GEO Group (GEO) FY2019 results: revenue $2.5 billion, up 6.3% on the year
GEO Group Inc. (GEO) reported revenue of $2.5 billion for fiscal 2019, the year ended 31 December 2019, up 6.3% on the year before. Net income was $167 million, up 14.8%, and diluted earnings per share $1.40. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$2.5 billion
+6.3% on the year
FY2012FY2019
Operating margin
12.2%
11.4% a year earlier
FY2012FY2019
Net income
$167 million
+14.8% on the year
FY2012FY2019
Diluted EPS
$1.40
+16.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,478
2,331
2,263
+6.3%
Operating income
303
265
248
+14.5%
Operating margin
12.2%
11.4%
11.0%
Interest expense
151
150
148
+0.6%
Pre-tax income
174
149
152
+16.2%
Income tax
16.6
14.1
18.0
+17.9%
Effective tax rate
9.6%
9.5%
11.8%
Net income
167
145
146
+14.8%
Net margin
6.7%
6.2%
6.5%
Diluted EPS
$1.40
$1.20
$1.21
+16.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
338
274
381
+23.2%
Capital expenditure
117
196
148
-40.1%
Free cash flow
221
78.8
233
+180.3%
Free cash flow margin
8.9%
3.4%
10.3%
Cash from investing
-104
-188
-500
Cash from financing
-251
-125
165
Depreciation and amortisation
131
126
124
+3.5%
Share-based compensation
22.3
22.0
19.8
+1.3%
Buybacks
0.0
95.2
0.0
Dividends paid
233
229
227
+1.3%
Dividend per share
$1.92
$1.88
$1.88
+2.1%
Diluted shares, weighted
119m
121m
121m
-1.2%
Shares outstanding at period end
121m
121m
124m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
997
1,041
1,199
-4.2%
Non-controlling interest
-0.8
-0.6
-0.3
Debt
2,770
2,777
2,620
-0.3%
Operating lease liabilities
97.3
0.0
n/a
Finance lease liabilities
3.0
4.6
n/a
-35.4%
Other liabilities
451
436
408
+3.4%
Total liabilities and equity
4,318
4,258
4,227
+1.4%
Fixed assets
2,145
2,159
2,078
-0.6%
Goodwill
776
776
779
-0.0%
Intangible assets
210
232
255
-9.6%
Cash and equivalents
32.5
31.3
81.4
+3.9%
Receivables
431
446
390
-3.3%
Other assets
723
614
643
+17.7%
Total assets
4,318
4,258
4,227
+1.4%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.