BrightView Holdings (BV) FY2024 results: revenue $2.8 billion, down 1.7% on the year

BrightView Holdings, Inc. (BV) reported revenue of $2.8 billion for fiscal 2024, the year ended 30 September 2024, down 1.7% on the year before. Net income was $66 million, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 13 November 2024.

Revenue

$2.8 billion

-1.7% on the year

FY2018FY2024

Operating margin

5.7%

3.6% a year earlier

FY2018FY2024

Net income

$66 million

FY2018FY2024

Diluted EPS

$0.20

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,767	2,816	2,775	-1.7%
Cost of revenue	2,122	2,137	2,100	-0.7%
Gross profit	646	679	675	-4.9%
Gross margin	23.3%	24.1%	24.3%
Selling, general and administrative	496	533	535	-6.9%
Operating income	157	101	88.4	+55.3%
Operating margin	5.7%	3.6%	3.2%
Interest expense	62.4	97.4	53.3	-35.9%
Pre-tax income	96.5	-3.1	19.6
Income tax	30.1	4.6	5.6	+554.3%
Effective tax rate	31.2%	n/a	28.6%
Net income	66.4	-7.7	14.0
Net margin	2.4%	-0.3%	0.5%
Diluted EPS	$0.20	-$0.12	$0.14

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	206	130	107	+58.3%
Capital expenditure	78.4	71.3	107	+10.0%
Free cash flow	127	58.6	-0.4	+117.1%
Free cash flow margin	4.6%	2.1%	-0.0%
Cash from investing	-5.6	-61.4	-194
Cash from financing	-127	-21.6	-16.8
Depreciation and amortisation	144	150	150	-3.7%
Share-based compensation	20.2	22.1	18.9	-8.6%
Buybacks	3.1	2.2	164	+40.9%
Diluted shares, weighted	96m	93m	98m	+2.9%
Shares outstanding at period end	95m	94m	93m	+1.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	1,275	1,243	1,217	+2.6%
Debt	802	888	1,343	-9.6%
Operating lease liabilities	62.6	65.1	61.3	-3.8%
Finance lease liabilities	31.2	21.3	22.4	+46.5%
Other liabilities	1,220	1,134	662	+7.6%
Total liabilities and equity	3,392	3,352	3,306	+1.2%
Fixed assets	392	315	328	+24.3%
Goodwill	2,016	2,021	2,009	-0.3%
Intangible assets	95.8	132	174	-27.6%
Cash and equivalents	140	67.0	20.1	+109.6%
Receivables	415	442	398	-6.1%
Other assets	333	374	376	-11.0%
Total assets	3,392	3,352	3,306	+1.2%

10-K for the year ended 30 September 2024, filed 13 November 2024: the filing.