Encore Capital Group (ECPG) FY2014 results: revenue $1.0 billion, up 34.9% on the year
Encore Capital Group Inc. (ECPG) reported revenue of $1.0 billion for fiscal 2014, the year ended 31 December 2014, up 34.9% on the year before. Net income was $104 million, up 37.8%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$1.0 billion
+34.9% on the year
FY2009FY2014
Operating margin
29.6%
25.6% a year earlier
FY2009FY2014
Net income
$104 million
+37.8% on the year
FY2009FY2014
Diluted EPS
$3.77
+31.4% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,043
773
556
+34.9%
Operating income
308
198
155
+55.5%
Operating margin
29.6%
25.6%
27.9%
Interest expense
167
73.3
25.6
+127.8%
Pre-tax income
142
121
130
+17.2%
Income tax
48.6
45.4
51.8
+7.0%
Effective tax rate
34.3%
37.6%
39.7%
Net income
104
75.3
69.5
+37.8%
Net margin
9.9%
9.7%
12.5%
Diluted EPS
$3.77
$2.87
$2.69
+31.4%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
112
74.8
98.5
+49.2%
Capital expenditure
23.1
13.4
6.3
+72.0%
Free cash flow
88.5
61.4
92.3
+44.2%
Free cash flow margin
8.5%
7.9%
16.6%
Cash from investing
-755
-217
-344
Cash from financing
626
246
255
+154.6%
Depreciation and amortisation
27.1
13.5
5.8
+100.0%
Share-based compensation
17.2
12.6
8.8
+35.8%
Buybacks
16.8
0.7
49.3
+2,206.6%
Diluted shares, weighted
27m
26m
26m
+4.9%
Shares outstanding at period end
26m
25m
23m
+1.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
623
572
406
+8.9%
Non-controlling interest
4.0
4.0
n/a
-0.7%
Redeemable equity
9.1
0.0
0.0
Debt
2,757
1,849
101
+49.1%
Other liabilities
357
260
665
+37.0%
Total liabilities and equity
3,750
2,685
1,171
+39.7%
Fixed assets
67.0
55.8
23.2
+20.1%
Goodwill
898
504
55.4
+78.1%
Intangible assets
21.6
23.5
0.5
-8.4%
Cash and equivalents
91.5
126
17.5
-27.5%
Other assets
2,672
1,976
1,075
+35.3%
Total assets
3,750
2,685
1,171
+39.7%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.