Broadridge Financial Solutions (BR) FY2019 results: revenue $4.4 billion, up 0.7% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $4.4 billion for fiscal 2019, the year ended 30 June 2019, up 0.7% on the year before. Net income was $482 million, up 12.7%, and diluted earnings per share $4.06. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2019.
Revenue
$4.4 billion
+0.7% on the year
FY2012FY2019
Operating margin
15.0%
13.8% a year earlier
FY2012FY2019
Net income
$482 million
+12.7% on the year
FY2012FY2019
Diluted EPS
$4.06
+14.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,362
4,330
4,143
+0.7%
Cost of revenue
3,132
3,170
3,110
-1.2%
Gross profit
1,230
1,160
1,033
+6.0%
Gross margin
28.2%
26.8%
24.9%
Selling, general and administrative
578
565
501
+2.1%
Operating income
653
598
532
+9.1%
Operating margin
15.0%
13.8%
12.8%
Interest expense
45.9
42.4
44.7
+8.3%
Pre-tax income
607
561
488
+8.3%
Income tax
125
133
161
-5.9%
Effective tax rate
20.6%
23.7%
33.1%
Net income
482
428
327
+12.7%
Net margin
11.1%
9.9%
7.9%
Diluted EPS
$4.06
$3.56
$2.70
+14.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
617
694
516
-11.0%
Capital expenditure
50.6
76.7
85.4
-34.0%
Free cash flow
566
617
430
-8.2%
Free cash flow margin
13.0%
14.2%
10.4%
Cash from investing
-434
-249
-659
Cash from financing
-173
-450
-312
Depreciation and amortisation
85.2
82.1
68.6
+3.8%
Share-based compensation
58.4
55.1
46.1
+6.0%
Buybacks
398
277
343
+43.6%
Dividends paid
211
166
152
+27.4%
Dividend per share
$1.94
$1.46
$1.32
+32.9%
Diluted shares, weighted
119m
120m
121m
-1.3%
Shares outstanding at period end
114m
116m
116m
-1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,128
1,094
1,004
+3.0%
Debt
1,470
1,053
1,102
+39.6%
Other liabilities
1,283
1,157
1,044
+10.9%
Total liabilities and equity
3,881
3,305
3,150
+17.4%
Fixed assets
189
204
198
-7.4%
Goodwill
1,500
1,255
1,159
+19.5%
Intangible assets
556
494
486
+12.6%
Investments
82.2
80.4
63.5
+2.2%
Cash and equivalents
273
264
271
+3.5%
Inventory
21.1
18.5
17.2
+14.1%
Other assets
1,259
989
954
+27.3%
Total assets
3,881
3,305
3,150
+17.4%
10-K for the year ended 30 June 2019, filed 6 August 2019: the filing.