New York Times (NYT) FY2019 results: revenue $1.8 billion, up 3.6% on the year
New York Times Co. (NYT) reported revenue of $1.8 billion for fiscal 2019, the year ended 29 December 2019, up 3.6% on the year before. Net income was $140 million, up 11.4%, and diluted earnings per share $0.83. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$1.8 billion
+3.6% on the year
FY2012FY2019
Operating margin
9.7%
10.9% a year earlier
FY2012FY2019
Net income
$140 million
+11.4% on the year
FY2012FY2019
Diluted EPS
$0.83
+10.7% 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
1,812
1,749
1,676
+3.6%
Cost of revenue
0.0
0.0
616
Gross profit
1,812
1,749
1,059
+3.6%
Gross margin
100.0%
100.0%
63.2%
Research and development
106
84.1
n/a
+26.5%
Selling, general and administrative
0.0
0.0
815
Operating income
176
190
177
-7.7%
Operating margin
9.7%
10.9%
10.5%
Pre-tax income
164
176
111
-6.6%
Income tax
24.5
48.6
104
-49.6%
Effective tax rate
14.9%
27.6%
93.5%
Net income
140
126
4.3
+11.4%
Net margin
7.7%
7.2%
0.3%
Diluted EPS
$0.83
$0.75
$0.03
+10.7%
$ 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
190
157
86.7
+20.9%
Capital expenditure
45.4
77.5
84.8
-41.4%
Free cash flow
144
79.6
2.0
+81.4%
Free cash flow margin
8.0%
4.6%
0.1%
Cash from investing
93.2
-101
14.1
Cash from financing
-295
3.8
-26.0
Depreciation and amortisation
60.7
59.0
61.9
+2.8%
Share-based compensation
12.9
13.0
14.8
-0.1%
Buybacks
n/a
0.0
0.0
Dividends paid
31.6
26.4
26.0
+19.6%
Dividend per share
$0.20
$0.16
$0.16
+25.0%
Diluted shares, weighted
168m
167m
164m
+0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,172
1,041
897
+12.6%
Non-controlling interest
1.9
1.9
0.1
0.0%
Debt
0.0
247
243
Operating lease liabilities
55.1
0.0
n/a
Other liabilities
860
908
959
-5.2%
Total liabilities and equity
2,089
2,197
2,100
-4.9%
Fixed assets
627
639
641
-1.8%
Goodwill
139
140
144
-1.1%
Investments
453
585
550
-22.5%
Cash and equivalents
230
242
183
-4.6%
Receivables
213
222
185
-4.1%
Other assets
426
369
397
+15.4%
Total assets
2,089
2,197
2,100
-4.9%
10-K for the year ended 29 December 2019, filed 25 February 2021: the filing.