New York Times (NYT) FY2020 results: revenue $1.8 billion, down 1.6% on the year
New York Times Co. (NYT) reported revenue of $1.8 billion for fiscal 2020, the year ended 27 December 2020, down 1.6% on the year before. Net income was $100 million, down 28.5%, and diluted earnings per share $0.60. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$1.8 billion
-1.6% on the year
FY2013FY2020
Operating margin
9.9%
9.7% a year earlier
FY2013FY2020
Net income
$100 million
-28.5% on the year
FY2013FY2020
Diluted EPS
$0.60
-27.7% 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
1,784
1,812
1,749
-1.6%
Cost of revenue
960
0.0
0.0
Gross profit
823
1,812
1,749
-54.6%
Gross margin
46.2%
100.0%
100.0%
Research and development
133
106
84.1
+25.3%
Selling, general and administrative
n/a
0.0
0.0
Operating income
176
176
190
+0.4%
Operating margin
9.9%
9.7%
10.9%
Pre-tax income
115
164
176
-29.8%
Income tax
14.6
24.5
48.6
-40.4%
Effective tax rate
12.6%
14.9%
27.6%
Net income
100
140
126
-28.5%
Net margin
5.6%
7.7%
7.2%
Diluted EPS
$0.60
$0.83
$0.75
-27.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
298
190
157
+56.9%
Capital expenditure
34.5
45.4
77.5
-24.2%
Free cash flow
263
144
79.6
+82.4%
Free cash flow margin
14.8%
8.0%
4.6%
Cash from investing
-199
93.2
-101
Cash from financing
-45.0
-295
3.8
Depreciation and amortisation
62.1
60.7
59.0
+2.4%
Share-based compensation
14.4
12.9
13.0
+11.5%
Buybacks
0.0
n/a
0.0
Dividends paid
38.4
31.6
26.4
+21.6%
Dividend per share
$0.24
$0.20
$0.16
+20.0%
Diluted shares, weighted
168m
168m
167m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,326
1,172
1,041
+13.1%
Non-controlling interest
2.6
1.9
1.9
+39.5%
Debt
0.0
0.0
247
Operating lease liabilities
52.7
55.1
0.0
-4.4%
Other liabilities
927
860
908
+7.8%
Total liabilities and equity
2,308
2,089
2,197
+10.5%
Fixed assets
595
627
639
-5.2%
Goodwill
172
139
140
+23.8%
Investments
596
453
585
+31.4%
Cash and equivalents
286
230
242
+24.1%
Receivables
184
213
222
-13.9%
Other assets
476
426
369
+11.7%
Total assets
2,308
2,089
2,197
+10.5%
10-K for the year ended 27 December 2020, filed 23 February 2022: the filing.