Safety Insurance Group (SAFT) FY2020 results: revenue $846 million, down 3.6% on the year
Safety Insurance Group Inc. (SAFT) reported revenue of $846 million for fiscal 2020, the year ended 31 December 2020, down 3.6% on the year before. Net income was $138 million, up 38.8%, and diluted earnings per share $9.18. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$846 million
-3.6% on the year
FY2013FY2020
Operating margin
20.7%
14.1% a year earlier
FY2013FY2020
Net income
$138 million
+38.8% on the year
FY2013FY2020
Diluted EPS
$9.18
+42.1% 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
846
878
836
-3.6%
Operating income
175
124
104
+41.3%
Operating margin
20.7%
14.1%
12.5%
Interest expense
0.4
0.1
0.1
+388.9%
Pre-tax income
175
124
104
+41.3%
Income tax
36.6
24.1
21.1
+51.8%
Effective tax rate
20.9%
19.5%
20.2%
Net income
138
99.6
83.2
+38.8%
Net margin
16.3%
11.3%
9.9%
Diluted EPS
$9.18
$6.46
$5.43
+42.1%
$ 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
109
112
128
-2.7%
Capital expenditure
9.9
9.6
11.2
+3.7%
Free cash flow
99.5
103
117
-3.3%
Free cash flow margin
11.8%
11.7%
13.9%
Cash from investing
-35.5
-53.0
-83.0
Cash from financing
-64.6
-52.7
-48.8
Depreciation and amortisation
7.5
5.2
5.5
+45.7%
Share-based compensation
7.5
6.0
6.6
+23.7%
Dividends paid
54.6
52.7
48.8
+3.6%
Dividend per share
$3.60
$3.40
$3.20
+5.9%
Diluted shares, weighted
15m
15m
15m
-1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
885
808
719
+9.4%
Other liabilities
1,170
1,214
1,138
-3.7%
Total liabilities and equity
2,054
2,023
1,856
+1.6%
Fixed assets
22.1
20.0
15.6
+10.5%
Investments
0.4
0.0
0.0
Cash and equivalents
53.8
44.4
37.6
+21.1%
Other assets
1,978
1,958
1,803
+1.0%
Total assets
2,054
2,023
1,856
+1.6%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.