AFG Q4 2019 Earnings Report — American Financial Group, Inc. Revenue & Financial Results | Market Cap Arena

American Financial Group, Inc.AFG

Q4 2019 Earnings

Reported February 25, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2019	Q3 2019	Q4 2018	QoQ Change	YoY Change
Revenue	$2.1B	$2.1B	—	0.3%	—
Op. Income	$259M	$177M	—	46.3%	—
Gross Margin	18.0%	14.4%	—	3.6pp	—
Net Margin	9.9%	6.9%	—	3.0pp	—
EPS (Diluted)	$2.31	$1.62	—	42.6%	—
Free Cash Flow	$765M	$814M	—	-6.0%	—

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.7B
GROSS PROFIT	$383M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$124M
Operating Expenses	$124M
Cost & Expenses	$1.9B
OPERATING INCOME	$259M
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	$0
INCOME BEFORE TAX	$259M
Income Tax Expense	$68M
Net Income from Continuing Ops	$191M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$211M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$64M
EBIT	$277M
EBITDA	$341M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$1.7B
GROSS PROFIT	$383M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$124M
Operating Expenses	$124M
Cost & Expenses	$1.9B
OPERATING INCOME	$259M
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	$0
INCOME BEFORE TAX	$259M
Income Tax Expense	$68M
Net Income from Continuing Ops	$191M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$211M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$211M
D&A	$64M
EBIT	$277M
EBITDA	$341M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$211M
Depreciation & Amortization	$64M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	$92M
Change in Working Capital	$392M
OPERATING CASH FLOW	$765M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$3.5B
Sales/Maturities of Investments	$2.4B
Other Investing Activities	-$167M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$44M
Common Stock Repurchased	$0
Common Dividends Paid	-$203M
Other Financing Activities	$295M
NET CASH FROM FINANCING	$143M
FREE CASH FLOW	$765M
Net Change in Cash	-$379M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.3B
Short-Term Investments	$0
Net Receivables	$1.3B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$158M
Goodwill	$207M
Intangible Assets	$43M
Long-Term Investments	$53.6B
Tax Assets	$174M
Other Non-Current Assets	$8.2B
TOTAL NON-CURRENT ASSETS	$62.4B
TOTAL ASSETS	$66.0B
Account Payables	$0
Short-Term Debt	$46M
Deferred Revenue	$2.2B
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.2B
Long-Term Debt	$1.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$55.8B
TOTAL NON-CURRENT LIABILITIES	$57.6B
TOTAL LIABILITIES	$59.8B
Common Stock	$90M
Additional Paid-In Capital	$1.3B
Retained Earnings	$4.0B
Treasury Stock	$0
Accum. Other Comp. Income	$863M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.3B
Minority Interest	$0
TOTAL EQUITY	$6.3B
TOTAL LIABILITIES & EQUITY	$66.0B
Total Debt	$1.8B
Net Debt	-$527M