Heidrick & Struggles (HSII) Financials

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-1.48 (-3.81%)

$732.3 M

HSII Mkt cap, 14-Jun-2018

$164.7 M

Heidrick & Struggles Revenue Q1, 2018

Heidrick & Struggles Net income (Q1, 2018)10.2 M

Heidrick & Struggles EBIT (Q1, 2018)13.1 M

Heidrick & Struggles Cash, 31-Mar-201873.4 M

Heidrick & Struggles Revenue Breakdown

Business Segment

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Heidrick & Struggles revenue breakdown by business segment: 6.2% from Culture Shaping, 6.7% from Leadership Consulting and 87.1% from Executive Search

Heidrick & Struggles Financials

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	481 m	513.2 m	548.3 m	600.9 m	640.1 m
Revenue growth, %		7%	7%	10%
Sales and marketing expense				400.1 m
General and administrative expense				147.1 m	147.3 m
Operating expense total				547.2 m	666.6 m
EBIT	15.6 m	26.7 m	34.1 m	35.2 m	(26.5 m)
EBIT margin, %	3%	5%	6%	6%	(4%)
Interest expense	175 k	358 k	122 k	244 k	385 k
Pre tax profit	13.4 m	24.2 m	31.6 m	37.8 m	(29.4 m)
Income tax expense	7 m	17.4 m	14.4 m	22.4 m	19.2 m
Net Income	6.3 m	6.8 m	17.1 m	15.4 m	(48.6 m)

Source: SEC Filings

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Revenue	123.5 m	115.5 m	141 m	130.3 m	118.5 m	137.7 m	142.9 m	134.3 m	153.8 m	148.2 m	144.2 m	157.1 m	164.5 m	164.7 m
Sales and marketing expense	81.7 m	75.9 m	92.1 m	84 m	78.5 m	90.7 m	95.7 m	91.1 m	101.5 m	95.4 m	97.2 m	103.4 m	108.5 m
General and administrative expense	29 m	34.4 m	31.4 m	32.2 m	30 m	33.2 m	29.8 m	35.2 m	35.6 m	36.2 m	36.1 m	38.1 m	37.2 m	35.5 m
Operating expense total	115.2 m	114.8 m	128.4 m	120.7 m	111.8 m	128.5 m	129.9 m	130.4 m	142.1 m	136.2 m	137.5 m	185.5 m	150.4 m	151.5 m
EBIT	8.4 m	780 k	12.5 m	9.6 m	6.7 m	9.2 m	12.9 m	3.9 m	11.7 m	12 m	6.6 m	(28.4 m)	14 m	13.1 m
EBIT margin, %	7%	1%	9%	7%	6%	7%	9%	3%	8%	8%	5%	(18%)	9%	8%
Interest expense	91 k	30 k	110 k	152 k	71 k	175 k	54 k	72 k	58 k	42 k	197 k	96 k	94 k	239 k
Pre tax profit	7.6 m	512 k	12.7 m	8.9 m	6.5 m	9.1 m	11.1 m	4 m	11.8 m	12.4 m	4.1 m	(28.7 m)	14.3 m	12.9 m
Income tax expense	3.4 m	1.3 m	9 m	5.9 m	3.1 m	4.2 m	3.6 m	2.7 m	5.1 m	5.4 m	3.4 m	(10.4 m)	6.1 m	(2.7 m)
Net Income	4.1 m	(744 k)	3.8 m	3 m	3.4 m	5 m	7.5 m	1.3 m	6.7 m	6.9 m	650 k	(18.2 m)	8.2 m	10.2 m

Source: SEC Filings

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	181.6 m	211.4 m	190.5 m	165 m	207.5 m
Accounts Receivable	71.7 m	68.4 m	76.1 m	93.2 m	98.7 m
Inventories
Current Assets	290.8 m	330.3 m	309 m	298.4 m	343.8 m
PP&E	35 m	30.4 m	36.5 m	35.1 m	39.5 m
Goodwill	123.3 m	122.2 m	131.1 m	151.8 m	118.9 m
Total Assets	553.2 m	568.7 m	572.7 m	581.5 m	587.2 m
Accounts Payable	7.8 m	5.5 m	6.2 m	8 m	9.8 m
Short-term debt
Current Liabilities	175.8 m	205.9 m	229.4 m	220.6 m	265.8 m
Long-term debt
Non-Current Liabilities	129.6 m	118.1 m	88.5 m	102.3 m	108.7 m
Total Liabilities	305.4 m	324 m	317.9 m	322.9 m	374.5 m
Additional Paid-in Capital	232 m	232.1 m	232.4 m	230 m	226 m
Retained Earnings	48.5 m	45.4 m	52.6 m	58 m	(716 k)
Total Equity	247.9 m	244.7 m	254.8 m	258.6 m	212.7 m
Financial Leverage	2.2 x	2.3 x	2.2 x	2.2 x	2.8 x

