ERIC FY 2021 Earnings Report — Telefonaktiebolaget LM Ericsson (publ) Revenue & Financial Results | Market Cap Arena

Telefonaktiebolaget LM Ericsson (publ)ERIC

FY 2021 Earnings

Reported March 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$26.4B	—	$22.4B	—	18.1%
Op. Income	$3.7B	—	$2.8B	—	30.5%
Gross Margin	43.5%	—	40.6%	—	2.8pp
Net Margin	9.8%	—	7.5%	—	2.2pp
EPS (Diluted)	$0.78	—	$0.51	—	53.2%
Free Cash Flow	$4.0B	—	$2.4B	—	71.2%

Revenue Flow

Item	Amount
REVENUE	$26.4B
Cost of Revenue	$14.9B
GROSS PROFIT	$11.5B
R&D Expenses	$4.8B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.0B
Other Expenses	$0
Operating Expenses	$7.8B
Cost & Expenses	$22.7B
OPERATING INCOME	$3.7B
Interest Income	$41M
Interest Expense	$198M
Other Income/Expenses	-$384M
INCOME BEFORE TAX	$3.3B
Income Tax Expense	$714M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.6B
D&A	$810M
EBIT	$3.6B
EBITDA	$4.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$26.4B
Cost of Revenue	$14.9B
GROSS PROFIT	$11.5B
R&D Expenses	$4.8B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.0B
Other Expenses	$0
Operating Expenses	$7.8B
Cost & Expenses	$22.7B
OPERATING INCOME	$3.7B
Interest Income	$41M
Interest Expense	$198M
Other Income/Expenses	-$384M
INCOME BEFORE TAX	$3.3B
Income Tax Expense	$714M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.6B
D&A	$810M
EBIT	$3.6B
EBITDA	$4.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.6B
Depreciation & Amortization	$810M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$598M
Change in Working Capital	$456M
OPERATING CASH FLOW	$4.4B
Capital Expenditure	-$417M
Acquisitions (Net)	$20M
Purchases of Investments	-$4.0B
Sales/Maturities of Investments	$2.3B
Other Investing Activities	-$15M
NET CASH FROM INVESTING	-$2.3B
Net Debt Issuance	$238M
Common Stock Repurchased	$0
Common Dividends Paid	-$784M
Other Financing Activities	-$518M
NET CASH FROM FINANCING	-$1.1B
FREE CASH FLOW	$4.0B
Net Change in Cash	$644M

Balance Sheet

Item	Amount
Cash & Equivalents	$5.8B
Short-Term Investments	$1.4B
Net Receivables	$7.5B
Inventory	$3.8B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$18.9B
PP&E (Net)	$2.3B
Goodwill	$4.1B
Intangible Assets	$794M
Long-Term Investments	$4.4B
Tax Assets	$2.7B
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$14.3B
TOTAL ASSETS	$33.2B
Account Payables	$3.9B
Short-Term Debt	$1.3B
Deferred Revenue	$3.5B
Other Current Liabilities	$3.1B
TOTAL CURRENT LIABILITIES	$13.7B
Long-Term Debt	$2.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$303M
Other Non-Current Liabilities	$4.5B
TOTAL NON-CURRENT LIABILITIES	$7.9B
TOTAL LIABILITIES	$21.6B
Common Stock	$1.8B
Additional Paid-In Capital	$2.7B
Retained Earnings	$7.2B
Treasury Stock	$0
Accum. Other Comp. Income	$49M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.7B
Minority Interest	-$181M
TOTAL EQUITY	$11.6B
TOTAL LIABILITIES & EQUITY	$33.2B
Total Debt	$4.4B
Net Debt	-$1.4B