HMHC · Houghton Mifflin Harcourt Co - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $1.05B | $1.03B | $1.39B | $1.29B | $1.41B | $1.37B |
| Cost of Revenue | $518.01M | $644.05M | $844.18M | $761.53M | - | - |
| Gross Profit | $532.79M | $387.24M | $546.49M | $530.44M | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $445.66M | $478.10M | $662.61M | $649.29M | $654.86M | $699.54M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $194.43M | $236.49M | $272.69M | $250.47M | $278.52M | $298.17M |
| Operating Income | $48.18M | ($429.09M) | ($163.16M) | ($90.53M) | ($113.52M) | ($310.77M) |
| Interest Expense | $35.00M | $65.96M | $48.78M | $45.68M | $42.80M | $38.66M |
| Income Tax | $2.69M | ($12.40M) | $4.20M | $5.60M | ($50.44M) | ($65.49M) |
| Net Income | $213.58M | ($479.84M) | ($213.83M) | ($94.16M) | ($103.19M) | ($284.56M) |
| EPS - Basic | ($3.82) | - | - | - | ($0.84) | ($2.32) |
| EPS - Diluted | ($3.82) | - | - | - | ($0.84) | ($2.32) |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $463.13M | $281.20M | $296.35M | $253.37M | $148.98M | $226.10M |
| Accounts Receivable | $135.50M | $152.83M | $184.43M | $203.57M | $201.08M | $216.01M |
| Inventory | $117.47M | $166.96M | $213.06M | $184.21M | $154.64M | $162.41M |
| Accounts Payable | $37.45M | $49.10M | $52.13M | $76.31M | $61.50M | $76.18M |
| Current Assets | $759.43M | $620.93M | $713.09M | $706.28M | $621.10M | $705.72M |
| Total Assets | $1.97B | $2.02B | $2.51B | $2.50B | $2.56B | $2.73B |
| Current Liabilities | $546.01M | $551.82M | $555.15M | $487.69M | $504.23M | $505.15M |
| Long-term Debt | $317.58M | $624.69M | $638.19M | $755.65M | $760.19M | $764.74M |
| Total Liabilities | $1.64B | $1.93B | $1.95B | $1.73B | $1.77B | $1.85B |
| Stockholders' Equity | $330.42M | $90.46M | $566.36M | $768.47M | $795.19M | $880.04M |
| Retained Earnings | ($4.04B) | ($4.26B) | ($3.78B) | ($3.56B) | ($3.52B) | ($3.42B) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $267.67M | $115.25M | $254.97M | $143.75M | $135.13M | $143.75M |
| Investing Cash Flow | $249.64M | ($112.27M) | ($96.32M) | ($113.95M) | ($204.92M) | ($113.95M) |
| Financing Cash Flow | ($335.38M) | ($18.13M) | ($115.67M) | ($37.96M) | ($7.33M) | ($37.96M) |
| CapEx | $39.09M | $50.94M | $37.56M | $53.74M | $58.29M | $105.55M |
| Free Cash Flow | $228.58M | $64.31M | $217.41M | $90.01M | $76.84M | $38.20M |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 50.7% | 37.5% | 39.3% | 41.1% | - | - |
| Operating margin | 4.6% | -41.6% | -11.7% | -7.0% | -8.1% | -22.6% |
| EBITDA margin | 23.1% | -18.7% | 7.9% | 12.4% | 11.7% | -0.9% |
| Net margin | 20.3% | -46.5% | -15.4% | -7.3% | -7.3% | -20.7% |
| Free cash flow margin | 21.8% | 6.2% | 15.6% | 7.0% | 5.5% | 2.8% |
| FCF / Net income | 1.07 | -0.13 | -1.02 | -0.96 | -0.74 | -0.13 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 42.4% | 46.4% | 47.6% | 50.3% | 46.5% | 51.0% |
| Effective tax rate | 1.2% | - | - | - | - | - |
| Return on assets | 10.8% | -23.7% | -8.5% | -3.8% | -4.0% | -10.4% |
| Return on equity | 64.6% | -530.4% | -37.8% | -12.3% | -13.0% | -32.3% |
| Return on invested capital | 7.3% | -47.4% | -10.7% | -4.7% | -5.8% | -14.9% |
| Liquidity | ||||||
| Current ratio | 1.39 | 1.13 | 1.28 | 1.45 | 1.23 | 1.40 |
| Quick ratio | 1.18 | 0.82 | 0.90 | 1.07 | 0.93 | 1.08 |
| Cash ratio | 0.85 | 0.51 | 0.53 | 0.52 | 0.30 | 0.45 |
| Leverage | ||||||
| Debt / Equity | 0.96 | 6.91 | 1.13 | 0.98 | 0.96 | 0.87 |
| Debt / Assets | 0.16 | 0.31 | 0.25 | 0.30 | 0.30 | 0.28 |
| Debt / EBITDA | 1.31 | - | 5.83 | 4.72 | 4.61 | - |
| Interest coverage | 1.4x | -6.5x | -3.3x | -2.0x | -2.7x | -8.0x |
| Equity multiplier | 5.97 | 22.34 | 4.44 | 3.25 | 3.22 | 3.10 |
| Liabilities / Assets | 0.83 | 0.96 | 0.77 | 0.69 | 0.69 | 0.68 |
| Efficiency | ||||||
| Asset turnover | 0.53 | 0.51 | 0.55 | 0.52 | 0.55 | 0.50 |
| Inventory turnover | 4.41 | 3.86 | 3.96 | 4.13 | - | - |
| Days sales outstanding | 47d | 54d | 48d | 58d | 52d | 57d |
| Days inventory outstanding | 83d | 95d | 92d | 88d | - | - |
| Days payable outstanding | 26d | 28d | 23d | 37d | - | - |
| Cash conversion cycle | 103d | 121d | 118d | 109d | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 1.9% | -25.8% | 7.6% | -8.2% | 2.5% | -3.1% |
| Revenue CAGR (3y) | -6.7% | -9.8% | 0.4% | -3.0% | 3.1% | - |
| Revenue CAGR (5y) | -5.2% | -6.1% | 1.6% | - | - | - |
| Gross profit growth (YoY) | 37.6% | -29.1% | 3.0% | - | - | - |
| Operating income growth (YoY) | - | -163.0% | -80.2% | 20.3% | 63.5% | -167.8% |
| Net income growth (YoY) | - | -124.4% | -127.1% | 8.8% | 63.7% | -112.6% |
| EPS growth (YoY) | - | - | - | - | 63.8% | -136.7% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 255.4% | -70.4% | 141.5% | 17.1% | 101.2% | -48.5% |
| FCF CAGR (5y) | 43.0% | -2.8% | 32.2% | - | - | - |
| Book value growth (YoY) | 265.3% | -84.0% | -26.3% | -3.4% | -9.6% | -26.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Product / service
$1.05B totalCore Solutions$550.30M · 52.4%
Extension$500.50M · 47.6%
Geographic
$1.05B totalUS$1.01B · 96.0%
International$41.58M · 4.0%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
-0.97
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- -No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Books: Publishing or Publishing & Printing
Comparing Houghton Mifflin Harcourt Co against the 2 most active filers in the same SIC group.