Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 29,845.0 | 23,616.0 | 24,980.0 | 21,831.0 | 12,497.0 | 10,776.0 | 9,667.0 | 9,441.0 |
Revenue growth | 26.4% | -5.5% | 14.4% | 74.7% | 16.0% | 11.5% | 2.4% | 13.6% |
Cost of goods sold | 10,961.0 | 8,315.0 | 8,097.0 | 6,881.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Gross profit | 18,884.0 | 15,301.0 | 16,883.0 | 14,950.0 | 12,497.0 | 10,776.0 | 9,667.0 | 9,441.0 |
Gross margin | 63.3% | 64.8% | 67.6% | 68.5% | 100.0% | 100.0% | 100.0% | 100.0% |
Sales and marketing | 895.0 | 657.0 | 934.0 | 907.0 | 771.0 | 698.0 | 821.0 | 862.0 |
General and administrative | 7,087.0 | 5,910.0 | 5,763.0 | 5,174.0 | 4,653.0 | 3,827.0 | 3,341.0 | 3,152.0 |
EBITA | 10,600.0 | 8,457.0 | 9,949.0 | 8,660.0 | 6,889.0 | 6,099.0 | 5,374.0 | 5,320.0 |
EBITA margin | 35.5% | 35.8% | 39.8% | 39.7% | 55.1% | 56.6% | 55.6% | 56.3% |
Amortization of intangibles | 424.0 | 303.0 | 285.0 | 250.0 | 252.0 | 221.0 | 235.0 | 214.0 |
EBIT | 10,176.0 | 8,154.0 | 9,664.0 | 8,410.0 | 6,637.0 | 5,878.0 | 5,139.0 | 5,106.0 |
EBIT margin | 34.1% | 34.5% | 38.7% | 38.5% | 53.1% | 54.5% | 53.2% | 54.1% |
Pre-tax income | 10,307.0 | 7,760.0 | 9,731.0 | 7,204.0 | 6,522.0 | 5,646.0 | 4,958.0 | 5,079.0 |
Income taxes | 1,620.0 | 1,349.0 | 1,613.0 | 1,345.0 | 2,607.0 | 1,587.0 | 1,150.0 | 1,462.0 |
Tax rate | 15.7% | 17.4% | 16.6% | 18.7% | 40.0% | 28.1% | 23.2% | 28.8% |
Net income | 8,687.0 | 6,411.0 | 8,118.0 | 5,859.0 | 3,915.0 | 4,059.0 | 3,808.0 | 3,617.0 |
Net margin | 29.1% | 27.1% | 32.5% | 26.8% | 31.3% | 37.7% | 39.4% | 38.3% |
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Diluted EPS | $8.76 | $6.37 | $7.94 | $5.60 | $3.65 | $3.69 | $3.35 | $3.09 |
Shares outstanding (diluted) | 992.0 | 1,006.0 | 1,022.0 | 1,047.0 | 1,072.0 | 1,101.0 | 1,137.0 | 1,169.0 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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