8%
Fixed assets
149
132
128
+13.3%
Goodwill
535
386
382
+38.5%
Intangible assets
122
51.3
73.1
+137.2%
Investments
1,309
644
744
+103.2%
Cash and equivalents
1,423
1,358
827
+4.8%
Receivables
553
593
396
-6.7%
Inventory
17.7
19.1
28.2
-7.1%
Other assets
1,920
1,766
1,665
+8.7%
Total assets
6,028
4,949
4,243
+21.8%
10-K for the year ended 31 March 2021, filed 19 May 2021: the filing.