Last 7 days
0.9%
Last 30 days
1.3%
Last 90 days
1.8%
Trailing 12 Months
33.2%
Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
---|---|---|---|---|---|---|
2023-08-31 | Shanahan James | back to issuer | -48,095,800 | 53.00 | -907,468 | chief financial officer |
2023-08-31 | LeMieux George | acquired | - | - | 9,611 | - |
2023-08-31 | Morganroth Greg S. | back to issuer | -1,076,480 | 53.00 | -20,311 | - |
2023-08-31 | McGranahan John Russell | acquired | - | - | 413,124 | general counsel |
2023-08-31 | Adolf Ruediger | acquired | - | - | 584,552 | ceo and chairman |
2023-08-31 | LeMieux George | back to issuer | -509,383 | 53.00 | -9,611 | - |
2023-08-31 | Neuhoff Elizabeth R. | back to issuer | -509,383 | 53.00 | -9,611 | - |
2023-08-31 | Neuhoff Elizabeth R. | acquired | - | - | 9,611 | - |
2023-08-31 | Shanahan James | back to issuer | -2,452,260 | 53.00 | -46,269 | chief financial officer |
2023-08-31 | Chang Leonard R. | back to issuer | -50,225,100 | 53.00 | -947,643 | sr. managing dir/head of m&a |
Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
---|---|---|---|---|---|---|
2023-08-24 | Alberta Investment Management Corp | added | 25.00 | 1,101,400 | 5,251,000 | 0.05% |
2023-08-21 | VESTOR CAPITAL, LLC | unchanged | - | 12,000 | 998,000 | 0.10% |
2023-08-21 | OSAIC HOLDINGS, INC. | reduced | -43.04 | -20,381 | 27,715 | -% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | reduced | -2.55 | -51,470 | 3,769,430 | -% |
2023-08-16 | Nuveen Asset Management, LLC | added | 0.78 | 168,536 | 8,497,540 | -% |
2023-08-15 | ALLIANCEBERNSTEIN L.P. | added | 99.13 | 10,366,700 | 20,571,200 | 0.01% |
2023-08-15 | Crestwood Advisors Group LLC | reduced | -0.47 | 8,427 | 1,117,040 | 0.04% |
2023-08-15 | WELLS FARGO & COMPANY/MN | added | 104 | 714,517 | 1,382,450 | -% |
2023-08-15 | PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | added | 20,359 | 4,095,000 | 4,115,000 | 0.02% |
2023-08-15 | COLONY GROUP LLC | sold off | -100 | -233,000 | - | -% |
Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
---|---|---|---|---|---|
Aug 31, 2023 | trident ffp lp | 0% | 0 | SC 13D/A | |
May 05, 2023 | jpmorgan chase & co | 2.2% | 1,488,512 | SC 13G/A | |
Apr 07, 2023 | wasatch advisors lp | - | 0 | SC 13G/A | |
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 |
Date Filed | Form Type | Document | |
---|---|---|---|
Sep 11, 2023 | 15-12G | 15-12G | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading | |
Sep 01, 2023 | 4 | Insider Trading |
4.7%
14.6%
79.6%
70.4%
61.1%
Y-axis is the maximum loss one would have experienced if Focus Financial Partners was unfortunately bought at previous high price.
Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
Revenue | 2.1% | 2,209 | 2,164 | 2,143 | 2,120 | 2,054 | 1,940 | 1,798 | 1,654 | 1,531 | 1,418 | 1,361 | 1,322 | 1,307 | 1,295 | 1,218 | 1,126 | 1,045 | 975 | 911 | 853 | 798 |
S&GA Expenses | 5.0% | 421 | 401 | 376 | 362 | 348 | 322 | 298 | 272 | 254 | 238 | 236 | 235 | 236 | 243 | 233 | 219 | 204 | 186 | 170 | 156 | 144 |
EBITDA | -100.0% | - | 224 | 278 | 297 | 241 | 158 | 100 | 74.00 | 71.00 | 75.00 | 120 | 112 | 108 | 113 | 62.00 | 81.00 | 47.00 | 39.00 | 33.00 | 2.00 | 1.00 |
EBITDA Margin | -100.0% | - | 0.10* | 0.13* | 0.14* | 0.12* | 0.08* | 0.06* | 0.04* | 0.05* | 0.05* | 0.09* | 0.09* | 0.08* | 0.09* | 0.05* | 0.07* | 0.04* | 0.04* | 0.04* | 0.00* | 0.00* |
Interest Expenses | 22.5% | 155 | 126 | 100 | 81.00 | 71.00 | 62.00 | 55.00 | 47.00 | 39.00 | 39.00 | 42.00 | 48.00 | 55.00 | 59.00 | 58.00 | 54.00 | 51.00 | 55.00 | 56.00 | 60.00 | 61.00 |
Earnings Before Taxes | -95.7% | 4.00 | 98.00 | 178 | 216 | 170 | 96.00 | 45.00 | 27.00 | 31.00 | 27.00 | 70.00 | 56.00 | 44.00 | 45.00 | -4.98 | 18.00 | -13.37 | -24.81 | -31.64 | -65.44 | -67.58 |
EBT Margin | -100.0% | - | 0.05* | 0.08* | 0.10* | 0.08* | 0.05* | 0.02* | 0.02* | 0.02* | 0.02* | 0.05* | 0.04* | 0.03* | 0.03* | 0.00* | 0.02* | -0.01* | -0.03* | -0.03* | -0.08* | -0.08* |
Net Income | -1.5% | 61.00 | 62.00 | 92.00 | 99.00 | 70.00 | 39.00 | 10.00 | 6.00 | 7.00 | 8.00 | 28.00 | 12.00 | 12.00 | 10.00 | -12.87 | 9.00 | -2.74 | -11.19 | -20.30 | -39.60 | -67.28 |
Net Income Margin | -100.0% | - | 0.03* | 0.04* | 0.05* | 0.03* | 0.02* | 0.01* | 0.00* | 0.00* | 0.01* | 0.02* | 0.01* | 0.01* | 0.01* | -0.01* | 0.01* | 0.00* | -0.01* | -0.02* | -0.05* | -0.08* |
Free Cashflow | -100.0% | - | 267 | 268 | 289 | 278 | 264 | 303 | 298 | 281 | 223 | 192 | 186 | 183 | 155 | 169 | 126 | 109 | 100 | 97.00 | 85.00 | 51.00 |
Balance Sheet | (In Millions) | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2017Q4 |
Assets | 3.9% | 5,221 | 5,026 | 4,867 | 4,785 | 4,811 | 4,706 | 4,709 | 4,088 | 3,387 | 3,214 | 3,063 | 2,729 | 2,661 | 2,849 | 2,654 | 2,645 | 2,421 | 2,396 | 1,938 | 1,741 | 1,235 |
Cash Equivalents | 36.8% | 137 | 100 | 140 | 129 | 221 | 317 | 311 | 642 | 144 | 170 | 66.00 | 43.00 | 35.00 | 233 | 65.00 | 51.00 | 38.00 | 84.00 | 33.00 | 98.00 | 51.00 |
Net PPE | -0.1% | 57.00 | 57.00 | 55.00 | 50.00 | 47.00 | 47.00 | 47.00 | 46.00 | 47.00 | 49.00 | 49.00 | 45.00 | 42.00 | 42.00 | 42.00 | 40.00 | 34.00 | 25.00 | 25.00 | 22.00 | 21.00 |
Goodwill | 4.4% | 2,311 | 2,213 | 2,168 | 2,093 | 2,050 | 1,928 | 1,925 | 1,429 | 1,316 | 1,254 | 1,256 | 1,126 | 1,121 | 1,112 | 1,090 | 1,073 | 989 | 946 | 860 | 693 | 515 |
Liabilities | 4.1% | 3,850 | 3,699 | 3,563 | 3,498 | 3,562 | 3,523 | 3,592 | 3,187 | 2,487 | 2,337 | 2,204 | 1,891 | 1,830 | 2,022 | 1,850 | 1,831 | 1,605 | 1,584 | 1,125 | 1,092 | 1,149 |
