United Fire Group (UFCS) FY2015 results: revenue $899 million, down 4.5% on the year
United Fire Group Inc. (UFCS) reported revenue of $899 million for fiscal 2015, the year ended 31 December 2015, down 4.5% on the year before. Net income was $89 million, up 50.7%, and diluted earnings per share $3.53. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$899 million
-4.5% on the year
FY2009FY2015
Operating margin
12.8%
8.1% a year earlier
FY2009FY2015
Net income
$89 million
+50.7% on the year
FY2009FY2015
Diluted EPS
$3.53
+52.2% on the year
FY2009FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
899
942
877
-4.5%
Operating income
115
76.5
102
+50.9%
Operating margin
12.8%
8.1%
11.6%
Interest expense
0.0
0.0
0.0
Pre-tax income
115
76.5
102
+50.9%
Income tax
30.1
17.3
25.8
+73.4%
Effective tax rate
26.0%
22.7%
25.3%
Net income
89.1
59.1
76.1
+50.7%
Net margin
9.9%
6.3%
8.7%
Diluted EPS
$3.53
$2.32
$2.98
+52.2%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
190
151
161
+25.6%
Capital expenditure
9.7
8.2
8.5
+19.0%
Free cash flow
180
143
153
+26.0%
Free cash flow margin
20.0%
15.2%
17.4%
Cash from investing
-36.3
-58.9
-102
Cash from financing
-138
-94.0
-74.8
Depreciation and amortisation
6.5
6.9
5.6
-6.1%
Share-based compensation
2.5
1.9
1.8
+29.1%
Buybacks
2.4
12.9
1.6
-81.3%
Dividends paid
21.7
19.7
17.5
+10.1%
Dividend per share
$0.86
$0.78
$0.69
+10.3%
Diluted shares, weighted
25m
25m
26m
-1.0%
Shares outstanding at period end
25m
25m
25m
+0.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
879
817
783
+7.5%
Other liabilities
3,011
3,039
2,938
-0.9%
Total liabilities and equity
3,890
3,857
3,721
+0.9%
Fixed assets
53.2
49.2
47.2
+8.1%
Goodwill
15.1
15.1
15.1
0.0%
Intangible assets
10.4
11.2
12.0
-6.9%
Securities held for sale or to maturity
2,826
2,843
2,752
-0.6%
Trading assets
17.0
20.9
12.4
-18.9%
Cash and equivalents
89.5
66.7
92.2
+34.1%
Other assets
880
850
790
+3.5%
Total assets
3,890
3,857
3,721
+0.9%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.