Last 7 days
1.3%
Last 30 days
0.0%
Last 90 days
39.1%
Trailing 12 Months
10.4%
Income Statement (Last 12 Months) | (In Millions) | |||||
---|---|---|---|---|---|---|
Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
Revenue | 1.1% | 2,143 | 2,120 | 2,054 | 1,940 | 1,798 |
S&GA Expenses | 3.8% | 376 | 362 | 348 | 322 | 298 |
EBITDA | -6.2% | 278 | 297 | 241 | 158 | 100 |
EBITDA Margin | -7.3% | 0.13* | 0.14* | 0.12* | 0.08* | 0.06* |
Earnings Before Taxes | -17.3% | 178 | 216 | 170 | 96.00 | 45.00 |
EBT Margin | -18.2% | 0.08* | 0.10* | 0.08* | 0.05* | 0.02* |
Interest Expenses | 23.2% | 100 | 81.00 | 71.00 | 62.00 | 55.00 |
Net Income | -7.3% | 92.00 | 99.00 | 70.00 | 39.00 | 10.00 |
Net Income Margin | -8.3% | 0.04* | 0.05* | 0.03* | 0.02* | 0.01* |
Free Cahsflow | -7.3% | 268 | 289 | 278 | 264 | 303 |
Balance Sheet | (In Millions) | |||||
---|---|---|---|---|---|---|
Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
Assets | 1.7% | 4,867 | 4,785 | 4,811 | 4,706 | 4,709 |
Cash Equivalents | 8.9% | 140 | 129 | 221 | 317 | 311 |
Net PPE | 9.9% | 55.00 | 50.00 | 47.00 | 47.00 | 47.00 |
Goodwill | 3.6% | 2,168 | 2,093 | 2,050 | 1,928 | 1,925 |
Liabilities | 1.9% | 3,563 | 3,498 | 3,562 | 3,523 | 3,592 |
Shareholder's Equity | -0.4% | 1,054 | 1,059 | 1,249 | 1,183 | 871 |
Retained Earnings | 0.3% | 117 | 116 | 87.00 | 54.00 | 25.00 |
Additional Paid-In Capital | -1.3% | 918 | 930 | 910 | 866 | 842 |
Minority Interest | 9.3% | 249 | 228 | 235 | 241 | 247 |
Cashflow (Last 12 Months) | (In Millions) | |||||
---|---|---|---|---|---|---|
Description | (%) Q/Q | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 |
Cashflow From Operations | -5.8% | 289 | 306 | 291 | 275 | 314 |
Share Based Compensation | 4.2% | 30.00 | 29.00 | 27.00 | 26.00 | 32.00 |
Cashflow From Investing | 55.9% | -475 | -1,076 | -1,165 | -990 | -1,007 |
Cashflow From Financing | -93.4% | 17.00 | 259 | 953 | 863 | 939 |
74.9%
74.1%
64.4%
Y-axis is the maximum loss one would have experienced if Focus Financial Partners was unfortunately bought at previous high price.
