Frontdoor (FTDR) FY2020 results: revenue $1.5 billion, up 8.0% on the year
Frontdoor, Inc. (FTDR) reported revenue of $1.5 billion for fiscal 2020, the year ended 31 December 2020, up 8.0% on the year before. Net income was $112 million, down 26.8%, and diluted earnings per share $1.31. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$1.5 billion
+8.0% on the year
FY2016FY2020
Operating margin
n/a
FY2016FY2020
Net income
$112 million
-26.8% on the year
FY2016FY2020
Diluted EPS
$1.31
-27.2% on the year
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
1,474
1,365
1,258
+8.0%
Cost of revenue
758
687
686
+10.3%
Gross profit
716
678
572
+5.6%
Gross margin
48.6%
49.7%
45.5%
Selling, general and administrative
467
392
338
+19.1%
Interest expense
57.0
62.0
23.0
-8.1%
Pre-tax income
149
204
166
-27.0%
Income tax
37.0
51.0
42.0
-27.5%
Effective tax rate
24.8%
25.0%
25.3%
Net income
112
153
125
-26.8%
Net margin
7.6%
11.2%
9.9%
Diluted EPS
$1.31
$1.80
$1.47
-27.2%
$ 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
207
200
189
+3.5%
Capital expenditure
32.0
22.0
27.0
+45.5%
Free cash flow
175
178
162
-1.7%
Free cash flow margin
11.9%
13.0%
12.9%
Cash from investing
-31.0
-61.0
-10.0
Cash from financing
-7.0
-7.0
-165
Depreciation and amortisation
34.0
24.0
21.0
+41.7%
Share-based compensation
17.0
9.0
4.0
+88.9%
Dividends paid
n/a
n/a
137
Diluted shares, weighted
86m
85m
85m
+0.7%
Shares outstanding at period end
85m
85m
85m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-61.0
-179
-344
Debt
975
980
984
-0.5%
Operating lease liabilities
18.0
20.0
0.0
-10.0%
Other liabilities
473
429
401
+10.3%
Total liabilities and equity
1,405
1,250
1,041
+12.4%
Fixed assets
60.0
51.0
47.0
+17.6%
Goodwill
512
501
476
+2.2%
Intangible assets
170
191
158
-11.0%
Investments
n/a
7.0
9.0
Cash and equivalents
597
428
296
+39.5%
Receivables
5.0
11.0
12.0
-54.5%
Other assets
61.0
61.0
43.0
0.0%
Total assets
1,405
1,250
1,041
+12.4%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.