Verisk Analytics (VRSK) FY2019 results: revenue $2.6 billion, up 8.9% on the year
Verisk Analytics, Inc. (VRSK) reported revenue of $2.6 billion for fiscal 2019, the year ended 31 December 2019, up 8.9% on the year before. Net income was $450 million, down 24.9%, and diluted earnings per share $2.70. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$2.6 billion
+8.9% on the year
FY2016FY2019
Operating margin
26.7%
34.8% a year earlier
FY2016FY2019
Net income
$450 million
-24.9% on the year
FY2016FY2019
Diluted EPS
$2.70
-24.2% on the year
FY2016FY2019
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
2,607
2,395
2,145
+8.9%
Cost of revenue
977
886
784
+10.2%
Gross profit
1,630
1,509
1,361
+8.0%
Gross margin
62.5%
63.0%
63.5%
Research and development
60.0
45.1
37.4
+33.0%
Selling, general and administrative
604
379
323
+59.4%
Operating income
697
834
801
-16.4%
Operating margin
26.7%
34.8%
37.3%
Interest expense
127
130
119
-2.2%
Pre-tax income
568
720
691
-21.0%
Income tax
118
121
136
-2.1%
Effective tax rate
20.8%
16.8%
19.7%
Net income
450
599
555
-24.9%
Net margin
17.3%
25.0%
25.9%
Diluted EPS
$2.70
$3.56
$3.29
-24.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
956
934
744
+2.3%
Capital expenditure
217
231
184
-6.1%
Free cash flow
740
703
560
+5.1%
Free cash flow margin
28.4%
29.4%
26.1%
Cash from investing
-928
-265
-1,106
Cash from financing
10.9
-670
362
Depreciation and amortisation
186
165
136
+12.3%
Share-based compensation
42.7
38.5
31.8
+10.9%
Buybacks
300
439
276
-31.6%
Dividends paid
164
0.0
0.0
Diluted shares, weighted
167m
168m
169m
-1.0%
Shares outstanding at period end
163m
164m
165m
-0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,261
2,071
1,925
+9.2%
Short-term borrowings
499
n/a
n/a
Debt
3,153
2,742
3,032
+15.0%
Operating lease liabilities
208
0.0
n/a
Finance lease liabilities
3.3
n/a
n/a
Other liabilities
931
1,087
1,063
-14.4%
Total liabilities and equity
7,055
5,900
6,020
+19.6%
Fixed assets
548
556
478
-1.4%
Goodwill
3,864
3,362
3,369
+15.0%
Intangible assets
1,399
1,228
1,345
+13.9%
Investments
n/a
n/a
3.8
Cash and equivalents
185
140
142
+32.3%
Receivables
442
356
346
+23.9%
Other assets
618
259
336
+138.3%
Total assets
7,055
5,900
6,020
+19.6%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.