Ziff Davis (ZD) FY2020 results: revenue $1.2 billion, up 10.3% on the year
Ziff Davis, Inc. (ZD) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, up 10.3% on the year before. Net income was $151 million, down 31.1%, and diluted earnings per share $3.18. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$1.2 billion
+10.3% on the year
FY2013FY2020
Operating margin
11.9%
8.4% a year earlier
FY2013FY2020
Net income
$151 million
-31.1% on the year
FY2013FY2020
Diluted EPS
$3.18
-27.6% 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
1,159
1,050
1,207
+10.3%
Cost of revenue
178
187
201
-4.8%
Gross profit
980
863
1,006
+13.6%
Gross margin
84.6%
82.2%
83.3%
Research and development
57.1
44.7
48.4
+28.0%
Operating income
138
88.2
244
+56.8%
Operating margin
11.9%
8.4%
20.2%
Interest expense
58.1
26.1
63.5
+122.6%
Pre-tax income
78.3
54.8
178
+42.9%
Income tax
38.4
13.8
44.8
+178.7%
Effective tax rate
48.9%
25.1%
25.2%
Net income
151
219
129
-31.1%
Net margin
13.0%
20.8%
10.7%
Diluted EPS
$3.18
$4.39
$2.59
-27.6%
$ 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
480
413
401
+16.4%
Capital expenditure
92.6
70.6
56.4
+31.1%
Free cash flow
388
342
345
+13.3%
Free cash flow margin
33.4%
32.6%
28.6%
Cash from investing
-586
-505
-407
Cash from financing
-235
457
-131
Depreciation and amortisation
229
232
187
-1.4%
Share-based compensation
24.0
23.9
28.1
+0.4%
Buybacks
276
20.8
47.1
+1,225.1%
Dividends paid
0.0
43.9
82.6
Dividend per share
$0.00
$0.90
$1.68
Diluted shares, weighted
47m
49m
49m
-3.9%
Shares outstanding at period end
44m
48m
47m
-6.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,211
1,311
1,036
-7.6%
Debt
1,579
1,448
1,013
+9.0%
Operating lease liabilities
73.6
104
0.0
-29.3%
Other liabilities
802
642
512
+24.8%
Total liabilities and equity
3,665
3,506
2,561
+4.5%
Fixed assets
132
128
98.8
+2.9%
Goodwill
1,525
1,313
1,380
+16.1%
Intangible assets
697
525
495
+32.8%
Investments
98.2
100
83.8
-1.9%
Cash and equivalents
176
576
209
-69.3%
Receivables
310
262
222
+18.2%
Other assets
728
602
71.9
+20.8%
Total assets
3,665
3,506
2,561
+4.5%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.