Company name:
Bright Horizons Family Solutions Inc
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IPO SHARE PRICE:$22.00
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IPO DATE:25 January 2013
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TICKER:BFAM
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MAIN STOCK EXCHANGE:New York Stock Exchange
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CURRENT HQ LOCATION:2 Wells Avenue Newton Massachusetts 02459
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FISCAL YEAR END:December 31
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INCORPORATION JURISDICTION:DE
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ORGANIZED AS THE FOLLOWING LEGAL TYPE:Corporation
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Investor Relations Webpage:Coming soon!
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TAX RATE:USA federal corporate nominal income tax rate is 21%
Short Description
Bright Horizons Family Solutions Inc
We are working hard and as soon as possible to provide company description soon. Feel free to reach out to request it sooner: improve@real-clear-investing.com
Balance Sheet
(USD in thousand)
10.3%
4.7%
Selected Year:
31-Dec
2020
2020
Current Assets
Most valuable part of Current Assets is Cash and Marketable Securities which should be watched carefully; at the same time high and growing level of Accounts Receivables is very dangerous sign
16.7%
10.3% —
Cash and cash equivalents
4.7% —
Accounts Receivable
1.7% —
Prepaid expenses and other current assets
Liquidity
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The most liquid asset, however, most companies don't keep much of it and invest excess cash into marketable securities such as Government bonds - in the US - Treasuries
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$23,227 | $15,450 | $27,872 | $384,344 | ||||||
| Accounts Receivable | 117,138 | 131,178 | 148,855 | 176,617 | ||||||
| Deferred tax assets | - | - | - | - | ||||||
| Prepaid income taxes | - | - | 296 | - | ||||||
| Prepaid expenses and other current assets | 52,096 | 47,263 | 52,161 | 63,224 | ||||||
| Total current assets | $192,461 | $193,891 | $228,888 | $624,185 |
16.9%
19.3%
7.4%
38.4%
Selected Year:
31-Dec
2020
2020
Non-Current Assets
Non-current assets characterize company's business: high Property, Plant, and Equipment means that company is in capital-intensive industry which typically is very cyclical (earnings fluctuate a lot); watch out for high level of Goodwill and other non-intangibles which is bad sign as they typically worth very low relative to their value shown on the balance sheet
83.3%
38.4% —
Goodwill
19.3% —
Operating lease - right-of-use assets
16.9% —
Fixed assets net
7.4% —
Other intangible assets
1.3% —
Other assets non-current
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| Fixed assets net | 575,185 | 597,141 | 636,153 | 628,757 | ||||||
| Operating lease - right-of-use assets | - | - | 700,956 | 717,821 | ||||||
| Deferred tax assets | - | - | - | - | ||||||
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Other intangible assets
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348,540 | 323,035 | 304,673 | 274,620 | ||||||
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Goodwill
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1,306,792 | 1,347,611 | 1,412,873 | 1,431,967 | ||||||
| Other assets non-current | - | - | 46,877 | 49,298 | ||||||
| Other non-current assets | 45,666 | 62,628 | 46,877 | - | ||||||
| Total non-current assets | 2,276,183 | 2,330,415 | 3,101,532 | 3,102,463 |
| Total assets | $2,468,644 | $2,524,306 | $3,330,420 | $3,726,648 |
5.3%
5.2%
27.4%
19.6%
10.7%
24.4%
Selected Year:
31-Dec
2020
2020
Current Liabilities
Current Liabilities represent company's short-term dues to others. The most important part to watch for is short-term debt and accounts payables
14.2%
5.3% —
Current portion of deferred revenue
5.2% —
Accounts payable and accrued expenses
2.3% —
Current portion of Operating leases
1.1% —
Other current liabilities
0.3% —
Current maturities of long-term debt
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| Accounts payable and accrued expenses | $132,897 | $154,195 | $167,059 | $194,551 | ||||||
| Current portion of deferred revenue | 155,696 | 170,416 | 191,117 | 197,939 | ||||||
| Borrowings under Revolving Credit Facility | 127,100 | 118,200 | - | - | ||||||
| Current maturities of long-term debt | 10,750 | 10,750 | 10,750 | 10,750 | ||||||
| Current portion of Operating leases | - | - | 83,123 | 87,181 | ||||||
| Other current liabilities | 34,212 | 30,224 | 31,241 | 40,393 | ||||||
| Total current liabilities | $460,655 | $483,785 | $483,290 | $530,814 |
Selected Year:
31-Dec
2020
2020
Non-Current Liabilities
The most critical items are revolving credit facility, term loans, and then notes - any forms of debt; in addition, pay attention to items like pension liabilites and leases- hidden debt
51.3%
27.4% —
Long-term debt
19.6% —
Operating leases
2.8% —
Other non-current liabilities
1.2% —
Deferred tax liability
0.3% —
Deferred revenue
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| Deferred revenue | 8,179 | 5,683 | 10,098 | 10,215 | ||||||
| Deferred tax liability | 74,069 | 71,306 | 58,940 | 45,951 | ||||||
| Deferred rent | 66,499 | - | - | - | ||||||
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Long-term debt
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1,046,011 | 1,036,870 | 1,028,049 | 1,020,137 | ||||||
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Operating leases
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- | 71,817 | 685,910 | 729,754 | ||||||
| Other non-current liabilities | 64,171 | 75,368 | 92,865 | 105,980 | ||||||
| Total long-term liabilities | $1,258,929 | $1,261,044 | $1,875,862 | $1,912,037 |
| Total Liabilities | $1,719,584 | $1,744,829 | $2,359,152 | $2,442,851 |
Selected Year:
31-Dec
2020
2020
Equity
It's residue that is owned by shareholders after satisfying all of the liabilities with all of the assets; the larger the amount, the better the business is
34.4%
24.4% —
Additional paid-in capital
10.7% —
Retained earnings
0.0% —
Common stock
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Preferred Stock
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- | - | - | - | ||||||
| Common stock | 58 | 57 | 58 | 60 | ||||||
| Retained earnings | 35,143 | 193,124 | 373,510 | 400,502 | ||||||
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Additional paid-in capital
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747,155 | 648,651 | 648,031 | 910,304 | ||||||
| Accumulated other comprehensive (loss) income | (33,296) | - | - | - | ||||||
| Accumulated other comprehensive loss | - | (62,355) | (50,331) | (27,069) | ||||||
| Total Equity | $749,060 | $779,477 | $971,268 | $1,283,797 |
| Total Liabilities and Equity | $2,468,644 | $2,524,306 | $3,330,420 | $3,726,648 |