Shareholder's Equity | -18.5% | 1,081 | 1,327 | 1,054 | 1,059 | 1,249 | 1,183 | 1,117 | 901 | 899 | 878 | 859 | 839 | 831 | 827 | 804 | 814 | 816 | 812 | 813 | 649 | - |
Retained Earnings | 27.7% | 148 | 116 | 117 | 116 | 87.00 | 54.00 | 25.00 | 17.00 | 17.00 | 15.00 | 15.00 | 11.00 | 9.00 | 7.00 | -13.46 | -1.46 | -2.74 | -3.53 | -0.59 | -10.20 | -92* |
Additional Paid-In Capital | 0.7% | 914 | 908 | 918 | 930 | 910 | 866 | 842 | 660 | 650 | 590 | 527 | 537 | 503 | 520 | 498 | - | 490 | 459 | 471 | 390 | 100* |
Minority Interest | 0.0% | 290 | 290 | 249 | 228 | 235 | 241 | 247 | 226 | 230 | 271 | 319 | 298 | 326 | 308 | 320 | 316 | 330 | 357 | 343 | 269 | - |
Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
Cashflow From Operations | -8.2% | 266 | 290 | 289 | 306 | 291 | 275 | 314 | 311 | 299 | 242 | 211 | 203 | 204 | 182 | 195 | 150 | 124 | 109 | 106 | 94.00 | 59.00 |
Share Based Compensation | 0.6% | 32.00 | 32.00 | 30.00 | 29.00 | 27.00 | 26.00 | 32.00 | 31.00 | 31.00 | 30.00 | 22.00 | 21.00 | 20.00 | 19.00 | 18.00 | 26.00 | 46.00 | 45.00 | 44.00 | 35.00 | 15.00 |
Cashflow From Investing | 34.8% | -361 | -554 | -475 | -1,076 | -1,165 | -990 | -1,007 | -601 | -413 | -345 | -372 | -123 | -322 | -406 | -556 | -634 | -501 | -620 | -446 | -333 | -333 |
Cashflow From Financing | -77.4% | 11.00 | 49.00 | 17.00 | 259 | 953 | 863 | 939 | 890 | 223 | 39.00 | 162 | -88.52 | 116 | 374 | 394 | 438 | 383 | 567 | 322 | 285 | 246 |
Unaudited condensed consolidated statements of operations - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
REVENUES: | ||||
Total revenues | $ 583,805 | $ 539,211 | $ 1,141,312 | $ 1,075,778 |
OPERATING EXPENSES: | ||||
Compensation and related expenses | 208,532 | 178,131 | 414,948 | 359,931 |
Management fees | 139,035 | 136,802 | 263,629 | 274,641 |
Selling, general and administrative | 114,991 | 94,771 | 227,807 | 183,421 |
Intangible amortization | 74,623 | 64,649 | 146,409 | 124,925 |
Non-cash changes in fair value of estimated contingent consideration | 6,076 | (42,757) | 22,564 | (51,742) |
Depreciation and other amortization | 4,053 | 3,805 | 8,020 | 7,438 |
Total operating expenses | 547,310 | 435,401 | 1,083,377 | 898,614 |
INCOME FROM OPERATIONS | 36,495 | 103,810 | 57,935 | 177,164 |
OTHER INCOME (EXPENSE): | ||||
Interest income | 639 | 17 | 1,103 | 20 |
Interest expense | (48,341) | (19,892) | (92,270) | (37,508) |
Amortization of debt financing costs | (1,115) | (949) | (2,220) | (2,050) |
Other expense-net | (229) | (1,451) | (2,954) | (1,487) |
Income from equity method investments | 354 | 11 | 529 | 106 |
Total other expense-net | (48,692) | (22,264) | (95,812) | (40,919) |
