TNET FY 2020 Earnings Report — TriNet Group, Inc. Revenue & Financial Results | Market Cap Arena

TriNet Group, Inc.TNET

FY 2020 Earnings

Reported February 16, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$4.0B	—	$3.9B	—	4.6%
Op. Income	$368M	—	$268M	—	37.3%
Gross Margin	19.7%	—	17.7%	—	1.9pp
Net Margin	6.7%	—	5.5%	—	1.2pp
EPS (Diluted)	$4.00	—	$2.99	—	33.8%
Free Cash Flow	$510M	—	$426M	—	19.7%

Revenue Flow

Item	Amount
REVENUE	$4.0B
Cost of Revenue	$3.2B
GROSS PROFIT	$793M
R&D Expenses	$40M
Selling & Marketing	$186M
General & Administrative	$152M
SG&A Expenses	$338M
Other Expenses	$47M
Operating Expenses	$425M
Cost & Expenses	$3.7B
OPERATING INCOME	$368M
Interest Income	$10M
Interest Expense	$21M
Other Income/Expenses	-$11M
INCOME BEFORE TAX	$357M
Income Tax Expense	$85M
Net Income from Continuing Ops	$272M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$272M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$272M
D&A	$47M
EBIT	$399M
EBITDA	$446M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$4.0B
Cost of Revenue	$3.2B
GROSS PROFIT	$793M
R&D Expenses	$40M
Selling & Marketing	$186M
General & Administrative	$152M
SG&A Expenses	$338M
Other Expenses	$47M
Operating Expenses	$425M
Cost & Expenses	$3.7B
OPERATING INCOME	$368M
Interest Income	$10M
Interest Expense	$21M
Other Income/Expenses	-$11M
INCOME BEFORE TAX	$357M
Income Tax Expense	$85M
Net Income from Continuing Ops	$272M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$272M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$272M
D&A	$47M
EBIT	$399M
EBITDA	$446M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$272M
Depreciation & Amortization	$81M
Stock-Based Compensation	$43M
Deferred Income Tax	-$42M
Other Non-Cash Items	$4M
Change in Working Capital	$188M
OPERATING CASH FLOW	$546M
Capital Expenditure	-$36M
Acquisitions (Net)	-$12M
Purchases of Investments	-$327M
Sales/Maturities of Investments	$224M
Other Investing Activities	$0
NET CASH FROM INVESTING	-$151M
Net Debt Issuance	-$22M
Common Stock Repurchased	-$178M
Common Dividends Paid	$0
Other Financing Activities	$10M
NET CASH FROM FINANCING	-$208M
FREE CASH FLOW	$510M
Net Change in Cash	$187M

Balance Sheet

Item	Amount
Cash & Equivalents	$301M
Short-Term Investments	$57M
Net Receivables	$264M
Inventory	$1.5B
Other Current Assets	$24M
TOTAL CURRENT ASSETS	$2.2B
PP&E (Net)	$130M
Goodwill	$294M
Intangible Assets	$18M
Long-Term Investments	$138M
Tax Assets	$0
Other Non-Current Assets	$303M
TOTAL NON-CURRENT ASSETS	$883M
TOTAL ASSETS	$3.0B
Account Payables	$50M
Short-Term Debt	$22M
Deferred Revenue	$134M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$348M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$22M
Other Non-Current Liabilities	$147M
TOTAL NON-CURRENT LIABILITIES	$566M
TOTAL LIABILITIES	$2.4B
Common Stock	$747M
Additional Paid-In Capital	$0
Retained Earnings	-$144M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$607M
Minority Interest	$0
TOTAL EQUITY	$607M
TOTAL LIABILITIES & EQUITY	$3.0B
Total Debt	$430M
Net Debt	$129M