FOCS - Focus Financial Partners Inc.
Price:
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--
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$56.00
DETAILS
HIGH:
$75.00
LOW:
$37.00
MEDIAN:
$56.00
CONSENSUS:
$56.00
UPSIDE:
5.68%
| Metric | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 2,143.3 | 1,798.0 | 1,361.3 | 1,218.3 | 910.9 | 662.9 | 485.4 | 382.3 |
| Cost of Revenue | 1,260.2 | 1,082.6 | 825.7 | 736.2 | 590.8 | 429.2 | 293.0 | 241.4 |
| Gross Profit | 883.1 | 715.4 | 535.6 | 482.2 | 320.1 | 233.7 | 192.4 | 141.0 |
| Operating Expenses | ||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 376.4 | 297.6 | 236.4 | 232.9 | 170.3 | 134.6 | 98.6 | 79.1 |
| Other Expenses | 277.1 | 202.5 | 160.2 | 142.8 | (2.4) | (3.2) | 1.4 | 0.3 |
| Operating Expenses | 653.5 | 500.1 | 396.6 | 375.7 | 269.0 | 205.7 | 155.3 | 119.8 |
| Operating Income | ||||||||
| Operating Income | 215.3 | 211.9 | 119.8 | 103.9 | 44.4 | 5.8 | 38.3 | 21.3 |
| Interest Expense | 99.9 | 55.0 | 41.7 | 58.3 | 56.4 | 41.9 | 21.3 | 10.0 |
| Interest Income | 0.8 | 0.4 | 0.5 | 1.2 | 1.3 | 0.2 | 0.1 | 0.1 |
| Profitability | ||||||||
| EBITDA | 476.4 | 411.1 | 296.8 | 245.3 | 145.8 | 93.5 | 93.5 | 60.5 |
| EBIT | 199.2 | 208.6 | 111.3 | 53.3 | 24.8 | 15.4 | 62.9 | 31.8 |
| Income Before Tax | 178.4 | 44.5 | 69.6 | (5.0) | (31.6) | (49.9) | 16.7 | 10.0 |
| Income Tax Expense | 53.1 | 20.1 | 20.7 | 7.0 | 9.4 | (1.5) | 1.0 | 0.6 |
| Net Income | 125.3 | 24.4 | 49.0 | (12.0) | (0.6) | (48.4) | 15.7 | 9.3 |
| Per Share Data | ||||||||
| EPS (Basic) | 1.90 | 0.42 | 1.00 | -0.26 | -0.01 | -0.77 | 0.25 | 0.15 |
| EPS (Diluted) | 1.90 | 0.42 | 1.00 | -0.26 | -0.01 | -0.77 | 0.25 | 0.15 |
| Shares Outstanding | 65.6 | 57.3 | 48.7 | 46.8 | 43.1 | 62.6 | 62.6 | 62.6 |
| Metric | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|
| Current Assets | |||||||
| Cash & Cash Equivalents | 140.0 | 310.7 | 65.9 | 65.2 | 33.2 | 51.5 | 16.5 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 217.2 | 198.8 | 169.2 | 129.3 | 98.6 | 73.5 | 43.1 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 151.4 | 123.8 | 65.6 | 58.6 | 76.2 | 37.4 | 42.9 |
| Total Current Assets | 508.5 | 633.3 | 300.7 | 253.1 | 208.0 | 162.4 | 102.6 |
| Non-Current Assets | |||||||
| Property, Plant & Equipment | 313.4 | 297.0 | 279.0 | 221.7 | 24.8 | 21.4 | 15.3 |
| Goodwill | 2,167.9 | 1,925.3 | 1,255.6 | 1,090.2 | 860.5 | 515.5 | 316.5 |
| Intangible Assets | 1,639.1 | 1,581.7 | 1,113.5 | 1,003.5 | 762.2 | 522.3 | 309.1 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7.6 | 4.3 | 7.0 | 9.6 | 12.3 | 13.3 | 9.5 |
| Total Non-Current Assets | 4,358.2 | 4,075.7 | 2,762.2 | 2,400.5 | 1,729.8 | 1,072.4 | 650.4 |
| Total Assets | 4,866.8 | 4,709.0 | 3,062.9 | 2,653.6 | 1,937.8 | 1,234.8 | 752.9 |
| Current Liabilities | |||||||
| Account Payables | 12.2 | 11.6 | 9.6 | 8.1 | 8.9 | 5.8 | 6.9 |
| Short-Term Debt | 2,510.7 | 2,393.7 | 1,507.1 | 1,273.0 | 0 | 980.5 | 457 |
| Deferred Revenue | 10.7 | 10.9 | 9.2 | 7.8 | 6.2 | 6.1 | 4.4 |
| Other Current Liabilities | (2,221.9) | (2,116.3) | (1,456.3) | 100.0 | 912.5 | 57.3 | 50.5 |
| Total Current Liabilities | 2,685.3 | 2,594.5 | 1,646.2 | 1,389.0 | 927.6 | 1,049.7 | 518.8 |
| Non-Current Liabilities | |||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 836.6 | 980.5 | 457 |
| Deferred Tax Liabilities | 29.6 | 32.0 | 0 | 48.4 | 39.2 | (121.8) | (8.9) |
| Other Non-Current Liabilities | 3,222.0 | 3,040.2 | 2,134.4 | 404.5 | (678.1) | (144.6) | 25.8 |
| Total Non-Current Liabilities | 878.1 | 997.1 | 557.8 | 460.7 | 197.7 | 963.8 | 496.0 |
| Total Liabilities | 3,563.5 | 3,591.6 | 2,204.0 | 1,849.7 | 1,125.3 | 2,013.5 | 1,014.8 |
