Encore Capital Group (ECPG) FY2013 results: revenue $773 million, up 39.1% on the year
Encore Capital Group Inc. (ECPG) reported revenue of $773 million for fiscal 2013, the year ended 31 December 2013, up 39.1% on the year before. Net income was $75 million, up 8.4%, and diluted earnings per share $2.87. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$773 million
+39.1% on the year
FY2009FY2013
Operating margin
25.6%
27.9% a year earlier
FY2009FY2013
Net income
$75 million
+8.4% on the year
FY2009FY2013
Diluted EPS
$2.87
+6.7% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
773
556
449
+39.1%
Operating income
198
155
120
+27.9%
Operating margin
25.6%
27.9%
26.8%
Interest expense
73.3
25.6
21.1
+186.6%
Pre-tax income
121
130
98.7
-7.3%
Income tax
45.4
51.8
38.1
-12.3%
Effective tax rate
37.6%
39.7%
38.6%
Net income
75.3
69.5
61.0
+8.4%
Net margin
9.7%
12.5%
13.6%
Diluted EPS
$2.87
$2.69
$2.37
+6.7%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
74.8
98.5
84.6
-24.1%
Capital expenditure
13.4
6.3
5.6
+114.3%
Free cash flow
61.4
92.3
79.0
-33.5%
Free cash flow margin
7.9%
16.6%
17.6%
Cash from investing
-217
-344
-88.1
Cash from financing
246
255
0.7
-3.4%
Depreciation and amortisation
13.5
5.8
4.7
+132.0%
Share-based compensation
12.6
8.8
7.7
+43.8%
Buybacks
0.7
49.3
n/a
-98.5%
Diluted shares, weighted
26m
26m
26m
+1.4%
Shares outstanding at period end
25m
23m
25m
+9.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
572
406
372
+40.9%
Non-controlling interest
4.0
n/a
n/a
Redeemable equity
0.0
0.0
n/a
Debt
1,849
101
n/a
+1,738.8%
Other liabilities
260
665
441
-60.9%
Total liabilities and equity
2,685
1,171
812
+129.2%
Fixed assets
55.8
23.2
17.8
+140.2%
Goodwill
504
55.4
16.0
+809.4%
Intangible assets
23.5
0.5
0.5
+4,735.5%
Cash and equivalents
126
17.5
8.0
+620.8%
Other assets
1,976
1,075
770
+83.8%
Total assets
2,685
1,171
812
+129.2%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.