Apple Hospitality REIT (APLE) FY2017 results: revenue $1.2 billion, up 19.0% on the year
Apple Hospitality REIT, Inc. (APLE) reported revenue of $1.2 billion for fiscal 2017, the year ended 31 December 2017, up 19.0% on the year before. Net income was $182 million, up 26.2%, and diluted earnings per share $0.82. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$1.2 billion
+19.0% on the year
FY2010FY2017
Operating margin
18.6%
17.8% a year earlier
FY2010FY2017
Net income
$182 million
+26.2% on the year
FY2010FY2017
Diluted EPS
$0.82
+7.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,239
1,041
898
+19.0%
Cost of revenue
697
583
n/a
+19.7%
Gross profit
541
458
n/a
+18.1%
Gross margin
43.7%
44.0%
n/a
Operating income
231
185
136
+24.5%
Operating margin
18.6%
17.8%
15.1%
Pre-tax income
183
145
118
+26.4%
Income tax
0.8
0.4
0.9
+96.5%
Effective tax rate
0.5%
0.3%
0.8%
Net income
182
145
117
+26.2%
Net margin
14.7%
13.9%
13.1%
Diluted EPS
$0.82
$0.76
$0.65
+7.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
385
331
281
+16.2%
Capital expenditure
63.3
65.1
62.3
-2.8%
Free cash flow
321
266
219
+20.8%
Free cash flow margin
26.0%
25.6%
24.4%
Cash from investing
-158
-162
-82.3
Cash from financing
-225
-162
-199
Depreciation and amortisation
176
n/a
n/a
Buybacks
0.0
7.9
238
Dividends paid
268
229
229
+17.0%
Dividend per share
$1.20
$1.20
$1.27
0.0%
Shares outstanding at period end
230m
223m
174m
+3.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,571
3,517
2,647
+1.5%
Debt
1,222
1,338
998
-8.7%
Other liabilities
109
125
77.6
-12.7%
Total liabilities and equity
4,902
4,980
3,723
-1.6%
Cash and equivalents
0.0
0.0
0.0
Other assets
4,902
4,980
3,723
-1.6%
Total assets
4,902
4,980
3,723
-1.6%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.