Match Group (MTCH) FY2020 results: revenue $2.4 billion, up 16.6% on the year
Match Group, Inc. (MTCH) reported revenue of $2.4 billion for fiscal 2020, the year ended 31 December 2020, up 16.6% on the year before. Net income was $162 million, down 64.2%, and diluted earnings per share $0.66. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$2.4 billion
+16.6% on the year
FY2013FY2020
Operating margin
31.2%
31.5% a year earlier
FY2013FY2020
Net income
$162 million
-64.2% on the year
FY2013FY2020
Diluted EPS
$0.66
-69.3% 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
2,391
2,051
1,730
+16.6%
Cost of revenue
636
1,127
911
-43.6%
Gross profit
1,755
n/a
n/a
Gross margin
73.4%
n/a
n/a
Research and development
170
152
132
+11.7%
Operating income
746
645
549
+15.5%
Operating margin
31.2%
31.5%
31.8%
Interest expense
131
111
81.5
+17.7%
Pre-tax income
631
532
476
+18.5%
Income tax
43.3
15.1
14.5
+187.0%
Effective tax rate
6.9%
2.8%
3.0%
Net income
162
454
637
-64.2%
Net margin
6.8%
22.1%
36.8%
Diluted EPS
$0.66
$2.15
$3.02
-69.3%
$ 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
802
938
988
-14.5%
Capital expenditure
42.4
39.0
31.4
+8.6%
Free cash flow
760
899
957
-15.5%
Free cash flow margin
31.8%
43.8%
55.3%
Cash from investing
n/a
-330
-173
Cash from financing
n/a
400
-313
Depreciation and amortisation
48.8
43.1
36.1
+13.3%
Share-based compensation
102
89.7
66.0
+14.0%
Buybacks
0.0
216
133
Dividends paid
0.0
0.0
105
Diluted shares, weighted
256m
202m
204m
+26.9%
Shares outstanding at period end
267m
n/a
n/a
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-1,414
2,658
2,843
Non-controlling interest
1.0
970
709
-99.9%
Redeemable equity
0.6
44.5
65.7
-98.6%
Debt
3,841
3,240
2,348
+18.5%
Operating lease liabilities
83.5
26.0
n/a
+221.3%
Other liabilities
535
1,506
909
-64.5%
Total liabilities and equity
3,046
8,445
6,875
-63.9%
Fixed assets
108
101
319
+6.7%
Goodwill
1,271
1,240
1,245
+2.5%
Intangible assets
231
228
631
+1.1%
Investments
0.0
373
358
Cash and equivalents
739
466
187
+58.7%
Receivables
137
116
279
+17.7%
Other assets
561
5,920
3,855
-90.5%
Total assets
3,046
8,445
6,875
-63.9%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.