Williams Sonoma (WSM) FY2020 results: revenue $6.8 billion, up 15.0% on the year
Williams Sonoma Inc. (WSM) reported revenue of $6.8 billion for fiscal 2020, the year ended 31 January 2021, up 15.0% on the year before. Net income was $681 million, up 91.2%, and diluted earnings per share $4.30. The figures are the company's own, from the 10-K it filed with the SEC on 30 March 2021.
Revenue
$6.8 billion
+15.0% on the year
FY2013FY2020
Operating margin
13.4%
7.9% a year earlier
FY2013FY2020
Net income
$681 million
+91.2% on the year
FY2013FY2020
Diluted EPS
$4.30
+91.8% 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
6,783
5,898
5,672
+15.0%
Gross profit
2,636
2,139
2,101
+23.2%
Gross margin
38.9%
36.3%
37.0%
Selling, general and administrative
1,726
1,673
1,665
+3.1%
Operating income
911
466
436
+95.5%
Operating margin
13.4%
7.9%
7.7%
Pre-tax income
894
457
429
+95.7%
Income tax
214
101
95.6
+111.7%
Effective tax rate
23.9%
22.1%
22.3%
Net income
681
356
334
+91.2%
Net margin
10.0%
6.0%
5.9%
Diluted EPS
$4.30
$2.25
$2.02
+91.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,275
607
586
+109.9%
Capital expenditure
170
186
190
-9.0%
Free cash flow
1,105
421
396
+162.5%
Free cash flow margin
16.3%
7.1%
7.0%
Cash from investing
-169
-186
-188
Cash from financing
-343
-327
-450
Depreciation and amortisation
189
188
189
+0.5%
Share-based compensation
73.2
64.2
59.8
+14.1%
Buybacks
150
149
295
+0.8%
Dividends paid
158
151
140
+4.7%
Dividend per share
$1.01
$0.96
$0.86
+5.2%
Diluted shares, weighted
158m
158m
165m
-0.2%
Shares outstanding at period end
153m
154m
158m
-1.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,651
1,236
1,156
+33.6%
Debt
299
300
300
-0.2%
Operating lease liabilities
1,025
1,095
n/a
-6.4%
Other liabilities
1,686
1,424
1,358
+18.4%
Total liabilities and equity
4,661
4,054
2,813
+15.0%
Fixed assets
874
929
930
-5.9%
Goodwill
85.4
85.3
85.4
+0.1%
Cash and equivalents
1,200
432
339
+177.8%
Receivables
144
112
107
+28.6%
Inventory
1,006
1,101
1,125
-8.6%
Other assets
1,352
1,395
227
-3.1%
Total assets
4,661
4,054
2,813
+15.0%
10-K for the year ended 31 January 2021, filed 30 March 2021: the filing.