United Fire Group (UFCS) FY2021 results: revenue $1.1 billion, down 0.2% on the year
United Fire Group Inc. (UFCS) reported revenue of $1.1 billion for fiscal 2021, the year ended 31 December 2021, down 0.2% on the year before. Net income was $81 million, and diluted earnings per share $3.16. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$1.1 billion
-0.2% on the year
FY2014FY2021
Operating margin
9.1%
-15.9% a year earlier
FY2014FY2021
Net income
$81 million
FY2014FY2021
Diluted EPS
$3.16
FY2014FY2021
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
29.9
41.4
93.8
-27.8%
Capital expenditure
14.0
18.9
32.4
-25.9%
Free cash flow
15.9
22.6
61.3
-29.4%
Free cash flow margin
1.5%
2.1%
5.1%
Cash from investing
31.7
-92.9
4.5
Cash from financing
-17.5
18.7
-42.0
Depreciation and amortisation
6.6
6.7
11.2
-1.3%
Share-based compensation
3.4
5.0
6.2
-31.0%
Buybacks
2.0
2.7
11.7
-26.8%
Dividends paid
15.1
28.5
32.7
-47.2%
Dividend per share
$0.60
$1.14
$1.30
-47.4%
Diluted shares, weighted
26m
25m
26m
+2.0%
Shares outstanding at period end
25m
25m
25m
+0.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
879
825
910
+6.5%
Other liabilities
2,134
2,245
2,103
-4.9%
Total liabilities and equity
3,013
3,070
3,013
-1.9%
Fixed assets
138
130
117
+6.0%
Goodwill
0.0
0.0
15.1
Intangible assets
6.0
6.7
7.5
-10.5%
Securities held for sale or to maturity
1,720
1,825
1,720
-5.8%
Loans
47.1
47.6
n/a
-1.0%
Trading assets
n/a
0.0
15.3
Cash and equivalents
132
87.9
121
+50.2%
Other assets
970
972
1,018
-0.2%
Total assets
3,013
3,070
3,013
-1.9%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.