Brighthouse Financial (BHF) FY2020 results: revenue $8.5 billion, up 29.7% on the year
Brighthouse Financial, Inc. (BHF) reported revenue of $8.5 billion for fiscal 2020, the year ended 31 December 2020, up 29.7% on the year before. Net income was -$1.1 billion, and diluted earnings per share $-11.58. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$8.5 billion
+29.7% on the year
FY2015FY2020
Operating margin
-16.7%
-16.1% a year earlier
FY2015FY2020
Net income
-$1.1 billion
FY2015FY2020
Diluted EPS
-$11.58
FY2015FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
8,503
6,554
8,965
+29.7%
Operating income
-1,419
-1,052
989
Operating margin
-16.7%
-16.1%
11.0%
Interest expense
184
191
158
-3.7%
Pre-tax income
-1,419
-1,052
989
Income tax
-363
-317
119
Effective tax rate
n/a
n/a
12.0%
Net income
-1,061
-740
865
Net margin
-12.5%
-11.3%
9.6%
Diluted EPS
-$11.58
-$6.76
$7.21
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
888
1,828
3,062
-51.4%
Cash from investing
-5,843
-7,341
-4,538
Cash from financing
6,186
4,245
3,764
+45.7%
Share-based compensation
21.0
21.0
n/a
0.0%
Buybacks
473
442
105
+7.0%
Diluted shares, weighted
95m
113m
120m
-15.3%
Shares outstanding at period end
88m
106m
118m
-16.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
18,023
16,172
14,418
+11.4%
Non-controlling interest
65.0
65.0
65.0
0.0%
Debt
3,436
4,365
3,963
-21.3%
Other liabilities
226,345
206,657
187,848
+9.5%
Total liabilities and equity
247,869
227,259
206,294
+9.1%
Intangible assets
n/a
78.0
91.0
Investments
3,242
1,958
0.0
+65.6%
Cash and equivalents
4,108
2,877
4,145
+42.8%
Other assets
240,519
222,346
202,058
+8.2%
Total assets
247,869
227,259
206,294
+9.1%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.