TripAdvisor (TRIP) FY2019 results: revenue $1.6 billion, down 3.4% on the year
TripAdvisor, Inc. (TRIP) reported revenue of $1.6 billion for fiscal 2019, the year ended 31 December 2019, down 3.4% on the year before. Net income was $126 million, up 11.5%, and diluted earnings per share $0.89. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2020.
Revenue
$1.6 billion
-3.4% on the year
FY2012FY2019
Operating margin
12.0%
11.3% a year earlier
FY2012FY2019
Net income
$126 million
+11.5% on the year
FY2012FY2019
Diluted EPS
$0.89
+9.9% 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
1,560
1,615
1,556
-3.4%
Cost of revenue
94.0
86.0
72.0
+9.3%
Gross profit
1,466
1,529
1,484
-4.1%
Gross margin
94.0%
94.7%
95.4%
Operating income
187
183
124
+2.2%
Operating margin
12.0%
11.3%
8.0%
Interest expense
7.0
12.0
15.0
-41.7%
Pre-tax income
194
173
110
+12.1%
Income tax
68.0
60.0
129
+13.3%
Effective tax rate
35.1%
34.7%
117.3%
Net income
126
113
-19.0
+11.5%
Net margin
8.1%
7.0%
-1.2%
Diluted EPS
$0.89
$0.81
-$0.14
+9.9%
$ 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
424
405
238
+4.7%
Capital expenditure
83.0
61.0
64.0
+36.1%
Free cash flow
341
344
174
-0.9%
Free cash flow margin
21.9%
21.3%
11.2%
Cash from investing
-176
-49.0
6.0
Cash from financing
-580
-358
-200
Depreciation and amortisation
126
116
111
+8.6%
Share-based compensation
124
118
96.0
+5.1%
Buybacks
60.0
100
250
-40.0%
Dividends paid
488
n/a
n/a
Dividend per share
$3.50
$0.00
$0.00
Diluted shares, weighted
141m
140m
140m
+0.2%
Shares outstanding at period end
125m
125m
126m
-0.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,161
1,471
1,363
-21.1%
Short-term borrowings
n/a
n/a
7.0
Debt
0.0
0.0
230
Operating lease liabilities
64.0
n/a
n/a
Finance lease liabilities
78.0
n/a
n/a
Other liabilities
681
696
672
-2.2%
Total liabilities and equity
1,984
2,167
2,272
-8.4%
Fixed assets
270
253
263
+6.7%
Goodwill
840
756
758
+11.1%
Intangible assets
110
118
142
-6.8%
Investments
0.0
15.0
62.0
Cash and equivalents
319
655
673
-51.3%
Receivables
176
205
230
-14.1%
Other assets
269
165
144
+63.0%
Total assets
1,984
2,167
2,272
-8.4%
10-K for the year ended 31 December 2019, filed 19 February 2020: the filing.