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Frontdoor (FTDR) FY2024 results: revenue $1.8 billion, up 3.5% on the year

Frontdoor, Inc. (FTDR) reported revenue of $1.8 billion for fiscal 2024, the year ended 31 December 2024, up 3.5% on the year before. Net income was $235 million, up 37.4%, and diluted earnings per share $3.01. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2025.

Revenue
$1.8 billion
+3.5% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$235 million
+37.4% on the year
FY2017FY2024
Diluted EPS
$3.01
+42.0% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue1,8431,7801,662+3.5%
Cost of revenue852895952-4.8%
Gross profit991885710+12.0%
Gross margin53.8%49.7%42.7%
Selling, general and administrative612581521+5.3%
Interest expense40.040.031.00.0%
Pre-tax income30922993.0+34.9%
Income tax74.057.022.0+29.8%
Effective tax rate23.9%24.9%23.7%
Net income23517171.0+37.4%
Net margin12.8%9.6%4.3%
Diluted EPS$3.01$2.12$0.87+42.0%
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow270202142+33.7%
Capital expenditure39.032.040.0+21.9%
Free cash flow231170102+35.9%
Free cash flow margin12.5%9.6%6.1%
Cash from investing-622-32.0-35.0
Cash from financing447-137-77.0
Depreciation and amortisation39.037.034.0+5.4%
Share-based compensation26.026.022.00.0%
Buybacks16112159.0+33.1%
Diluted shares, weighted78m81m82m-3.6%
Shares outstanding at period end75m78m82m-3.9%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity23913661.0+75.7%
Debt1,199593609+102.2%
Operating lease liabilities20.016.018.0+25.0%
Other liabilities649344394+88.7%
Total liabilities and equity2,1071,0891,082+93.5%
Fixed assets73.060.066.0+21.7%
Goodwill967503503+92.2%
Intangible assets448143148+213.3%
Investments53.00.0n/a
Cash and equivalents421325292+29.5%
Receivables10.06.05.0+66.7%
Other assets13552.068.0+159.6%
Total assets2,1071,0891,082+93.5%

10-K for the year ended 31 December 2024, filed 27 February 2025: the filing.