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Cash	132.8 m	101.4 m	123.4 m	159.5 m	107.6 m	119.9 m	129 m	62 m	85.4 m	100 m	68.3 m	58.2 m	105.7 m	73.4 m
Accounts Receivable	11.5 m	85.4 m	105 m	94.1 m	83 m	97.3 m	106.7 m	95.5 m	107.1 m	114.7 m	111.4 m	124.4 m	129.6 m	133.7 m
Current Assets	267.7 m	226.5 m	269.8 m	294.4 m	243.2 m	270.7 m	290.1 m	203.1 m	231.8 m	259 m	225.1 m	225.6 m	280.7 m	268.6 m
PP&E	35.7 m	33.8 m	32.1 m	30.1 m	34.3 m	34.6 m	35.6 m	35.3 m	36.5 m	36.1 m	40.1 m	41.5 m	41.9 m	38.5 m
Goodwill	120.7 m	123.6 m	124 m	122.7 m	121.3 m	121 m	120.2 m	136.7 m	136.1 m	155.3 m	152.6 m	124.7 m	125.7 m	123.3 m
Total Assets	525.8 m	487.8 m	526.1 m	541.6 m	482.1 m	512.2 m	530 m	476.4 m	503.7 m	553.8 m	517.5 m	497.4 m	553.4 m	524.3 m
Accounts Payable	5.6 m	7.9 m	5.5 m	5.5 m	7.7 m	5.7 m	4.1 m	7.8 m	5.8 m	9.6 m	9.9 m	8.2 m	8.3 m	9.6 m
Current Liabilities	155.8 m	125.1 m	158.5 m	177.6 m	140.3 m	159.4 m	190.9 m	138.6 m	155.7 m	190.5 m	142 m	157.4 m	198.1 m	180.4 m
Non-Current Liabilities	123 m	116.9 m	118 m	115.4 m	96.4 m	103.5 m	85 m	82.9 m	87.6 m	97.6 m	117 m	96.6 m	104.4 m	113.5 m
Total Liabilities	278.8 m	242 m	276.6 m	293 m	236.7 m	262.9 m	275.9 m	221.6 m	243.3 m	288 m	259 m	253.9 m	302.5 m	293.9 m
Additional Paid-in Capital	231.9 m	229.7 m	230.6 m	231.4 m	230 m	231.4 m	231 m	226.6 m	228.2 m	229.3 m	224.1 m	224.8 m	225 m	220.9 m
Retained Earnings	49.4 m	45.4 m	46.7 m	47.2 m	46.3 m	48.8 m	53.8 m	51.4 m	55.6 m	60.1 m	56.1 m	35.3 m	40.9 m	22 m
Total Equity	247 m	245.8 m	249.6 m	248.6 m	245.3 m	249.3 m	254.1 m	254.9 m	260.4 m	265.8 m	258.5 m	243.5 m	251 m	230.5 m
Financial Leverage	2.1 x	2 x	2.1 x	2.2 x	2 x	2.1 x	2.1 x	1.9 x	1.9 x	2.1 x	2 x	2 x	2.2 x	2.3 x

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	6.3 m	6.8 m	17.1 m	15.4 m	(48.6 m)
Depreciation and Amortization	16.3 m	15.3 m	13.7 m	16.4 m	14.8 m
Accounts Receivable
Inventories
Accounts Payable	(504 k)	(2.1 m)	810 k	941 k	1.5 m
Cash From Operating Activities	44 m	56.8 m	57.6 m	24.8 m	67 m
Cash From Investing Activities	(5.2 m)	(3.3 m)	(27.5 m)	(27.8 m)	(15.3 m)
Dividends Paid	(7.3 m)	(9.9 m)	(10 m)	(10 m)	(10.1 m)
Cash From Financing Activities	27.2 m	(19.7 m)	(46.3 m)	(20.1 m)	(17.1 m)
Interest Paid	879 k	861 k	442 k	41 k	193 k
Income Taxes Paid					14.8 m
Free Cash Flow	47.8 m	60.1 m	74 m	19.5 m	52.9 m

Quarterly

USD	Q3, 2013	Q1, 2014	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Net Income	4.1 m	(744 k)	3.8 m	3 m	3.4 m	8.4 m	15.9 m	1.3 m	8 m	14.9 m	650 k	(17.6 m)	(9.4 m)	10.2 m
Depreciation and Amortization						6.7 m	10 m	3.7 m	7.6 m	11.7 m	3.8 m	7.6 m	11.3 m	3.2 m
Accounts Receivable			105 m	94.1 m	83 m	97.3 m	106.7 m	95.5 m	(30.1 m)	(33.3 m)	17.2 m	28.5 m	32.6 m	32 m
Accounts Payable			5.5 m	5.5 m	7.7 m	258 k	(1.3 m)	1.5 m	(1 m)	2.3 m	(325 k)	63 k	49 k	(871 k)
Cash From Operating Activities						(63.1 m)	(20 m)	(119.2 m)	(85 m)	(49 m)	(110.5 m)	(86.2 m)	(36 m)	(137.5 m)
Cash From Investing Activities						(11.3 m)	(14.7 m)	(5 m)	(5.6 m)	(24.5 m)	(5.7 m)	(12.1 m)	(14.4 m)	(6 m)
Dividends Paid						(5 m)	(7.5 m)	(2.5 m)	(4.9 m)	(7.4 m)	(2.6 m)	(5.2 m)	(7.7 m)	(2.5 m)
Cash From Financing Activities						(14.7 m)	(43.8 m)	(5.5 m)	(15.1 m)	(17.6 m)	17.8 m	(12 m)	(14.6 m)	7.3 m
Free Cash Flow						(73.4 m)	(33.9 m)	(119.9 m)	(86.1 m)	(51.2 m)	(114.7 m)	(96.7 m)	(49.2 m)	(138.7 m)