Safety Insurance Group (SAFT) FY2019 results: revenue $878 million, up 4.9% on the year
Safety Insurance Group Inc. (SAFT) reported revenue of $878 million for fiscal 2019, the year ended 31 December 2019, up 4.9% on the year before. Net income was $100 million, up 19.7%, and diluted earnings per share $6.46. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$878 million
+4.9% on the year
FY2012FY2019
Operating margin
14.1%
12.5% a year earlier
FY2012FY2019
Net income
$100 million
+19.7% on the year
FY2012FY2019
Diluted EPS
$6.46
+19.0% 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
878
836
839
+4.9%
Operating income
124
104
86.7
+18.6%
Operating margin
14.1%
12.5%
10.3%
Interest expense
0.1
0.1
0.1
0.0%
Pre-tax income
124
104
86.7
+18.6%
Income tax
24.1
21.1
24.3
+14.4%
Effective tax rate
19.5%
20.2%
28.0%
Net income
99.6
83.2
62.4
+19.7%
Net margin
11.3%
9.9%
7.4%
Diluted EPS
$6.46
$5.43
$4.10
+19.0%
$ 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
112
128
82.0
-11.9%
Capital expenditure
9.6
11.2
6.0
-14.2%
Free cash flow
103
117
76.1
-11.7%
Free cash flow margin
11.7%
13.9%
9.1%
Cash from investing
-53.0
-83.0
-14.9
Cash from financing
-52.7
-48.8
-45.5
Depreciation and amortisation
5.2
5.5
5.0
-5.5%
Share-based compensation
6.0
6.6
5.2
-8.3%
Dividends paid
52.7
48.8
45.5
+7.9%
Dividend per share
$3.40
$3.20
$3.00
+6.2%
Diluted shares, weighted
15m
15m
15m
+0.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
808
719
701
+12.5%
Other liabilities
1,214
1,138
1,106
+6.7%
Total liabilities and equity
2,023
1,856
1,807
+9.0%
Fixed assets
20.0
15.6
9.9
+28.4%
Investments
0.0
0.0
0.0
Cash and equivalents
44.4
37.6
41.7
+18.2%
Other assets
1,958
1,803
1,756
+8.6%
Total assets
2,023
1,856
1,807
+9.0%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.