32.0%
Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
---|---|---|---|---|---|---|
2023-03-23 | MetLife Investment Management, LLC | unchanged | - | 173,924 | 1,125,370 | 0.01% |
2023-03-17 | American Portfolios Advisors | unchanged | - | -123 | 1,512 | -% |
2023-03-10 | VICTORY CAPITAL MANAGEMENT INC | reduced | -30.27 | -3,998,690 | 18,821,300 | 0.02% |
2023-03-06 | Rockefeller Capital Management L.P. | reduced | -45.54 | - | 2,000 | -% |
2023-02-28 | Voya Investment Management LLC | reduced | -17.09 | -287,863 | 14,586,100 | 0.02% |
2023-02-21 | MACQUARIE GROUP LTD | added | 25.45 | 27,872,000 | 85,508,000 | 0.10% |
2023-02-17 | EQUITABLE TRUST CO | reduced | -11.04 | 31,771 | 644,771 | 0.05% |
2023-02-15 | ALLIANCEBERNSTEIN L.P. | added | 5.01 | 502,854 | 2,577,850 | -% |
2023-02-15 | State of Wyoming | reduced | -29.51 | -27,362 | 137,638 | 0.05% |
2023-02-15 | Metropolitan Life Insurance Co/NY | unchanged | - | 20,594 | 130,594 | 0.01% |
Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
---|---|---|---|---|---|
Feb 28, 2023 | trident ffp lp | 11.1% | 8,250,165 | SC 13D/A | |
Feb 13, 2023 | capital world investors | 8.3% | 5,451,302 | SC 13G/A | |
Feb 09, 2023 | vanguard group inc | 7.72% | 5,085,477 | SC 13G/A | |
Feb 08, 2023 | wasatch advisors inc | - | 0 | SC 13G/A | |
Feb 02, 2023 | trident ffp lp | 11.1% | 8,250,165 | SC 13D/A | |
Feb 01, 2023 | blackrock inc. | 5.7% | 3,775,028 | SC 13G/A | |
Jan 20, 2023 | jpmorgan chase & co | 7.8% | 5,157,414 | SC 13G/A | |
Jun 06, 2022 | wasatch advisors inc | - | 0 | SC 13G/A | |
Feb 11, 2022 | capital world investors | 8.5% | 5,469,539 | SC 13G | |
Feb 09, 2022 | wasatch advisors inc | - | 0 | SC 13G |
Date Filed | Form Type | Document | |
---|---|---|---|
Feb 28, 2023 | 8-K | Current Report | |
Feb 28, 2023 | DEFA14A | DEFA14A | |
Feb 28, 2023 | SC 13D/A | 13D - Major Acquisition | |
Feb 27, 2023 | 8-K | Current Report | |
Feb 27, 2023 | DEFA14A | DEFA14A | |
Feb 27, 2023 | DEFA14A | DEFA14A | |
Feb 16, 2023 | 10-K | Annual Report | |
Feb 16, 2023 | 8-K | Current Report | |
Feb 13, 2023 | SC 13G/A | Major Ownership Report | |
Feb 09, 2023 | SC 13G/A | Major Ownership Report |
Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
---|---|---|---|---|---|---|
2021-08-16 | Mashinsky Kristine | bought | 302,138 | 49.6938 | 6,080 | - |
2021-08-13 | Mashinsky Kristine | bought | 694,824 | 49.9155 | 13,920 | - |
2021-06-23 | KKR Freya Aggregator L.P. | acquired | - | - | 3,654,040 | - |
2021-06-23 | KKR Freya Aggregator L.P. | sold | -356,283,000 | 49.87 | -7,144,240 | - |
2021-06-23 | KKR Group Partnership L.P. | sold | -356,283,000 | 49.87 | -7,144,240 | - |
2021-06-23 | KKR Group Partnership L.P. | acquired | - | - | 3,654,040 | - |
2021-03-16 | KKR Group Partnership L.P. | acquired | - | - | 155,558 | - |
2021-03-16 | Carey James D | acquired | - | - | 351,220 | - |
2021-03-16 | Carey James D | sold | -31,565,000 | 46.2 | -683,226 | - |
2021-03-16 | KKR Freya Aggregator L.P. | sold | -14,051,300 | 46.2 | -304,141 | - |
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
---|---|---|---|
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
REVENUES: | |||
Total revenues | $ 2,143,321 | $ 1,797,951 | $ 1,361,319 |
OPERATING EXPENSES: | |||
Compensation and related expenses | 729,891 | 591,121 | 476,208 |
Management fees | 530,329 | 491,433 | 349,475 |
