Strategic Education (STRA) FY2020 results: revenue $1.0 billion, up 3.1% on the year
Strategic Education, Inc. (STRA) reported revenue of $1.0 billion for fiscal 2020, the year ended 31 December 2020, up 3.1% on the year before. Net income was $86 million, up 6.3%, and diluted earnings per share $3.77. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$1.0 billion
+3.1% on the year
FY2016FY2020
Operating margin
10.6%
11.1% a year earlier
FY2016FY2020
Net income
$86 million
+6.3% on the year
FY2016FY2020
Diluted EPS
$3.77
+2.7% on the year
FY2016FY2020
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
1,028
997
634
+3.1%
Operating income
109
111
-22.7
-1.0%
Operating margin
10.6%
11.1%
-3.6%
Pre-tax income
114
124
-19.1
-7.9%
Income tax
27.7
42.6
-3.5
-35.0%
Effective tax rate
24.3%
34.4%
n/a
Net income
86.3
81.1
-15.7
+6.3%
Net margin
8.4%
8.1%
-2.5%
Diluted EPS
$3.77
$3.67
-$1.03
+2.7%
$ 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
143
202
46.9
-29.3%
Capital expenditure
46.8
38.7
27.5
+21.0%
Free cash flow
96.1
163
19.3
-41.2%
Free cash flow margin
9.4%
16.4%
3.0%
Cash from investing
-642
-38.1
130
Cash from financing
279
-55.8
-21.2
Depreciation and amortisation
51.8
49.5
31.4
+4.6%
Share-based compensation
14.6
12.2
15.5
+20.1%
Buybacks
0.2
0.0
0.0
Dividends paid
56.0
46.6
27.8
+20.0%
Dividend per share
$2.40
$2.10
$1.50
+14.3%
Diluted shares, weighted
23m
22m
15m
+3.5%
Shares outstanding at period end
24m
22m
22m
+11.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,748
1,463
1,425
+19.5%
Debt
142
0.0
0.0
Operating lease liabilities
106
80.6
n/a
+31.8%
Other liabilities
300
246
236
+21.7%
Total liabilities and equity
2,296
1,789
1,661
+28.3%
Fixed assets
159
117
123
+35.7%
Goodwill
1,319
732
733
+80.1%
Intangible assets
326
273
328
+19.6%
Investments
37.8
71.5
74.8
-47.1%
Cash and equivalents
188
420
312
-55.3%
Receivables
50.2
51.5
55.7
-2.6%
Other assets
217
125
35.2
+73.8%
Total assets
2,296
1,789
1,661
+28.3%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.