Apple Hospitality REIT (APLE) FY2018 results: revenue $1.3 billion, up 2.6% on the year
Apple Hospitality REIT, Inc. (APLE) reported revenue of $1.3 billion for fiscal 2018, the year ended 31 December 2018, up 2.6% on the year before. Net income was $206 million, up 12.9%, and diluted earnings per share $0.90. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2019.
Revenue
$1.3 billion
+2.6% on the year
FY2011FY2018
Operating margin
20.3%
18.6% a year earlier
FY2011FY2018
Net income
$206 million
+12.9% on the year
FY2011FY2018
Diluted EPS
$0.90
+9.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,271
1,239
1,041
+2.6%
Cost of revenue
716
697
583
+2.7%
Gross profit
555
541
458
+2.5%
Gross margin
43.7%
43.7%
44.0%
Operating income
258
231
185
+11.8%
Operating margin
20.3%
18.6%
17.8%
Pre-tax income
207
183
145
+12.7%
Income tax
0.6
0.8
0.4
-30.7%
Effective tax rate
0.3%
0.5%
0.3%
Net income
206
182
145
+12.9%
Net margin
16.2%
14.7%
13.9%
Diluted EPS
$0.90
$0.82
$0.76
+9.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
405
385
331
+5.2%
Capital expenditure
74.3
63.3
65.1
+17.4%
Free cash flow
331
321
266
+2.8%
Free cash flow margin
26.0%
26.0%
25.6%
Cash from investing
-210
-158
-162
Cash from financing
-191
-225
-162
Depreciation and amortisation
183
176
n/a
+4.0%
Buybacks
104
0.0
7.9
Dividends paid
276
268
229
+3.0%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Shares outstanding at period end
224m
230m
223m
-2.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,409
3,571
3,517
-4.5%
Debt
1,412
1,222
1,338
+15.5%
Other liabilities
107
109
125
-1.5%
Total liabilities and equity
4,929
4,902
4,980
+0.5%
Cash and equivalents
0.0
0.0
0.0
Other assets
4,929
4,902
4,980
+0.5%
Total assets
4,929
4,902
4,980
+0.5%
10-K for the year ended 31 December 2018, filed 25 February 2019: the filing.