Selling, general and administrative | 376,417 | 297,636 | 236,377 |
Intangible amortization | 261,842 | 187,848 | 147,783 |
Non-cash changes in fair value of estimated contingent consideration | (64,747) | 112,416 | 19,197 |
Depreciation and other amortization | 15,281 | 14,625 | 12,451 |
Total operating expenses | 1,849,013 | 1,695,079 | 1,241,491 |
INCOME FROM OPERATIONS | 294,308 | 102,872 | 119,828 |
OTHER INCOME (EXPENSE): | |||
Interest income | 791 | 422 | 453 |
Interest expense | (99,887) | (55,001) | (41,658) |
Amortization of debt financing costs | (3,999) | (3,958) | (2,909) |
Loss on extinguishment of borrowings | (1,807) | (6,094) | |
Other expense-net | (11,370) | (337) | (214) |
Income from equity method investments | 319 | 524 | 219 |
Total other expense-net | (115,953) | (58,350) | (50,203) |
INCOME BEFORE INCOME TAX | 178,355 | 44,522 | 69,625 |
INCOME TAX EXPENSE | 53,077 | 20,082 | 20,660 |
NET INCOME | 125,278 | 24,440 | 48,965 |
Non-controlling interest | (33,494) | (14,028) | (20,920) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS | 91,784 | 10,412 | 28,045 |
Wealth management fees | |||
REVENUES: | |||
Total revenues | 2,056,328 | 1,717,365 | 1,286,130 |
Other | |||
REVENUES: | |||
Total revenues | $ 86,993 | $ 80,586 | $ 75,189 |
Class A common stock | |||
Income per share of Class A common stock: | |||
Basic (in dollars per share) | $ 1.40 | $ 0.18 | $ 0.58 |
Diluted (in dollars per share) | $ 1.39 | $ 0.18 | $ 0.57 |
Weighted average shares of Class A common stock outstanding: | |||
Basic (in shares) | 65,552,592 | 57,317,477 | 48,678,584 |
Diluted (in shares) | 65,810,215 | 57,831,151 | 48,796,613 |
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
---|---|---|
ASSETS | ||
Cash and cash equivalents | $ 139,973 | $ 310,684 |
Accounts receivable less allowances of $3,255 at 2021 and $3,862 at 2022 | 217,219 | 198,827 |
Prepaid expenses and other assets | 151,356 | 123,826 |
Fixed assets-net | 54,748 | 47,199 |
Operating lease assets | 258,697 | 249,850 |
Debt financing costs-net | 7,590 | 4,254 |
Deferred tax assets-net | 230,130 | 267,332 |
Goodwill | 2,167,917 | 1,925,315 |
Other intangible assets-net | 1,639,124 | 1,581,719 |
TOTAL ASSETS | 4,866,754 | 4,709,006 |
LIABILITIES | ||
Accounts payable | 12,213 | 11,580 |
Accrued expenses | 80,679 | 72,572 |
Due to affiliates | 70,974 | 105,722 |
Deferred revenue | 10,726 | 10,932 |
Contingent consideration and other liabilities | 335,033 | 468,284 |
Deferred tax liabilities | 29,579 | 31,973 |
Operating lease liabilities | 288,895 | 277,324 |
Borrowings under credit facilities (stated value of $2,407,302 and $2,563,970 at December 31, 2021 and December 31, 2022, respectively) | 2,510,749 | 2,393,669 |
Tax receivable agreements obligations | 224,611 | 219,542 |
TOTAL LIABILITIES | 3,563,459 | 3,591,598 |
COMMITMENTS AND CONTINGENCIES (Note 14) | ||
EQUITY | ||
Additional paid-in capital | 918,044 | 841,753 |
Retained earnings | 116,779 | 24,995 |
Accumulated other comprehensive income | 18,318 | 3,029 |
Total shareholders' equity | 1,053,918 | 870,544 |
Non-controlling interest | 249,377 | 246,864 |
Total equity | 1,303,295 | 1,117,408 |
TOTAL LIABILITIES AND EQUITY | 4,866,754 | 4,709,006 |
Class A common stock | ||
EQUITY | ||
Common stock | 659 | 653 |
Class B common stock | ||
EQUITY | ||
Common stock | $ 118 | $ 114 |