Emerald Holding, Inc. (EEX) · 10+ Years of Financial statements

Income Statement	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	274	306	324	342	381	361	127	146	326	383
+ Sales & Services Revenue	274	306	324	342	381	361	127	146	326	383
- Cost of Revenue	82	83	84	95	112	120	58	57	116	138
+ Cost of Goods & Services	82	83	84	95	112	120	58	57	116	138
Gross Profit	191	223	239	247	269	241	70	88	209	245
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	128	132	139	159	169	179	60	113	22	210
+ Selling, General & Admin	91	93	99	122	122	133	119	143	145	168
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	38	39	40	37	47	46	-58	-30	-123	42
Operating Income (Loss)	63	91	100	88	100	61	10	-25	188	35
- Non-Operating (Income) Loss	58	61	64	41	133	116	701	56	30	38
+ Interest Expense, Net	55	50	51	38	29	30	20	16	22	35
+ Interest Expense	55	50	51	38	29	30	21	16	24	43
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	3	8
+ Other Non-Op (Income) Loss	3	10	14	3	104	86	680	40	8	2
Pretax Income	5	30	36	47	-33	-55	-691	-81	158	-3
- Income Tax Expense (Benefit)	13	10	14	-35	-8	-5	-58	-1	27	5
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-8	20	22	82	-25	-50	-634	-80	131	-8
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-8	20	22	82	-25	-50	-634	-80	131	-8
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-8	20	22	82	-25	-50	-634	-80	131	-8
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-8	20	22	82	-25	-50	-634	-80	131	-8
Basic Weighted Avg Shares	72	72	72	69	73	72	71	71	69	64
Basic EPS, GAAP	-0.11	0.27	0.31	1.19	-0.34	-0.7	-8.87	-1.12	1.9	-0.13
Basic EPS from Cont Ops	-0.11	0.27	0.31	1.19	-0.34	-0.7	-8.87	-1.12	1.9	-0.13
Diluted Weighted Avg Shares	74	74	74	72	73	72	71	71	69	64
Diluted EPS, GAAP	-0.1	0.27	0.3	1.13	-0.34	-0.7	-8.87	-1.12	1.89	-0.13
Diluted EPS from Cont Ops	-0.1	0.27	0.3	1.13	-0.34	-0.7	-8.87	-1.12	1.89	-0.13
EBITDA	100	130	140	131	147	113	58	23	247	80
EBITDA Margin (%)	36.73	42.4	43.37	38.43	38.56	31.42	45.68	15.67	75.85	20.82
EBITA	63	91	100	88	100	61	10	-25	188	35
EBIT	63	91	100	88	100	61	10	-25	188	35
Gross Margin (%)	69.93	72.78	73.93	72.2	70.55	66.69	54.79	60.76	64.25	64.05
Operating Margin (%)	23.01	29.63	31.02	25.78	26.27	17.01	7.54	-17.04	57.59	9.06
Profit Margin (%)	-2.79	6.4	6.86	23.94	-6.59	-13.85	-497.33	-54.78	40.14	-2.14
Sales per Employee	- -	- -	752,791	800,234	780,123	658,577	235,055	242,500	429,381	568,796
Dividend per Share	- -	- -	- -	0.22	0.29	0.3	0.08	- -	- -	0.27
Depreciation Expense	38	39	40	43	47	52	49	48	60	45

Balance Sheet	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	- -	85	96	94	103	94	352	290	332	311
+ Cash, Cash Equivalents & STI	- -	16	15	11	20	10	295	231	239	204
+ Cash & Cash Equivalents	- -	16	15	11	20	10	295	231	239	204
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	48	58	63	63	60	48	46	75	85
+ Accounts Receivable, Net	- -	48	58	63	63	60	31	46	75	85
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	18	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	21	23	20	20	24	8	12	18	22
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	1,453	1,477	1,544	1,477	1,378	702	772	767	743
+ Property, Plant & Equip, Net	- -	2	4	4	4	18	20	19	13	10
+ Property, Plant & Equip	- -	4	6	7	8	22	26	25	16	15
- Accumulated Depreciation	- -	2	3	4	4	5	6	6	4	5
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	1,451	1,473	1,541	1,473	1,360	682	754	754	733
+ Total Intangible Assets	- -	1,450	1,472	1,539	1,472	1,354	679	751	750	729
+ Goodwill	- -	890	930	994	1,036	980	404	514	546	554
+ Other Intangible Assets	- -	559	541	545	435	374	275	237	205	175
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	2	2	2	2	6	3	3	4	4
Total Assets	- -	1,538	1,572	1,638	1,580	1,472	1,054	1,062	1,098	1,054
+ Payables & Accruals	- -	17	14	17	22	18	24	38	45	38
+ Accounts Payable	- -	2	4	5	3	6	4	12	20	24
+ Accrued Taxes	- -	- -	- -	- -	1	- -	- -	- -	1	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	15	11	12	18	12	20	26	23	13
+ ST Debt	- -	6	9	6	46	20	10	10	5	8
+ ST Borrowings	- -	6	9	6	46	16	6	6	- -	4
+ ST Finance Leases	- -	- -	- -	- -	- -	4	4	5	5	4
+ Other ST Liabilities	- -	155	185	201	201	192	82	144	173	184
+ Deferred Revenue	- -	150	172	193	192	187	49	118	151	174
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	5	14	8	8	4	33	26	22	10
Total Current Liabilities	- -	178	209	223	269	229	116	192	222	230
+ LT Debt	- -	725	693	548	524	535	529	524	424	408
+ LT Borrowings	- -	725	693	548	524	520	515	511	414	399
+ LT Finance Leases	- -	- -	- -	- -	- -	16	13	13	10	9
+ Other LT Liabilities	- -	132	143	105	79	67	414	468	485	509
+ Accrued Liabilities	- -	130	140	100	75	60	2	2	2	3
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	2	3	5	4	7	412	466	483	506
Total Noncurrent Liabilities	- -	857	836	653	603	602	943	992	909	916
Total Liabilities	- -	1,036	1,045	877	872	832	1,058	1,183	1,132	1,146
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	1	- -	- -	- -
+ Share Capital & APIC	- -	508	511	678	690	702	691	654	611	560
+ Common Stock	- -	1	1	1	1	1	1	1	1	1
+ Additional Paid in Capital	- -	507	510	677	690	701	691	653	610	559
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	- -	-5	17	83	18	-62	-695	-775	-644	-652
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	- -	503	528	761	708	640	-4	-121	-33	-92
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	- -	503	528	761	708	640	-4	-121	-33	-92
Total Liabilities & Equity	- -	1,538	1,572	1,638	1,580	1,472	1,054	1,062	1,098	1,054
Shares Outstanding	74	74	72	73	72	71	72	70	68	63
Capital Leases - Total	- -	- -	- -	- -	- -	20	18	18	15	13
Net Debt	- -	715	687	543	549	526	226	285	175	199
Net Debt to Equity	- -	142.35	130.23	71.37	77.57	82.13	-5,939.47	-235.87	-528.1	-214.81
Tangible Common Equity Ratio	- -	-1,071.29	-934.46	-783.77	-705.64	-607.06	-182.3	-279.9	-225.05	-252.85
Current Ratio	- -	0.47	0.46	0.42	0.38	0.41	3.05	1.51	1.49	1.35
Cash Conversion Cycle	- -	24.15	46.94	46.77	45.95	48.28	99.97	46.21	17.17	17.31
Number of Employees	- -	- -	430	427	488	548	542	600	759	673

