Global Payments (GPN) FY2020 results: revenue $7.4 billion, up 51.1% on the year
Global Payments Inc. (GPN) reported revenue of $7.4 billion for fiscal 2020, the year ended 31 December 2020, up 51.1% on the year before. Net income was $585 million, up 35.7%, and diluted earnings per share $1.95. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$7.4 billion
+51.1% on the year
FY2016FY2020
Operating margin
12.0%
16.1% a year earlier
FY2016FY2020
Net income
$585 million
+35.7% on the year
FY2016FY2020
Diluted EPS
$1.95
-9.7% 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
7,424
4,912
3,366
+51.1%
Cost of revenue
3,651
2,074
1,095
+76.0%
Gross profit
3,773
2,838
2,271
+32.9%
Gross margin
50.8%
57.8%
67.5%
Selling, general and administrative
2,879
2,047
1,534
+40.7%
Operating income
894
791
737
+13.0%
Operating margin
12.0%
16.1%
21.9%
Interest expense
327
301
196
+8.5%
Pre-tax income
594
518
562
+14.7%
Income tax
77.2
62.2
77.5
+24.1%
Effective tax rate
13.0%
12.0%
13.8%
Net income
585
431
452
+35.7%
Net margin
7.9%
8.8%
13.4%
Diluted EPS
$1.95
$2.16
$2.84
-9.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,314
1,391
1,106
+66.3%
Capital expenditure
436
308
213
+41.7%
Free cash flow
1,878
1,083
893
+73.3%
Free cash flow margin
25.3%
22.1%
26.5%
Cash from investing
-438
-917
-1,476
Cash from financing
-1,546
-28.7
287
Depreciation and amortisation
1,614
878
523
+83.8%
Share-based compensation
149
89.6
57.8
+66.0%
Buybacks
631
311
208
+102.7%
Dividends paid
233
63.5
6.3
+267.3%
Dividend per share
$0.78
$0.23
$0.04
+246.7%
Diluted shares, weighted
301m
199m
159m
+50.9%
Shares outstanding at period end
298m
300m
158m
-0.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
27,332
27,856
3,991
-1.9%
Non-controlling interest
155
199
195
-22.4%
Debt
9,652
9,589
5,831
+0.7%
Operating lease liabilities
448
397
n/a
+12.7%
Finance lease liabilities
57.8
26.4
n/a
+118.6%
Other liabilities
6,556
6,413
3,214
+2.2%
Total liabilities and equity
44,202
44,480
13,231
-0.6%
Fixed assets
1,579
1,383
654
+14.2%
Goodwill
23,871
23,760
6,341
+0.5%
Intangible assets
12,016
13,155
2,489
-8.7%
Cash and equivalents
1,946
1,678
1,211
+15.9%
Receivables
794
895
348
-11.3%
Other assets
3,996
3,609
2,188
+10.7%
Total assets
44,202
44,480
13,231
-0.6%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.