Perdoceo Education (PRDO) FY2020 results: revenue $687 million, up 9.5% on the year
Perdoceo Education Corp. (PRDO) reported revenue of $687 million for fiscal 2020, the year ended 31 December 2020, up 9.5% on the year before. Net income was $124 million, up 77.6%, and diluted earnings per share $1.74. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$687 million
+9.5% on the year
FY2013FY2020
Operating margin
20.8%
13.8% a year earlier
FY2013FY2020
Net income
$124 million
+77.6% on the year
FY2013FY2020
Diluted EPS
$1.74
+79.4% 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
687
628
581
+9.5%
Operating income
143
86.5
71.3
+65.3%
Operating margin
20.8%
13.8%
12.3%
Interest expense
0.2
0.2
0.7
0.0%
Income tax
22.5
22.4
18.6
+0.2%
Net income
124
70.0
55.2
+77.6%
Net margin
18.1%
11.1%
9.5%
Diluted EPS
$1.74
$0.97
$0.77
+79.4%
$ 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
180
73.1
57.0
+146.2%
Capital expenditure
9.8
5.2
6.7
+88.8%
Free cash flow
170
67.9
50.3
+150.6%
Free cash flow margin
24.8%
10.8%
8.6%
Cash from investing
-166
7.7
-41.5
Cash from financing
-13.1
-4.8
-1.7
Depreciation and amortisation
14.8
9.1
9.4
+61.7%
Share-based compensation
13.4
9.3
5.6
+44.3%
Buybacks
17.9
3.9
n/a
+361.0%
Diluted shares, weighted
71m
72m
71m
-1.1%
Shares outstanding at period end
70m
70m
70m
-0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
556
431
355
+28.9%
Debt
0.0
0.0
0.0
Operating lease liabilities
43.4
52.4
n/a
-17.2%
Other liabilities
122
115
127
+5.8%
Total liabilities and equity
722
599
482
+20.4%
Fixed assets
27.8
26.0
30.0
+6.7%
Goodwill
118
87.4
87.4
+35.4%
Intangible assets
15.5
7.9
7.9
+96.5%
Investments
301
185
196
+62.1%
Cash and equivalents
106
109
32.4
-2.8%
Receivables
n/a
55.0
28.8
Inventory
0.6
0.6
0.8
+3.5%
Other assets
153
128
98.9
+19.4%
Total assets
722
599
482
+20.4%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.