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Williams Sonoma (WSM) FY2024 results: revenue $7.7 billion, down 0.5% on the year

Williams Sonoma Inc. (WSM) reported revenue of $7.7 billion for fiscal 2024, the year ended 2 February 2025, down 0.5% on the year before. Net income was $1.1 billion, up 18.5%, and diluted earnings per share $8.79. The figures are the company's own, from the 10-K it filed with the SEC on 27 March 2025.

Revenue
$7.7 billion
-0.5% on the year
FY2017FY2024
Operating margin
18.5%
16.1% a year earlier
FY2017FY2024
Net income
$1.1 billion
+18.5% on the year
FY2017FY2024
Diluted EPS
$8.79
+20.8% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue7,7127,7518,674-0.5%
Cost of revenue4,1294,447n/a-7.1%
Gross profit3,5823,3043,678+8.4%
Gross margin46.5%42.6%42.4%
Selling, general and administrative2,1522,0592,179+4.5%
Operating income1,4301,2441,498+14.9%
Operating margin18.5%16.1%17.3%
Pre-tax income1,4861,2731,501+16.7%
Income tax360324373+11.4%
Effective tax rate24.3%25.4%24.8%
Net income1,1259501,128+18.5%
Net margin14.6%12.3%13.0%
Diluted EPS$8.79$7.28$8.16+20.8%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow1,3601,6801,053-19.0%
Capital expenditure222188354+17.6%
Free cash flow1,1391,492699-23.7%
Free cash flow margin14.8%19.2%8.1%
Cash from investing-221-188-354
Cash from financing-1,184-598-1,179
Depreciation and amortisation230233214-1.2%
Share-based compensation99.084.890.3+16.8%
Buybacks807313880+158.0%
Dividends paid280232217+20.5%
Dividend per share$2.28$1.80$1.56+26.7%
Diluted shares, weighted128m131m138m-1.9%
Shares outstanding at period end123m128m132m-4.0%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity2,1422,1281,701+0.7%
Debt0.00.00.0
Operating lease liabilities1,1131,1561,212-3.7%
Other liabilities2,0461,9901,750+2.8%
Total liabilities and equity5,3025,2744,663+0.5%
Fixed assets1,0341,0131,065+2.0%
Goodwill77.377.377.3-0.1%
Cash and equivalents1,2131,262367-3.9%
Receivables118123116-4.3%
Inventory1,3321,2461,456+6.9%
Other assets1,5271,5521,581-1.6%
Total assets5,3025,2744,663+0.5%

10-K for the year ended 2 February 2025, filed 27 March 2025: the filing.