Travelers Companies (TRV) FY2020 results: revenue $32.0 billion, up 1.3% on the year
Travelers Companies, Inc. (TRV) reported revenue of $32.0 billion for fiscal 2020, the year ended 31 December 2020, up 1.3% on the year before. Net income was $2.7 billion, up 2.9%, and diluted earnings per share $10.52. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$32.0 billion
+1.3% on the year
FY2013FY2020
Operating margin
10.1%
9.9% a year earlier
FY2013FY2020
Net income
$2.7 billion
+2.9% on the year
FY2013FY2020
Diluted EPS
$10.52
+6.0% 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
31,981
31,581
30,282
+1.3%
Selling, general and administrative
4,509
4,365
4,297
+3.3%
Operating income
3,237
3,138
2,961
+3.2%
Operating margin
10.1%
9.9%
9.8%
Interest expense
339
344
352
-1.5%
Pre-tax income
3,237
3,138
2,961
+3.2%
Income tax
540
516
438
+4.7%
Effective tax rate
16.7%
16.4%
14.8%
Net income
2,697
2,622
2,523
+2.9%
Net margin
8.4%
8.3%
8.3%
Diluted EPS
$10.52
$9.92
$9.28
+6.0%
$ 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
6,519
5,205
4,380
+25.2%
Cash from investing
-4,892
-2,902
-2,329
Cash from financing
-1,416
-2,187
-2,012
Depreciation and amortisation
789
763
803
+3.4%
Share-based compensation
148
142
140
+4.2%
Buybacks
625
1,500
1,270
-58.3%
Dividends paid
861
844
814
+2.0%
Diluted shares, weighted
255m
262m
270m
-2.9%
Shares outstanding at period end
252m
256m
264m
-1.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
29,201
25,943
22,894
+12.6%
Debt
6,550
6,558
6,564
-0.1%
Other liabilities
81,013
77,621
74,775
+4.4%
Total liabilities and equity
116,764
110,122
104,233
+6.0%
Goodwill
3,976
3,961
3,937
+0.4%
Intangible assets
317
330
345
-3.9%
Securities held for sale or to maturity
74,003
68,134
63,464
+8.6%
Cash and equivalents
721
494
373
+46.0%
Other assets
37,747
37,203
36,114
+1.5%
Total assets
116,764
110,122
104,233
+6.0%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.