Strategic Education (STRA) FY2021 results: revenue $1.1 billion, up 10.1% on the year
Strategic Education, Inc. (STRA) reported revenue of $1.1 billion for fiscal 2021, the year ended 31 December 2021, up 10.1% on the year before. Net income was $55 million, down 36.1%, and diluted earnings per share $2.28. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.
Revenue
$1.1 billion
+10.1% on the year
FY2016FY2021
Operating margin
6.5%
10.6% a year earlier
FY2016FY2021
Net income
$55 million
-36.1% on the year
FY2016FY2021
Diluted EPS
$2.28
-39.5% on the year
FY2016FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
181
143
202
+26.3%
Capital expenditure
49.4
46.8
38.7
+5.6%
Free cash flow
131
96.1
163
+36.4%
Free cash flow margin
11.6%
9.4%
16.4%
Cash from investing
-33.1
-642
-38.1
Cash from financing
-67.9
279
-55.8
Depreciation and amortisation
59.1
51.8
49.5
+14.1%
Share-based compensation
18.1
14.6
12.2
+24.2%
Buybacks
5.9
0.2
0.0
+2,290.7%
Dividends paid
59.0
56.0
46.6
+5.5%
Dividend per share
$2.40
$2.40
$2.10
0.0%
Diluted shares, weighted
24m
23m
22m
+5.5%
Shares outstanding at period end
25m
24m
22m
+0.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,714
1,748
1,463
-2.0%
Debt
142
142
0.0
-0.1%
Operating lease liabilities
163
106
80.6
+53.4%
Other liabilities
287
300
246
-4.0%
Total liabilities and equity
2,306
2,296
1,789
+0.4%
Fixed assets
151
159
117
-5.2%
Goodwill
1,286
1,319
732
-2.5%
Intangible assets
276
326
273
-15.3%
Investments
29.9
37.8
71.5
-21.0%
Cash and equivalents
269
188
420
+43.4%
Receivables
51.3
50.2
51.5
+2.2%
Other assets
243
217
125
+12.2%
Total assets
2,306
2,296
1,789
+0.4%
10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.