Horace Mann Educators (HMN) FY2019 results: revenue $1.4 billion, up 20.0% on the year
Horace Mann Educators Corp. (HMN) reported revenue of $1.4 billion for fiscal 2019, the year ended 31 December 2019, up 20.0% on the year before. Net income was $184 million, up 905.5%, and diluted earnings per share $4.40. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2020.
Revenue
$1.4 billion
+20.0% on the year
FY2012FY2019
Operating margin
16.5%
1.6% a year earlier
FY2012FY2019
Net income
$184 million
+905.5% on the year
FY2012FY2019
Diluted EPS
$4.40
+900.0% 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
1,430
1,192
1,172
+20.0%
Operating income
236
19.5
88.7
+1,110.3%
Operating margin
16.5%
1.6%
7.6%
Interest expense
15.6
13.0
11.9
+19.8%
Pre-tax income
236
19.5
88.7
+1,110.3%
Income tax
52.0
1.2
-80.8
+4,255.6%
Effective tax rate
22.0%
6.1%
-91.1%
Net income
184
18.3
169
+905.5%
Net margin
12.9%
1.5%
14.5%
Diluted EPS
$4.40
$0.44
$4.08
+900.0%
$ 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
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
128
201
257
-36.5%
Cash from investing
55.9
-186
-229
Cash from financing
-170
-10.1
-37.0
Depreciation and amortisation
15.6
7.4
6.6
+112.4%
Share-based compensation
7.3
8.3
8.6
-12.5%
Dividends paid
47.3
46.7
46.1
+1.4%
Dividend per share
$1.15
$1.14
$1.10
+0.9%
Diluted shares, weighted
42m
42m
42m
+0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,567
1,291
1,502
+21.4%
Short-term borrowings
135
0.0
n/a
Debt
298
298
297
+0.1%
Other liabilities
10,478
9,444
9,399
+11.0%
Total liabilities and equity
12,479
11,032
11,198
+13.1%
Fixed assets
60.1
41.0
38.9
+46.7%
Goodwill
49.1
47.4
47.4
+3.6%
Intangible assets
177
0.0
n/a
Securities held for sale or to maturity
5,792
7,515
7,724
-22.9%
Cash and equivalents
25.5
11.9
7.6
+114.2%
Other assets
6,375
3,416
3,380
+86.6%
Total assets
12,479
11,032
11,198
+13.1%
10-K for the year ended 31 December 2019, filed 2 March 2020: the filing.