ITIC FY 2021 Earnings Report — Investors Title Company Revenue & Financial Results | Market Cap Arena

Investors Title CompanyITIC

FY 2021 Earnings

Reported March 14, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$329M	—	$236M	—	39.4%
Op. Income	$85M	—	$50M	—	71.0%
Gross Margin	54.9%	—	52.6%	—	2.3pp
Net Margin	20.3%	—	16.7%	—	3.7pp
EPS (Diluted)	$35.27	—	$20.79	—	69.6%
Free Cash Flow	$45M	—	$31M	—	46.9%

Revenue Flow

Item	Amount
REVENUE	$329M
Cost of Revenue	$149M
GROSS PROFIT	$181M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$64M
SG&A Expenses	$64M
Other Expenses	$32M
Operating Expenses	$96M
Cost & Expenses	$245M
OPERATING INCOME	$85M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$18M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$2M
EBIT	$85M
EBITDA	$87M
EPS	$35
EPS Diluted	$35

Income Statement

Item	Amount
REVENUE	$329M
Cost of Revenue	$149M
GROSS PROFIT	$181M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$64M
SG&A Expenses	$64M
Other Expenses	$32M
Operating Expenses	$96M
Cost & Expenses	$245M
OPERATING INCOME	$85M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$0
INCOME BEFORE TAX	$85M
Income Tax Expense	$18M
Net Income from Continuing Ops	$67M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$67M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$67M
D&A	$2M
EBIT	$85M
EBITDA	$87M
EPS	$35
EPS Diluted	$35

Cash Flow Statement

Item	Amount
Net Income	$67M
Depreciation & Amortization	$2M
Stock-Based Compensation	$299.0K
Deferred Income Tax	$5M
Other Non-Cash Items	-$21M
Change in Working Capital	-$2M
OPERATING CASH FLOW	$52M
Capital Expenditure	-$7M
Acquisitions (Net)	$0
Purchases of Investments	-$45M
Sales/Maturities of Investments	$53M
Other Investing Activities	$8M
NET CASH FROM INVESTING	$9M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$38M
Other Financing Activities	-$1.0K
NET CASH FROM FINANCING	-$38M
FREE CASH FLOW	$45M
Net Change in Cash	$23M

Balance Sheet

Item	Amount
Cash & Equivalents	$37M
Short-Term Investments	$126M
Net Receivables	$24M
Inventory	$0
Other Current Assets	-$198M
TOTAL CURRENT ASSETS	$0
PP&E (Net)	$18M
Goodwill	$7M
Intangible Assets	$9M
Long-Term Investments	$203M
Tax Assets	$0
Other Non-Current Assets	-$237M
TOTAL NON-CURRENT ASSETS	$0
TOTAL ASSETS	$331M
Account Payables	$44M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$47M
TOTAL CURRENT LIABILITIES	$0
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$13M
Other Non-Current Liabilities	-$18M
TOTAL NON-CURRENT LIABILITIES	$0
TOTAL LIABILITIES	$102M
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$226M
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$229M
Minority Interest	$0
TOTAL EQUITY	$229M
TOTAL LIABILITIES & EQUITY	$331M
Total Debt	$5M
Net Debt	-$32M