Verisk Analytics (VRSK) FY2020 results: revenue $2.3 billion, down 13.0% on the year
Verisk Analytics, Inc. (VRSK) reported revenue of $2.3 billion for fiscal 2020, the year ended 31 December 2020, down 13.0% on the year before. Net income was $713 million, up 58.4%, and diluted earnings per share $4.31. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$2.3 billion
-13.0% on the year
FY2016FY2020
Operating margin
42.1%
26.7% a year earlier
FY2016FY2020
Net income
$713 million
+58.4% on the year
FY2016FY2020
Diluted EPS
$4.31
+59.6% on the year
FY2016FY2020
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
2,269
2,607
2,395
-13.0%
Cost of revenue
792
977
886
-18.9%
Gross profit
1,478
1,630
1,509
-9.4%
Gross margin
65.1%
62.5%
63.0%
Research and development
44.6
60.0
45.1
-25.7%
Selling, general and administrative
308
604
379
-48.9%
Operating income
956
697
834
+37.2%
Operating margin
42.1%
26.7%
34.8%
Interest expense
138
127
130
+9.0%
Pre-tax income
818
568
720
+44.0%
Income tax
165
118
121
+38.9%
Effective tax rate
20.1%
20.8%
16.8%
Net income
713
450
599
+58.4%
Net margin
31.4%
17.3%
25.0%
Diluted EPS
$4.31
$2.70
$3.56
+59.6%
$ 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
1,068
956
934
+11.7%
Capital expenditure
247
217
231
+13.8%
Free cash flow
821
740
703
+11.1%
Free cash flow margin
36.2%
28.4%
29.4%
Cash from investing
-596
-928
-265
Cash from financing
-445
10.9
-670
Depreciation and amortisation
192
186
165
+3.5%
Share-based compensation
47.6
42.7
38.5
+11.5%
Buybacks
349
300
439
+16.3%
Dividends paid
176
164
0.0
+7.5%
Diluted shares, weighted
165m
167m
168m
-0.7%
Shares outstanding at period end
163m
163m
164m
-0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,698
2,261
2,071
+19.3%
Non-controlling interest
0.0
n/a
n/a
Short-term borrowings
n/a
499
n/a
Debt
3,225
3,153
2,742
+2.3%
Operating lease liabilities
272
208
0.0
+30.5%
Finance lease liabilities
10.3
3.3
n/a
+212.1%
Other liabilities
1,357
931
1,087
+45.8%
Total liabilities and equity
7,562
7,055
5,900
+7.2%
Fixed assets
632
548
556
+15.4%
Goodwill
1,821
3,864
3,362
-52.9%
Intangible assets
1,385
1,399
1,228
-1.0%
Cash and equivalents
219
185
140
+18.5%
Receivables
432
442
356
-2.1%
Other assets
3,072
618
259
+397.4%
Total assets
7,562
7,055
5,900
+7.2%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.