Match Group (MTCH) FY2013 results: revenue $3.0 billion, up 7.9% on the year
Match Group, Inc. (MTCH) reported revenue of $3.0 billion for fiscal 2013, the year ended 31 December 2013, up 7.9% on the year before. Net income was $286 million, up 79.4%, and diluted earnings per share $3.29. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$3.0 billion
+7.9% on the year
FY2008FY2013
Operating margin
14.1%
11.6% a year earlier
FY2008FY2013
Net income
$286 million
+79.4% on the year
FY2008FY2013
Diluted EPS
$3.29
+92.4% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
3,023
2,801
2,059
+7.9%
Cost of revenue
977
992
n/a
-1.4%
Gross profit
2,046
1,809
n/a
+13.1%
Gross margin
67.7%
64.6%
n/a
Research and development
140
117
90.8
+19.9%
Operating income
426
324
198
+31.7%
Operating margin
14.1%
11.6%
9.6%
Interest expense
33.6
6.1
5.4
+446.4%
Pre-tax income
416
289
172
+44.0%
Income tax
135
119
-4.0
+12.8%
Effective tax rate
32.3%
41.2%
-2.4%
Net income
286
159
174
+79.4%
Net margin
9.5%
5.7%
8.5%
Diluted EPS
$3.29
$1.71
$1.85
+92.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
411
355
372
+15.9%
Capital expenditure
80.3
51.2
40.0
+56.9%
Free cash flow
331
303
332
+9.0%
Free cash flow margin
10.9%
10.8%
16.1%
Depreciation and amortisation
119
88.3
78.8
+34.6%
Share-based compensation
53.0
85.6
88.6
-38.1%
Buybacks
264
692
508
-61.8%
Dividends paid
79.2
68.2
10.7
+16.2%
Dividend per share
$0.96
$0.72
$0.12
+33.3%
Diluted shares, weighted
87m
93m
94m
-6.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,687
1,656
1,905
+1.9%
Non-controlling interest
42.7
51.9
55.1
-17.8%
Redeemable equity
42.9
58.1
50.3
-26.3%
Debt
1,080
596
95.8
+81.3%
Other liabilities
1,382
1,444
1,304
-4.3%
Total liabilities and equity
4,235
3,806
3,410
+11.3%
Fixed assets
294
271
260
+8.7%
Goodwill
1,675
1,616
1,359
+3.7%
Intangible assets
445
483
378
-7.8%
Investments
186
175
335
+6.3%
Cash and equivalents
1,100
750
704
+46.7%
Receivables
207
230
177
-9.8%
Other assets
326
282
198
+15.9%
Total assets
4,235
3,806
3,410
+11.3%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.