Detailed financial statements for Consensus Cloud Solutions, Inc. (CCSI): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Consensus Cloud Solutions, Inc. operates globally, delivering essential information services through its proprietary software-as-a-service (SaaS) platform. The company offers a comprehensive array of digital communication and data management tools. Its prominent eFax service, alongside related brands such as MyFax and MetroFax, facilitates online faxing for individuals and businesses. For corporate clients, eFax Corporate provides advanced digital cloud-fax technology.
Analysis Summary
Consensus Cloud Solutions, Inc. reported revenue of $349.7M in the most recent fiscal year, growing at a 5-year CAGR of 1.1%. Net income reached $84.5M, with a -11.2% 5-year CAGR.
Trailing-twelve-month margins: gross margin 80.2%, operating margin 41.8%, net margin 26.7%. Free cash flow grew at -12.2% CAGR over 5 years.
At the current price of $36.62, CCSI trades at a P/E of 7.23 and an ROE of 5.07%. Market capitalisation stands at $674M.
Balance sheet quality for CCSI: current ratio of 1.8, net debt of $505.8M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $105.9M represents 125% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $598.0M | $322.6M | $331.2M | $352.7M | $362.4M | $362.6M | $350.4M | $349.7M |
| Cost of Revenue | $122.2M | $50.0M | $53.4M | $58.0M | $62.0M | $68.3M | $69.7M | $70.6M |
| Gross Profit | $475.8M | $272.6M | $277.8M | $294.7M | $300.5M | $294.2M | $280.7M | $279.1M |
| Research & Development | $27.7M | $9.7M | $7.1M | $7.7M | $10.0M | $7.7M | $7.7M | $7.5M |
| Selling, General & Admin | $218.0M | $73.0M | $74.0M | $111.9M | $138.5M | $139.3M | $123.6M | $121.4M |
| Operating Expenses | $245.7M | $82.7M | $81.1M | $119.5M | $148.6M | $147.0M | $131.3M | $128.9M |
| Operating Income | $230.1M | $189.8M | $196.7M | $175.1M | $151.9M | $147.2M | $149.4M | $150.2M |
| EBITDA | $290.0M | $321.8M | $308.0M | $227.2M | $165.6M | $166.0M | $176.7M | $168.3M |
| Interest Expense | $37.3M | $43.5M | $75.8M | $14.3M | $51.4M | $45.4M | $34.0M | $35.5M |
| Pre-tax Income | $192.0M | $145.7M | $152.5M | $161.1M | $98.9M | $103.2M | $122.2M | $114.0M |
| Income Tax | $39.9M | -$33.1M | $30.0M | $39.9M | $26.2M | $25.9M | $32.8M | $29.5M |
| Net Income | $152.1M | $213.0M | $152.9M | $109.0M | $72.7M | $77.2M | $89.4M | $84.5M |
| EPS | $7.58 | $10.62 | $6.77 | $6.53 | $3.65 | $3.94 | $4.64 | $4.39 |
| EPS (Diluted) | $7.58 | $10.62 | $6.77 | $6.53 | $3.62 | $3.94 | $4.61 | $4.35 |
| Shares Outstanding (Diluted) | $20.1M | $20.1M | $20.1M | $20.0M | $20.0M | $19.6M | $19.4M | $19.4M |
Balance Sheet (10y)
| Year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $122.8M | $66.2M | $66.8M | $94.2M | $88.7M | $33.5M | $74.7M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $45.9M | $16.1M | $24.8M | $28.0M | $26.3M | $24.9M | $23.7M |
| Inventory | 0 | 0 | 0 | 0 | 0 | $1000 | 0 |
| Total Current Assets | $196.9M | $198.3M | $96.3M | $136.5M | $125.2M | $74.5M | $117.2M |
| Property, Plant & Equipment | $107.6M | $50.8M | $46.7M | $62.8M | $88.0M | $106.6M | $122.0M |
| Goodwill | $877.9M | $342.4M | $339.2M | $346.6M | $348.8M | $345.0M | $352.9M |
| Intangible Assets | $217.9M | $48.8M | $37.9M | $49.2M | $45.0M | $41.2M | $38.8M |
| Total Assets | $1.47B | $1.49B | $562.8M | $633.9M | $647.3M | $602.2M | $663.8M |
| Accounts Payable | $112.6M | $32.8M | $4.9M | $6.3M | $9.9M | $7.4M | $36.0M |
| Short-term Debt | 0 | 0 | 0 | 0 | $8.6M | $18.9M | $7.0M |
| Total Current Liabilities | $226.5M | $204.7M | $78.0M | $71.3M | $71.4M | $79.3M | $65.5M |
| Long-term Debt | $641.0M | 0 | $792.0M | $793.9M | $725.4M | $574.1M | $561.1M |
