Genworth Financial (GNW) FY2020 results: revenue $8.3 billion, up 7.5% on the year
Genworth Financial Inc. (GNW) reported revenue of $8.3 billion for fiscal 2020, the year ended 31 December 2020, up 7.5% on the year before. Net income was $178 million, down 48.1%, and diluted earnings per share $0.35. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$8.3 billion
+7.5% on the year
FY2013FY2020
Operating margin
3.7%
4.6% a year earlier
FY2013FY2020
Net income
$178 million
-48.1% on the year
FY2013FY2020
Diluted EPS
$0.35
-47.8% on the year
FY2013FY2020
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
8,284
7,705
7,901
+7.5%
Selling, general and administrative
935
909
943
+2.9%
Operating income
310
355
-5.0
-12.7%
Operating margin
3.7%
4.6%
-0.1%
Interest expense
195
231
256
-15.6%
Pre-tax income
928
521
137
+78.1%
Income tax
230
139
70.0
+65.5%
Effective tax rate
24.8%
26.7%
51.1%
Net income
178
343
119
-48.1%
Net margin
2.1%
4.5%
1.5%
Diluted EPS
$0.35
$0.67
$0.24
-47.8%
$ 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
1,960
2,079
1,633
-5.7%
Cash from investing
-1,153
1,301
-622
Cash from financing
-1,507
-2,217
-1,621
Depreciation and amortisation
463
408
348
+13.5%
Share-based compensation
39.0
26.0
35.0
+50.0%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
512m
510m
504m
+0.4%
Shares outstanding at period end
506m
504m
501m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
15,318
14,185
12,450
+8.0%
Non-controlling interest
502
447
1,739
+12.3%
Debt
3,403
3,277
3,707
+3.8%
Other liabilities
86,524
83,433
83,027
+3.7%
Total liabilities and equity
105,747
101,342
100,923
+4.3%
Intangible assets
157
n/a
n/a
Securities held for sale or to maturity
63,495
60,339
55,589
+5.2%
Cash and equivalents
1,032
3,262
1,974
-68.4%
Other assets
41,063
37,741
43,360
+8.8%
Total assets
105,747
101,342
100,923
+4.3%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.