Safety Insurance Group (SAFT) FY2018 results: revenue $836 million, down 0.3% on the year
Safety Insurance Group Inc. (SAFT) reported revenue of $836 million for fiscal 2018, the year ended 31 December 2018, down 0.3% on the year before. Net income was $83 million, up 33.4%, and diluted earnings per share $5.43. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$836 million
-0.3% on the year
FY2011FY2018
Operating margin
12.5%
10.3% a year earlier
FY2011FY2018
Net income
$83 million
+33.4% on the year
FY2011FY2018
Diluted EPS
$5.43
+32.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
836
839
820
-0.3%
Operating income
104
86.7
93.3
+20.2%
Operating margin
12.5%
10.3%
11.4%
Interest expense
0.1
0.1
0.1
0.0%
Pre-tax income
104
86.7
93.3
+20.2%
Income tax
21.1
24.3
28.7
-13.4%
Effective tax rate
20.2%
28.0%
30.8%
Net income
83.2
62.4
64.6
+33.4%
Net margin
9.9%
7.4%
7.9%
Diluted EPS
$5.43
$4.10
$4.27
+32.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
128
82.0
98.8
+55.6%
Capital expenditure
11.2
6.0
4.9
+87.7%
Free cash flow
117
76.1
93.9
+53.1%
Free cash flow margin
13.9%
9.1%
11.5%
Cash from investing
-83.0
-14.9
-84.3
Cash from financing
-48.8
-45.5
-42.0
Depreciation and amortisation
5.5
5.0
4.4
+8.5%
Share-based compensation
6.6
5.2
4.3
+27.4%
Dividends paid
48.8
45.5
42.3
+7.4%
Dividend per share
$3.20
$3.00
$2.80
+6.7%
Diluted shares, weighted
15m
15m
15m
+0.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
719
701
671
+2.5%
Other liabilities
1,138
1,106
1,088
+2.8%
Total liabilities and equity
1,856
1,807
1,758
+2.7%
Fixed assets
15.6
9.9
8.9
+57.9%
Investments
0.0
0.0
0.0
Cash and equivalents
37.6
41.7
20.1
-9.9%
Other assets
1,803
1,756
1,729
+2.7%
Total assets
1,856
1,807
1,758
+2.7%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.