Broadridge Financial Solutions (BR) FY2021 results: revenue $5.0 billion, up 10.3% on the year
Broadridge Financial Solutions, Inc. (BR) reported revenue of $5.0 billion for fiscal 2021, the year ended 30 June 2021, up 10.3% on the year before. Net income was $548 million, up 18.4%, and diluted earnings per share $4.65. The figures are the company's own, from the 10-K it filed with the SEC on 12 August 2021.
Revenue
$5.0 billion
+10.3% on the year
FY2014FY2021
Operating margin
13.6%
13.8% a year earlier
FY2014FY2021
Net income
$548 million
+18.4% on the year
FY2014FY2021
Diluted EPS
$4.65
+17.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
4,994
4,529
4,362
+10.3%
Cost of revenue
3,571
3,265
3,132
+9.4%
Gross profit
1,423
1,264
1,230
+12.6%
Gross margin
28.5%
27.9%
28.2%
Selling, general and administrative
744
639
578
+16.5%
Operating income
679
625
653
+8.6%
Operating margin
13.6%
13.8%
15.0%
Interest expense
57.5
62.5
45.9
-8.0%
Pre-tax income
n/a
n/a
607
Income tax
149
117
125
+27.1%
Effective tax rate
n/a
n/a
20.6%
Net income
548
462
482
+18.4%
Net margin
11.0%
10.2%
11.1%
Diluted EPS
$4.65
$3.95
$4.06
+17.7%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
640
598
617
+7.0%
Capital expenditure
51.9
62.7
50.6
-17.2%
Free cash flow
588
536
566
+9.8%
Free cash flow margin
11.8%
11.8%
13.0%
Cash from investing
-2,654
-442
-434
Cash from financing
1,798
51.2
-173
+3,411.3%
Depreciation and amortisation
67.4
73.8
85.2
-8.7%
Share-based compensation
58.6
60.8
58.4
-3.6%
Buybacks
21.5
69.3
398
-69.0%
Dividends paid
262
241
211
+8.6%
Dividend per share
$2.30
$2.16
$1.94
+6.5%
Diluted shares, weighted
118m
117m
119m
+0.7%
Shares outstanding at period end
116m
115m
114m
+0.9%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,809
1,346
1,128
+34.4%
Debt
3,888
1,788
1,470
+117.5%
Operating lease liabilities
263
288
n/a
-8.7%
Other liabilities
2,160
1,468
1,283
+47.2%
Total liabilities and equity
8,120
4,890
3,881
+66.1%
Fixed assets
177
162
189
+9.7%
Goodwill
3,720
1,674
1,500
+122.2%
Intangible assets
1,425
584
556
+144.1%
Investments
121
102
82.2
+18.3%
Cash and equivalents
274
477
273
-42.4%
Inventory
23.2
21.5
21.1
+7.9%
Other assets
2,378
1,869
1,259
+27.2%
Total assets
8,120
4,890
3,881
+66.1%
10-K for the year ended 30 June 2021, filed 12 August 2021: the filing.