Assured Guaranty (AGO) FY2021 results: revenue $848 million, down 23.9% on the year
Assured Guaranty Ltd. (AGO) reported revenue of $848 million for fiscal 2021, the year ended 31 December 2021, down 23.9% on the year before. Net income was $389 million, up 7.5%, and diluted earnings per share $5.23. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$848 million
-23.9% on the year
FY2014FY2021
Operating margin
45.2%
34.6% a year earlier
FY2014FY2021
Net income
$389 million
+7.5% on the year
FY2014FY2021
Diluted EPS
$5.23
+24.8% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
-1,937
-853
-509
Cash from investing
23.0
788
1,169
-97.1%
Cash from financing
1,960
183
-584
+971.0%
Buybacks
496
446
500
+11.2%
Dividends paid
66.0
69.0
74.0
-4.3%
Dividend per share
$0.88
$0.80
$0.72
+10.0%
Diluted shares, weighted
74m
86m
100m
-13.8%
Shares outstanding at period end
68m
78m
93m
-12.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
6,292
6,643
6,639
-5.3%
Non-controlling interest
186
41.0
6.0
+353.7%
Debt
1,673
1,224
1,235
+36.7%
Other liabilities
10,057
7,426
6,446
+35.4%
Total liabilities and equity
18,208
15,334
14,326
+18.7%
Goodwill
117
117
117
0.0%
Intangible assets
52.0
64.0
77.0
-18.8%
Investments
1,225
851
1,268
+43.9%
Cash and equivalents
342
298
183
+14.8%
Other assets
16,472
14,004
12,681
+17.6%
Total assets
18,208
15,334
14,326
+18.7%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.