Equitable Holdings (EQH) FY2020 results: revenue $12.4 billion, up 29.1% on the year
Equitable Holdings, Inc. (EQH) reported revenue of $12.4 billion for fiscal 2020, the year ended 31 December 2020, up 29.1% on the year before. Net income was -$648 million, and diluted earnings per share $-1.56. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$12.4 billion
+29.1% on the year
FY2016FY2020
Operating margin
-8.8%
-21.4% a year earlier
FY2016FY2020
Net income
-$648 million
FY2016FY2020
Diluted EPS
-$1.56
FY2016FY2020
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
12,415
9,619
12,078
+29.1%
Operating income
-1,093
-2,060
2,499
Operating margin
-8.8%
-21.4%
20.7%
Interest expense
200
221
231
-9.5%
Pre-tax income
-1,093
-2,060
2,490
Income tax
-744
-593
301
Effective tax rate
n/a
n/a
12.1%
Net income
-648
-1,764
1,855
Net margin
-5.2%
-18.3%
15.4%
Diluted EPS
-$1.56
-$3.57
$3.33
$ 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
-61.0
-216
61.0
Cash from investing
-7,823
-8,496
-2,049
Cash from financing
9,674
8,705
1,655
+11.1%
Depreciation and amortisation
n/a
675
296
Share-based compensation
252
276
228
-8.7%
Buybacks
430
1,350
648
-68.1%
Dividends paid
297
285
157
+4.2%
Dividend per share
$0.66
$0.58
$0.26
+13.8%
Diluted shares, weighted
450m
494m
556m
-8.8%
Shares outstanding at period end
441m
464m
529m
-4.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
15,576
13,456
13,866
+15.8%
Non-controlling interest
1,601
1,591
1,566
+0.6%
Redeemable equity
143
365
187
-60.8%
Debt
4,115
4,111
4,955
+0.1%
Other liabilities
253,962
230,347
200,223
+10.3%
Total liabilities and equity
275,397
249,870
220,797
+10.2%
Goodwill
n/a
n/a
4,570
Securities held for sale or to maturity
81,638
66,343
46,279
+23.1%
Loans
13,159
n/a
n/a
Trading assets
n/a
73.0
-86.0
Cash and equivalents
6,179
4,405
4,469
+40.3%
Other assets
174,421
179,049
165,565
-2.6%
Total assets
275,397
249,870
220,797
+10.2%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.