INCOME (LOSS) BEFORE INCOME TAX | (12,197) | 81,546 | (37,877) | 136,245 |
INCOME TAX EXPENSE (BENEFIT) | (41,279) | 32,228 | (59,982) | 47,845 |
NET INCOME | 29,082 | 49,318 | 22,105 | 88,400 |
Non-controlling interest | 3,095 | (16,235) | 9,440 | (26,215) |
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS | 32,177 | 33,083 | 31,545 | 62,185 |
Wealth management fees | ||||
REVENUES: | ||||
Total revenues | 555,574 | 517,421 | 1,089,463 | 1,032,600 |
Other | ||||
REVENUES: | ||||
Total revenues | $ 28,231 | $ 21,790 | $ 51,849 | $ 43,178 |
Class A common stock | ||||
Income (loss) per share of Class A common stock: | ||||
Basic (in dollars per share) | $ 0.49 | $ 0.51 | $ 0.48 | $ 0.95 |
Diluted (in dollars per share) | $ (0.10) | $ 0.50 | $ (0.32) | $ 0.95 |
Weighted average shares of Class A common stock outstanding: | ||||
Basic (in shares) | 65,999,323 | 65,389,642 | 65,969,827 | 65,360,667 |
Diluted (in shares) | 85,668,061 | 65,596,377 | 85,144,280 | 65,682,081 |
Unaudited condensed consolidated balance sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
---|---|---|
ASSETS | ||
Cash and cash equivalents | $ 137,040 | $ 139,973 |
Accounts receivable less allowances of $3,862 at 2022 and $4,349 at 2023 | 236,790 | 217,219 |
Prepaid expenses and other assets | 206,983 | 151,356 |
Fixed assets-net | 56,796 | 54,748 |
Operating lease assets | 269,592 | 258,697 |
Debt financing costs-net | 6,818 | 7,590 |
Deferred tax assets-net | 238,677 | 230,130 |
Goodwill | 2,310,675 | 2,167,917 |
Other intangible assets-net | 1,757,799 | 1,639,124 |
TOTAL ASSETS | 5,221,170 | 4,866,754 |
LIABILITIES | ||
Accounts payable | 13,605 | 12,213 |
Accrued expenses | 97,443 | 80,679 |
Deferred revenue | 9,826 | 10,726 |
Contingent consideration and other liabilities | 523,568 | 335,033 |
Deferred tax liabilities | 46,587 | 29,579 |
Operating lease liabilities | 302,861 | 288,895 |
Borrowings under credit facilities (stated value of $2,563,970 and $2,650,818 at December 31, 2022 and June 30, 2023, respectively) | 2,600,437 | 2,510,749 |
Tax receivable agreements obligations | 215,013 | 224,611 |
TOTAL LIABILITIES | 3,850,339 | 3,563,459 |
COMMITMENTS AND CONTINGENCIES (Note 12) | ||
EQUITY | ||
Additional paid-in capital | 913,612 | 918,044 |
Retained earnings | 148,324 | 116,779 |
Accumulated other comprehensive income | 18,606 | 18,318 |
Total shareholders' equity | 1,081,327 | 1,053,918 |
Non-controlling interest | 289,504 | 249,377 |
Total equity | 1,370,831 | 1,303,295 |
TOTAL LIABILITIES AND EQUITY | 5,221,170 | 4,866,754 |
Related Party | ||
LIABILITIES | ||
Due to affiliates | 40,999 | 70,974 |
Class A common stock | ||
EQUITY | ||
Common stock | 660 | 659 |
Class B common stock | ||
EQUITY | ||
Common stock | $ 125 | $ 118 |