Perdoceo Education (PRDO) FY2019 results: revenue $628 million, up 8.0% on the year
Perdoceo Education Corp. (PRDO) reported revenue of $628 million for fiscal 2019, the year ended 31 December 2019, up 8.0% on the year before. Net income was $70 million, up 26.8%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$628 million
+8.0% on the year
FY2012FY2019
Operating margin
13.8%
12.3% a year earlier
FY2012FY2019
Net income
$70 million
+26.8% on the year
FY2012FY2019
Diluted EPS
$0.97
+26.0% 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
628
581
596
+8.0%
Operating income
86.5
71.3
34.1
+21.3%
Operating margin
13.8%
12.3%
5.7%
Interest expense
0.2
0.7
0.5
-75.5%
Income tax
22.4
18.6
67.1
+20.8%
Net income
70.0
55.2
-31.9
+26.8%
Net margin
11.1%
9.5%
-5.3%
Diluted EPS
$0.97
$0.77
-$0.46
+26.0%
$ 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
73.1
57.0
-21.8
+28.2%
Capital expenditure
5.2
6.7
6.3
-23.1%
Free cash flow
67.9
50.3
-28.1
+35.1%
Free cash flow margin
10.8%
8.6%
-4.7%
Cash from investing
7.7
-41.5
-11.6
Cash from financing
-4.8
-1.7
1.5
Depreciation and amortisation
9.1
9.4
14.0
-2.7%
Share-based compensation
9.3
5.6
5.0
+65.2%
Buybacks
3.9
n/a
n/a
Diluted shares, weighted
72m
71m
69m
+0.8%
Shares outstanding at period end
70m
70m
69m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
431
355
296
+21.4%
Debt
0.0
0.0
0.0
Operating lease liabilities
52.4
n/a
n/a
Other liabilities
115
127
151
-9.3%
Total liabilities and equity
599
482
447
+24.2%
Fixed assets
26.0
30.0
33.2
-13.5%
Goodwill
87.4
87.4
87.4
0.0%
Intangible assets
7.9
7.9
7.9
0.0%
Investments
185
196
156
-5.6%
Cash and equivalents
109
32.4
18.1
+235.5%
Receivables
55.0
28.8
18.9
+91.4%
Inventory
0.6
0.8
1.1
-24.5%
Other assets
128
98.9
124
+29.6%
Total assets
599
482
447
+24.2%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.