TJX FY 2008 Earnings Report — The TJX Companies, Inc. Revenue & Financial Results | Market Cap Arena

The TJX Companies, Inc.TJX

FY 2008 Earnings

Reported March 25, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$18.3B	—	$17.1B	—	7.2%
Op. Income	$1.3B	—	$1.3B	—	-1.7%
Gross Margin	24.5%	—	24.2%	—	0.3pp
Net Margin	4.2%	—	4.3%	—	-0.1pp
EPS (Diluted)	$0.42	—	$0.39	—	7.7%
Free Cash Flow	$834M	—	$817M	—	2.1%

Revenue Flow

Item	Amount
REVENUE	$18.3B
Cost of Revenue	$13.8B
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.2B
Other Expenses	$0
Operating Expenses	$3.2B
Cost & Expenses	$17.1B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$478M
Net Income from Continuing Ops	$782M
Net Income from Discontinued Ops	-$11M
Other Adjustments	$0
NET INCOME	$772M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$772M
D&A	$427M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$18.3B
Cost of Revenue	$13.8B
GROSS PROFIT	$4.5B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$3.2B
Other Expenses	$0
Operating Expenses	$3.2B
Cost & Expenses	$17.1B
OPERATING INCOME	$1.3B
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$478M
Net Income from Continuing Ops	$782M
Net Income from Discontinued Ops	-$11M
Other Adjustments	$0
NET INCOME	$772M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$772M
D&A	$427M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$772M
Depreciation & Amortization	$427M
Stock-Based Compensation	$57M
Deferred Income Tax	-$102M
Other Non-Cash Items	-$15M
Change in Working Capital	$222M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$527M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$753.0K
NET CASH FROM INVESTING	-$526M
Net Debt Issuance	-$2M
Common Stock Repurchased	-$940M
Common Dividends Paid	-$151M
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$953M
FREE CASH FLOW	$834M
Net Change in Cash	-$124M

Balance Sheet

Item	Amount
Cash & Equivalents	$733M
Short-Term Investments	$0
Net Receivables	$143M
Inventory	$2.7B
Other Current Assets	$163M
TOTAL CURRENT ASSETS	$4.0B
PP&E (Net)	$2.2B
Goodwill	$182M
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$163M
Other Non-Current Assets	$191M
TOTAL NON-CURRENT ASSETS	$2.6B
TOTAL ASSETS	$6.6B
Account Payables	$1.5B
Short-Term Debt	$2M
Deferred Revenue	$0
Other Current Liabilities	$323M
TOTAL CURRENT LIABILITIES	$2.8B
Long-Term Debt	$833M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$43M
Other Non-Current Liabilities	$811M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$4.5B
Common Stock	$428M
Additional Paid-In Capital	$0
Retained Earnings	$1.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$29M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$6.6B
Total Debt	$855M
Net Debt	$123M