Deluxe (DLX) FY2020 results: revenue $1.8 billion, down 10.8% on the year
Deluxe Corp. (DLX) reported revenue of $1.8 billion for fiscal 2020, the year ended 31 December 2020, down 10.8% on the year before. Net income was $5 million, and diluted earnings per share $0.11. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$1.8 billion
-10.8% on the year
FY2013FY2020
Operating margin
2.3%
-9.4% a year earlier
FY2013FY2020
Net income
$5 million
FY2013FY2020
Diluted EPS
$0.11
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
1,791
2,009
1,998
-10.8%
Cost of revenue
731
813
792
-10.1%
Gross profit
1,060
1,196
1,206
-11.4%
Gross margin
59.2%
59.5%
60.4%
Selling, general and administrative
840
892
854
-5.8%
Operating income
40.7
-188
231
Operating margin
2.3%
-9.4%
11.6%
Interest expense
23.1
34.7
27.1
-33.3%
Pre-tax income
26.8
-216
213
Income tax
21.5
8.0
63.0
+167.0%
Effective tax rate
80.1%
n/a
29.6%
Net income
5.2
-224
150
Net margin
0.3%
-11.1%
7.5%
Diluted EPS
$0.11
-$5.20
$3.16
$ 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
218
287
339
-24.1%
Capital expenditure
n/a
66.6
62.2
Free cash flow
n/a
220
277
Free cash flow margin
n/a
11.0%
13.9%
Cash from investing
-56.1
-72.4
-253
Cash from financing
-111
-190
-62.2
Depreciation and amortisation
111
126
131
-12.1%
Share-based compensation
21.8
19.7
13.4
+10.8%
Buybacks
14.0
119
200
-88.2%
Dividends paid
50.7
51.7
56.7
-1.9%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Diluted shares, weighted
42m
43m
47m
-2.1%
Shares outstanding at period end
42m
42m
45m
-0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
513
571
915
-10.1%
Non-controlling interest
n/a
0.0
n/a
Debt
840
884
910
-4.9%
Operating lease liabilities
28.3
33.6
0.0
-15.6%
Finance lease liabilities
0.1
n/a
n/a
Other liabilities
460
455
480
+1.1%
Total liabilities and equity
1,842
1,943
2,305
-5.2%
Fixed assets
88.7
96.5
90.3
-8.1%
Goodwill
703
774
1,161
-9.2%
Intangible assets
247
276
360
-10.6%
Investments
45.9
45.0
43.8
+2.1%
Cash and equivalents
123
73.6
59.7
+67.2%
Receivables
162
163
174
-0.9%
Inventory
40.1
39.9
46.4
+0.5%
Other assets
433
474
370
-8.8%
Total assets
1,842
1,943
2,305
-5.2%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.