| Total Liabilities | $1.01B | $368.9M | $895.5M | $889.2M | $823.4M | $681.7M | $650.0M |
| Retained Earnings | 0 | 0 | -$318.9M | -$250.4M | -$173.1M | -$83.7M | $849000 |
| Total Equity | $466.2M | $1.12B | -$332.7M | -$255.3M | -$176.1M | -$79.5M | $13.8M |
| Total Debt | $703.5M | $28.1M | $808.6M | $810.5M | $749.2M | $607.1M | $580.5M |
| Net Debt | $580.8M | -$38.1M | $741.8M | $716.4M | $660.5M | $573.6M | $505.8M |
| Working Capital | -$29.6M | -$6.4M | $18.3M | $65.2M | $53.9M | -$4.8M | $51.6M |
Cash Flow (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $152.1M | $213.0M | $152.9M | $109.0M | $72.7M | $77.2M | $89.4M | $84.5M |
| Depreciation & Amortization | $60.8M | $81.0M | $79.8M | $51.8M | $15.3M | $17.4M | $20.5M | $18.7M |
| Stock-based Compensation | $7.1M | $3.8M | $5.6M | $2.5M | $20.1M | $18.2M | $16.8M | $17.7M |
| Change in Working Capital | -$7.7M | -$35.0M | -$15.3M | -$13.2M | -$27.6M | -$6.0M | -$9.5M | -$11.2M |
| Operating Cash Flow | $235.8M | $226.7M | $238.8M | $233.7M | $83.1M | $114.1M | $121.7M | $136.1M |
| Capital Expenditure | -$14.2M | -$22.9M | -$35.6M | -$34.5M | -$31.0M | -$36.5M | -$33.4M | -$30.2M |
| Acquisitions | -$98.0M | -$281.6M | -$25.9M | -$8.0M | -$12.2M | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | -$7.6M | -$23.5M | -$1.0M | -$23.0M |
| Dividends Paid | -$212.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | $221.6M | $203.8M | $203.2M | $199.2M | $52.1M | $77.7M | $88.3M | $105.9M |
Growth & Margins (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | -46.1% | +2.7% | +6.5% | +2.8% | +0.0% | -3.4% | -0.2% | |
| Net Income Growth (YoY) | +40.1% | -28.2% | -28.7% | -33.3% | +6.2% | +15.8% | -5.5% | |
| EPS Growth (YoY) | +40.1% | -36.3% | -3.5% | -44.1% | +7.9% | +17.8% | -5.4% | |
| Shares Change (YoY) | +0.0% | +0.0% | -0.4% | -0.1% | -1.8% | -1.1% | +0.3% | |
| FCF Growth (YoY) | -8.1% | -0.3% | -2.0% | -73.8% | +49.0% | +13.7% | +19.9% | |
| Gross Margin | 79.6% | 84.5% | 83.9% | 83.6% | 82.9% | 81.2% | 80.1% | 79.8% |
| Operating Margin | 38.5% | 58.9% | 59.4% | 49.7% | 41.9% | 40.6% | 42.6% | 43.0% |
| EBITDA Margin | 48.5% | 99.8% | 93.0% | 64.4% | 45.7% | 45.8% | 50.4% | 48.1% |
| Net Margin | 25.4% | 66.0% | 46.2% | 30.9% | 20.1% | 21.3% | 25.5% | 24.2% |
| FCF Margin | 37.1% | 63.2% | 61.4% | 56.5% | 14.4% | 21.4% | 25.2% | 30.3% |
| Effective Tax Rate | 20.8% | -22.7% | 19.7% | 24.8% | 26.5% | 25.1% | 26.8% | 25.9% |
Per-Share Data (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $11.05 | $10.16 | $10.13 | $9.97 | $2.61 | $3.96 | $4.56 | $5.44 |
| Dividends Per Share | $10.57 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $20.1M | $20.1M | $20.1M | $20.0M | $19.9M | $19.6M | $19.3M | $19.3M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | 506.78% |
| Return on Invested Capital | 17.61% |
| Return on Assets | 13.58% |
| Gross Margin | 80.24% |
| Operating Margin | 41.80% |
| Net Margin | 26.69% |
Financial Health
| Debt / Equity | 13.62 |
| Current Ratio | 1.90 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 1.76 |
Key Ratios (10y)
| Year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| P/E | 4.70 | 3.35 | 5.26 | 8.86 | 14.73 | 6.65 | 5.14 | 4.97 |
| P/B | 0.00 | 1.53 | 0.64 | -3.48 | -4.18 | -2.91 | -5.79 | 30.50 |
| P/S | 1.20 | 2.22 | 2.16 | 3.28 | 2.95 | 1.42 | 1.31 | 1.20 |
| Gross Margin | 79.6% | 84.5% | 83.9% | 83.6% | 82.9% | 81.2% | 80.1% | 79.8% |
| Operating Margin | 38.5% | 58.9% | 59.4% | 49.7% | 41.9% | 40.6% | 42.6% | 43.0% |
| Net Margin | 25.4% | 66.0% | 46.2% | 30.9% | 20.1% | 21.3% | 25.5% | 24.2% |
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Explore sector: Technology · Software - Infrastructure
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