Broadridge Financial Solutions (BR) FY2020 results: revenue $4.5 billion, up 3.8% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $4.5 billion for fiscal 2020, the year ended 30 June 2020, up 3.8% on the year before. Net income was $462 million, down 4.1%, and diluted earnings per share $3.95. The figures are the company's own, from the 10-K it filed with the SEC on 11 August 2020.
Revenue
$4.5 billion
+3.8% on the year
FY2013FY2020
Operating margin
13.8%
15.0% a year earlier
FY2013FY2020
Net income
$462 million
-4.1% on the year
FY2013FY2020
Diluted EPS
$3.95
-2.7% on the year
FY2013FY2020
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
4,529
4,362
4,330
+3.8%
Cost of revenue
3,265
3,132
3,170
+4.3%
Gross profit
1,264
1,230
1,160
+2.7%
Gross margin
27.9%
28.2%
26.8%
Selling, general and administrative
639
578
565
+10.6%
Operating income
625
653
598
-4.3%
Operating margin
13.8%
15.0%
13.8%
Interest expense
62.5
45.9
42.4
+36.2%
Pre-tax income
n/a
607
561
Income tax
117
125
133
-6.5%
Effective tax rate
n/a
20.6%
23.7%
Net income
462
482
428
-4.1%
Net margin
10.2%
11.1%
9.9%
Diluted EPS
$3.95
$4.06
$3.56
-2.7%
$ 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
598
617
694
-3.0%
Capital expenditure
62.7
50.6
76.7
+23.9%
Free cash flow
536
566
617
-5.5%
Free cash flow margin
11.8%
13.0%
14.2%
Cash from investing
-442
-434
-249
Cash from financing
51.2
-173
-450
Depreciation and amortisation
73.8
85.2
82.1
-13.4%
Share-based compensation
60.8
58.4
55.1
+4.1%
Buybacks
69.3
398
277
-82.6%
Dividends paid
241
211
166
+14.1%
Dividend per share
$2.16
$1.94
$1.46
+11.3%
Diluted shares, weighted
117m
119m
120m
-1.5%
Shares outstanding at period end
115m
114m
116m
+0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,346
1,128
1,094
+19.4%
Debt
1,788
1,470
1,053
+21.6%
Operating lease liabilities
288
n/a
n/a
Other liabilities
1,468
1,283
1,157
+14.4%
Total liabilities and equity
4,890
3,881
3,305
+26.0%
Fixed assets
162
189
204
-14.5%
Goodwill
1,674
1,500
1,255
+11.6%
Intangible assets
584
556
494
+5.0%
Investments
102
82.2
80.4
+24.7%
Cash and equivalents
477
273
264
+74.5%
Inventory
21.5
21.1
18.5
+1.9%
Other assets
1,869
1,259
989
+48.5%
Total assets
4,890
3,881
3,305
+26.0%
10-K for the year ended 30 June 2020, filed 11 August 2020: the filing.