Horace Mann Educators (HMN) FY2020 results: revenue $1.3 billion, down 8.4% on the year
Horace Mann Educators Corp. (HMN) reported revenue of $1.3 billion for fiscal 2020, the year ended 31 December 2020, down 8.4% on the year before. Net income was $133 million, down 27.7%, and diluted earnings per share $3.17. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$1.3 billion
-8.4% on the year
FY2013FY2020
Operating margin
12.2%
16.5% a year earlier
FY2013FY2020
Net income
$133 million
-27.7% on the year
FY2013FY2020
Diluted EPS
$3.17
-28.0% 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
1,310
1,430
1,192
-8.4%
Operating income
160
236
19.5
-32.5%
Operating margin
12.2%
16.5%
1.6%
Interest expense
15.2
15.6
13.0
-2.3%
Pre-tax income
160
236
19.5
-32.5%
Income tax
26.3
52.0
1.2
-49.5%
Effective tax rate
16.5%
22.0%
6.1%
Net income
133
184
18.3
-27.7%
Net margin
10.2%
12.9%
1.5%
Diluted EPS
$3.17
$4.40
$0.44
-28.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
260
128
201
+103.6%
Cash from investing
-407
55.9
-186
Cash from financing
144
-170
-10.1
Depreciation and amortisation
23.4
15.6
7.4
+49.8%
Share-based compensation
6.7
7.3
8.3
-8.2%
Dividends paid
49.6
47.3
46.7
+4.8%
Dividend per share
$1.20
$1.15
$1.14
+4.3%
Diluted shares, weighted
42m
42m
42m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,790
1,567
1,291
+14.2%
Short-term borrowings
135
135
0.0
0.0%
Debt
302
298
298
+1.4%
Other liabilities
11,244
10,478
9,444
+7.3%
Total liabilities and equity
13,472
12,479
11,032
+8.0%
Fixed assets
64.7
60.1
41.0
+7.6%
Goodwill
43.5
49.1
47.4
-11.5%
Intangible assets
158
177
0.0
-10.6%
Securities held for sale or to maturity
6,345
5,792
7,515
+9.6%
Cash and equivalents
22.3
25.5
11.9
-12.5%
Other assets
6,838
6,375
3,416
+7.3%
Total assets
13,472
12,479
11,032
+8.0%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.