TripAdvisor (TRIP) FY2020 results: revenue $604 million, down 61.3% on the year
TripAdvisor, Inc. (TRIP) reported revenue of $604 million for fiscal 2020, the year ended 31 December 2020, down 61.3% on the year before. Net income was -$289 million, and diluted earnings per share $-2.14. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2021.
Revenue
$604 million
-61.3% on the year
FY2013FY2020
Operating margin
-54.5%
12.0% a year earlier
FY2013FY2020
Net income
-$289 million
FY2013FY2020
Diluted EPS
-$2.14
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
604
1,560
1,615
-61.3%
Cost of revenue
55.0
94.0
86.0
-41.5%
Gross profit
549
1,466
1,529
-62.6%
Gross margin
90.9%
94.0%
94.7%
Operating income
-329
187
183
Operating margin
-54.5%
12.0%
11.3%
Interest expense
35.0
7.0
12.0
+400.0%
Pre-tax income
-369
194
173
Income tax
-80.0
68.0
60.0
Effective tax rate
n/a
35.1%
34.7%
Net income
-289
126
113
Net margin
-47.8%
8.1%
7.0%
Diluted EPS
-$2.14
$0.89
$0.81
$ 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
-194
424
405
Capital expenditure
55.0
83.0
61.0
-33.7%
Free cash flow
-249
341
344
Free cash flow margin
-41.2%
21.9%
21.3%
Cash from investing
-56.0
-176
-49.0
Cash from financing
341
-580
-358
Depreciation and amortisation
125
126
116
-0.8%
Share-based compensation
109
124
118
-12.1%
Buybacks
115
60.0
100
+91.7%
Dividends paid
n/a
488
n/a
Dividend per share
$0.00
$3.50
$0.00
Diluted shares, weighted
135m
141m
140m
-4.1%
Shares outstanding at period end
122m
125m
125m
-2.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
886
1,161
1,471
-23.7%
Debt
491
0.0
0.0
Operating lease liabilities
46.0
64.0
n/a
-28.1%
Finance lease liabilities
71.0
78.0
n/a
-9.0%
Other liabilities
475
681
696
-30.2%
Total liabilities and equity
1,969
1,984
2,167
-0.8%
Fixed assets
240
270
253
-11.1%
Goodwill
862
840
756
+2.6%
Intangible assets
86.0
110
118
-21.8%
Investments
0.0
0.0
15.0
Cash and equivalents
418
319
655
+31.0%
Receivables
70.0
176
205
-60.2%
Other assets
293
269
165
+8.9%
Total assets
1,969
1,984
2,167
-0.8%
10-K for the year ended 31 December 2020, filed 19 February 2021: the filing.