| Stockholders' Equity | |||||||
| Common Stock | 0.8 | 0.8 | 0.7 | 0.7 | 0.7 | 0 | 0 |
| Retained Earnings | 116.8 | 25.0 | 14.6 | (13.5) | (0.6) | 0 | 0 |
| Accumulated Other Comprehensive Income | 18.3 | 3.0 | (2.2) | (1.3) | (1.8) | 0 | 0 |
| Total Stockholders' Equity | 1,053.9 | 870.5 | 539.8 | 484.1 | 469.7 | (778.7) | (261.9) |
| Total Liabilities & Equity | 4,866.8 | 4,709.0 | 3,062.9 | 2,653.6 | 1,937.8 | 1,234.8 | 752.9 |
| Debt Metrics | |||||||
| Total Debt | 2,799.6 | 2,671.0 | 1,760.4 | 1,469.4 | 836.6 | 980.5 | 457 |
| Net Debt | 2,659.7 | 2,360.3 | 1,694.6 | 1,404.2 | 803.4 | 929.0 | 440.5 |
| Metric | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | 125.3 | 24.4 | 49.0 | (12.0) | (41.1) | (48.4) | 15.7 | 9.3 |
| Depreciation & Amortization | 277.1 | 202.5 | 160.2 | 141.4 | 98.8 | 71.1 | 56.6 | 40.7 |
| Stock-Based Compensation | 30.5 | 31.6 | 22.3 | 18.3 | 44.5 | 34.9 | 8.5 | 13.5 |
| Change in Working Capital | (118.6) | (53.0) | (51.0) | (10.5) | (32.6) | (18.6) | (5.1) | (4.4) |
| Other Non-Cash Items | (57.9) | 117.0 | 28.2 | 54.0 | 16.8 | 30.1 | 1.4 | 1.9 |
| Operating Cash Flow | 288.6 | 313.9 | 211.4 | 194.8 | 105.9 | 69.1 | 77.2 | 61.1 |
| Investing Activities | ||||||||
| Capital Expenditure | (21.0) | (11.0) | (19.3) | (25.5) | (9.1) | (10.5) | (3.4) | (6.4) |
| Acquisitions | (461.5) | (979.1) | (348.7) | (532.5) | (413.0) | (365.7) | (171.2) | (105.4) |
| Purchases of Investments | 0 | 0 | 0 | 556.5 | (24.3) | (0.5) | (12.9) | (3.1) |
| Sales/Maturities of Investments | 0 | 0 | 0 | 1.5 | 376.7 | 0 | 0 | 0 |
| Other Investing Activities | 7.4 | (17.2) | (5.0) | (556.5) | (376.7) | 0 | 0.7 | 0 |
| Investing Cash Flow | (475.2) | (1,007.3) | (373.0) | (556.5) | (446.4) | (376.7) | (186.8) | (114.9) |
| Financing Activities | ||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | (57.7) | 0 | 0 | (61.5) | (795.9) | (0.0) | (61.1) |
| Dividends Paid | (23.0) | (32.3) | (22.5) | (20.6) | (2.7) | (5.8) | (7.9) | (6.3) |
| Other Financing Activities | 40.0 | 971.1 | 184.3 | 414.2 | 325.2 | 348.2 | 118.7 | 66.6 |
| Financing Cash Flow | 17.0 | 938.8 | 161.8 | 393.6 | 322.5 | 342.4 | 110.9 | 60.3 |
| Cash Position | ||||||||
| Net Change in Cash | (170.7) | 244.8 | 0.7 | 32.0 | (18.2) | 34.9 | 1.0 | 6.4 |
| Cash at Beginning | 310.7 | 65.9 | 65.2 | 33.2 | 51.5 | 16.5 | 15.5 | 9.1 |
| Cash at End | 140.0 | 310.7 | 65.9 | 65.2 | 33.2 | 51.5 | 16.5 | 15.5 |
| Free Cash Flow | 267.6 | 302.9 | 192.0 | 169.3 | 96.8 | 58.6 | 73.7 | 54.7 |
| Key Metrics | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 2,143.3 | 1,798.0 | 1,361.3 | 1,218.3 | 910.9 | 662.9 | 485.4 | 382.3 |
| Gross Profit | 883.1 | 715.4 | 535.6 | 482.2 | 320.1 | 233.7 | 192.4 | 141.0 |
| Operating Income | 215.3 | 211.9 | 119.8 | 103.9 | 44.4 | 5.8 | 38.3 | 21.3 |
| Net Income | 125.3 | 24.4 | 49.0 | (12.0) | (0.6) | (48.4) | 15.7 | 9.3 |
| EPS (Diluted) | 1.90 | 0.42 | 1.00 | -0.26 | -0.01 | -0.77 | 0.25 | 0.15 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 140.0 | 310.7 | 65.9 | 65.2 | 33.2 | 51.5 | 16.5 | |
| Total Assets | 4,866.8 | 4,709.0 | 3,062.9 | 2,653.6 | 1,937.8 | 1,234.8 | 752.9 | |
| Total Debt | 2,799.6 | 2,671.0 | 1,760.4 | 1,469.4 | 836.6 | 980.5 | 457 | |
| Stockholders' Equity | 1,053.9 | 870.5 | 539.8 | 484.1 | 469.7 | (778.7) | (261.9) | |
| Cash Flow | ||||||||
| Operating Cash Flow | 288.6 | 313.9 | 211.4 | 194.8 | 105.9 | 69.1 | 77.2 | 61.1 |
| Capital Expenditure | (21.0) | (11.0) | (19.3) | (25.5) | (9.1) | (10.5) | (3.4) | (6.4) |
| Free Cash Flow | 267.6 | 302.9 | 192.0 | 169.3 | 96.8 | 58.6 | 73.7 | 54.7 |