Cash Flow Statement	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
+ Net Income	-8	20	22	82	-25	-50	-634	-80	131	-8
+ Depreciation & Amortization	38	39	40	43	47	52	49	48	60	45
+ Non-Cash Items	26	28	22	-30	88	84	636	58	-11	16
+ Stock-Based Compensation	6	5	3	3	6	8	7	10	6	8
+ Deferred Income Taxes	12	8	10	-40	-25	-15	-58	- -	- -	1
+ Asset Impairment Charge	- -	9	- -	- -	104	86	680	40	8	- -
+ Other Non-Cash Adj	8	6	9	7	2	5	7	8	-25	7
+ Chg in Non-Cash Work Cap	17	1	8	16	-5	-18	-88	64	-4	-13
+ (Inc) Dec in Accts Receiv	-7	4	-11	-1	1	3	13	2	-25	-9
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-1	- -	-2	4	4	-4	16	-4	-5	-2
+ Inc (Dec) in Accts Payable	-1	-2	2	3	4	-7	6	21	8	-14
+ Inc (Dec) in Other	25	-1	18	9	-14	-10	-122	45	18	12
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	73	88	93	111	104	68	-37	90	175	40
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-4	-3	-3	-3	-4	-4	-4	-7	-10	-12
+ Acq of Fixed Prod Assets	-1	-1	-2	-1	-1	-2	-1	-2	-2	-1
+ Acq of Intangible Assets	-2	-2	-1	-2	-3	-2	-3	-5	-8	-11
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	50	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	-50	- -
+ Net Cash From Acq & Div	-332	-84	-48	-92	-71	-13	-33	-125	-38	-10
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-332	-84	-48	-92	-71	-13	-33	-125	-38	-10
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-336	-87	-52	-96	-75	-17	-37	-132	-48	-21
+ Dividends Paid	- -	- -	- -	-15	-21	-21	-5	- -	- -	-17
+ Net Cash From Debt	148	-26	-37	-151	14	-36	-16	-6	-104	-2
+ Cash From Debt	200	12	208	56	50	16	95	- -	- -	239
+ Repayments of Debt	-51	-38	-245	-207	-36	-52	-111	-6	-104	-242
+ Cash (Repurchase) of Equity	141	- -	- -	166	-19	-8	-1	-12	-10	-17
+ Increase in Capital Stock	141	- -	- -	166	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	-19	-8	-1	-12	-10	-17
+ Other Financing Activities	-7	- -	-6	-18	6	3	382	-4	-5	-18
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	282	-26	-42	-19	-20	-62	360	-22	-119	-54
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	19	-26	-1	-4	10	-11	286	-64	8	-35
EBITDA	100	130	140	131	147	113	58	23	247	80
EBITDA Margin (%)	36.73	42.4	43.37	38.43	38.56	31.42	45.68	15.67	75.85	20.82
Net Cash Paid for Acquisitions	332	84	48	92	71	13	33	125	38	10
Free Cash Flow	69	85	90	108	100	64	-41	83	165	29
Free Cash Flow to Firm	-13	118	121	- -	- -	- -	- -	- -	185	- -
Free Cash Flow to Equity	- -	60	54	-41	117	30	-53	82	69	38
Free Cash Flow per Basic Share	0.95	1.18	1.24	1.56	1.38	0.89	-0.58	1.17	2.39	0.45
Price/Free Cash Flow	- -	- -	- -	13.12	8.56	10.53	-11.48	2.82	1.3	7.4
Cash Flow to Net Income	-9.51	4.48	4.19	1.35	-4.14	-1.36	0.06	-1.13	1.34	-4.91

Emerald Holding, Inc.

EEX US

6.08

6.08