Focus Financial Partners Inc. (FOCS) Financial Statements (2024 and earlier)

Company Profile

Business Address 875 THIRD AVENUE
NEW YORK, NY 10022
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6282 - Investment Advice (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments139,973310,68465,85865,17833,213
Cash and cash equivalents139,973310,68465,85865,17833,213
Total current assets:139,973310,68465,85865,17833,213
Noncurrent Assets
Operating lease, right-of-use asset258,697249,850229,748180,114
Property, plant and equipment54,74847,19949,20941,63424,780
Intangible assets, net (including goodwill)3,807,0413,507,0342,369,0262,093,6871,622,690
Goodwill2,167,9171,925,3151,255,5591,090,231860,495
Intangible assets, net (excluding goodwill)1,639,1241,581,7191,113,4671,003,456762,195
Regulated entity, other noncurrent assets17,7507,5235035,389 
Deferred income tax assets230,130267,332107,28975,453
Total noncurrent assets:4,368,3664,078,9382,755,7752,396,2771,647,470
Other undisclosed assets358,415319,384241,248192,174257,095
TOTAL ASSETS:4,866,7544,709,0063,062,8812,653,6291,937,778
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt29,57931,973   
Deferred income tax liabilities29,57931,973  
Total noncurrent liabilities:29,57931,973   
Other undisclosed liabilities3,533,8803,559,6252,204,0021,849,6591,125,258
Total liabilities:3,563,4593,591,5982,204,0021,849,6591,125,258
Equity
Equity, attributable to parent, including:1,053,918870,544539,799484,120469,662
Additional paid in capital918,044841,753526,664498,186471,386
Accumulated other comprehensive income (loss)18,3183,029(2,167)(1,299)(1,824)
Retained earnings (accumulated deficit)116,77924,99514,583(13,462)(590)
Other undisclosed equity, attributable to parent777767719695690
Equity, attributable to noncontrolling interest249,377246,864319,080319,850342,858
Total equity:1,303,2951,117,408858,879803,970812,520
TOTAL LIABILITIES AND EQUITY:4,866,7544,709,0063,062,8812,653,6291,937,778

Income Statement (P&L) ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues2,143,3211,797,9511,361,3191,218,341910,880
Cost of revenue(1,195,473)(1,194,970)(844,880)(764,642)(605,795)
Gross profit:947,848602,981516,439453,699305,085
Operating expenses(653,540)(500,109)(396,611)(386,053)(260,651)
Operating income:294,308102,872119,82867,64644,434
Nonoperating income (expense)(10,579)85239115(76,071)
Investment income, nonoperating7914224531,1646,775
Other nonoperating expense(11,370)(337)(214)(1,049)(2,350)
Interest and debt expense(101,694)(55,001)(47,752)(58,291)(21,071)
Income (loss) from continuing operations before equity method investments, income taxes:182,03547,95672,3159,470(52,708)
Income from equity method investments319524219755 
Other undisclosed income (loss) from continuing operations before income taxes(3,999)(3,958)(2,909)(15,201)21,071
Income (loss) from continuing operations before income taxes:178,35544,52269,625(4,976)(31,637)
Income tax expense (benefit)(53,077)(20,082)(20,660)(7,049)(9,450)
Income (loss) from continuing operations:125,27824,44048,965(12,025)(41,087)
Income (loss) before gain (loss) on sale of properties:24,44048,965(12,025)(41,087)
Net income (loss):125,27824,44048,965(12,025)(41,087)
Net income (loss) attributable to noncontrolling interest(33,494)(14,028)(20,920)(847)40,497
Net income (loss) available to common stockholders, diluted:91,78410,41228,045(12,872)(590)

Comprehensive Income ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):125,27824,44048,965(12,025)(41,087)
Other undisclosed comprehensive income (loss)19,8907,880(1,041)768(4,509)
Comprehensive income (loss):145,16832,32047,924(11,257)(45,596)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(38,095)(16,712)(20,747)(1,090)43,182
Comprehensive income (loss), net of tax, attributable to parent:107,07315,60827,177(12,347)(2,414)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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