CoreCivic (CXW) FY2019 results: revenue $2.0 billion, up 7.9% on the year
CoreCivic, Inc. (CXW) reported revenue of $2.0 billion for fiscal 2019, the year ended 31 December 2019, up 7.9% on the year before. Net income was $189 million, up 18.6%, and diluted earnings per share $1.59. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$2.0 billion
+7.9% on the year
FY2012FY2019
Operating margin
14.2%
13.6% a year earlier
FY2012FY2019
Net income
$189 million
+18.6% on the year
FY2012FY2019
Diluted EPS
$1.59
+18.7% 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
1,981
1,836
1,765
+7.9%
Operating income
282
249
260
+12.9%
Operating margin
14.2%
13.6%
14.7%
Interest expense
84.4
n/a
n/a
Pre-tax income
197
168
192
+17.4%
Income tax
7.8
8.4
13.9
-6.2%
Effective tax rate
4.0%
5.0%
7.2%
Net income
189
159
178
+18.6%
Net margin
9.5%
8.7%
10.1%
Diluted EPS
$1.59
$1.34
$1.50
+18.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
354
323
341
+9.8%
Capital expenditure
191
487
115
-60.8%
Free cash flow
164
-164
227
Free cash flow margin
8.3%
-8.9%
12.8%
Cash from investing
-245
-291
-125
Cash from financing
-64.8
-9.9
-202
Depreciation and amortisation
145
157
147
-7.6%
Share-based compensation
17.3
13.1
13.3
+31.5%
Buybacks
3.5
3.0
5.8
+17.5%
Dividends paid
210
204
200
+2.6%
Dividend per share
$1.76
$1.72
$1.68
+2.3%
Diluted shares, weighted
119m
119m
118m
+0.4%
Shares outstanding at period end
119m
119m
118m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,377
1,415
1,452
-2.7%
Debt
1,987
1,815
1,459
+9.5%
Operating lease liabilities
51.2
n/a
n/a
Other liabilities
377
426
362
-11.5%
Total liabilities and equity
3,792
3,656
3,272
+3.7%
Fixed assets
2,700
2,831
2,547
-4.6%
Goodwill
50.5
48.2
40.9
+4.9%
Cash and equivalents
92.1
52.8
52.2
+74.5%
Receivables
281
271
254
+3.8%
Other assets
668
454
378
+47.3%
Total assets
3,792
3,656
3,272
+3.7%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.