Match Group (MTCH) FY2019 results: revenue $2.1 billion, up 18.6% on the year
Match Group, Inc. (MTCH) reported revenue of $2.1 billion for fiscal 2019, the year ended 31 December 2019, up 18.6% on the year before. Net income was $454 million, down 28.7%, and diluted earnings per share $2.15. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$2.1 billion
+18.6% on the year
FY2012FY2019
Operating margin
31.5%
31.8% a year earlier
FY2012FY2019
Net income
$454 million
-28.7% on the year
FY2012FY2019
Diluted EPS
$2.15
-28.8% 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
2,051
1,730
3,307
+18.6%
Cost of revenue
1,127
911
651
+23.7%
Gross profit
n/a
n/a
2,656
Gross margin
n/a
n/a
80.3%
Research and development
152
132
251
+15.1%
Operating income
645
549
188
+17.5%
Operating margin
31.5%
31.8%
5.7%
Interest expense
111
81.5
105
+36.3%
Pre-tax income
532
476
67.0
+12.0%
Income tax
15.1
14.5
-291
+4.2%
Effective tax rate
2.8%
3.0%
-434.7%
Net income
454
637
305
-28.7%
Net margin
22.1%
36.8%
9.2%
Diluted EPS
$2.15
$3.02
$3.18
-28.8%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
938
988
417
-5.1%
Capital expenditure
39.0
31.4
75.5
+24.3%
Free cash flow
899
957
341
-6.0%
Free cash flow margin
43.8%
55.3%
10.3%
Cash from investing
-330
-173
42.0
Cash from financing
400
-313
-197
Depreciation and amortisation
43.1
36.1
116
+19.2%
Share-based compensation
89.7
66.0
265
+35.9%
Buybacks
216
133
56.4
+62.1%
Dividends paid
0.0
105
0.0
Dividend per share
n/a
n/a
$0.00
Diluted shares, weighted
202m
204m
85m
-1.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,658
2,843
2,430
-6.5%
Non-controlling interest
970
709
517
+36.9%
Redeemable equity
44.5
65.7
42.9
-32.2%
Debt
3,240
2,348
2,102
+38.0%
Operating lease liabilities
26.0
n/a
n/a
Other liabilities
1,506
909
776
+65.7%
Total liabilities and equity
8,445
6,875
5,868
+22.8%
Fixed assets
101
319
315
-68.3%
Goodwill
1,240
1,245
2,559
-0.4%
Intangible assets
228
631
664
-63.8%
Investments
373
358
70.0
+4.1%
Cash and equivalents
466
187
273
+149.1%
Receivables
116
279
304
-58.3%
Other assets
5,920
3,855
1,683
+53.6%
Total assets
8,445
6,875
5,868
+22.8%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.