Apple Hospitality REIT (APLE) FY2019 results: revenue $1.3 billion, down 0.3% on the year
Apple Hospitality REIT, Inc. (APLE) reported revenue of $1.3 billion for fiscal 2019, the year ended 31 December 2019, down 0.3% on the year before. Net income was $172 million, down 16.6%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$1.3 billion
-0.3% on the year
FY2012FY2019
Operating margin
18.5%
20.3% a year earlier
FY2012FY2019
Net income
$172 million
-16.6% on the year
FY2012FY2019
Diluted EPS
$0.77
-14.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,267
1,271
1,239
-0.3%
Cost of revenue
724
716
697
+1.2%
Gross profit
542
555
541
-2.2%
Gross margin
42.8%
43.7%
43.7%
Operating income
234
258
231
-9.3%
Operating margin
18.5%
20.3%
18.6%
Pre-tax income
173
207
183
-16.5%
Income tax
0.7
0.6
0.8
+15.7%
Effective tax rate
0.4%
0.3%
0.5%
Net income
172
206
182
-16.6%
Net margin
13.6%
16.2%
14.7%
Diluted EPS
$0.77
$0.90
$0.82
-14.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
382
405
385
-5.7%
Capital expenditure
74.9
74.3
63.3
+0.8%
Free cash flow
307
331
321
-7.2%
Free cash flow margin
24.2%
26.0%
26.0%
Cash from investing
-14.3
-210
-158
Cash from financing
-366
-191
-225
Depreciation and amortisation
193
183
176
+5.3%
Buybacks
4.3
104
0.0
-95.8%
Dividends paid
269
276
268
-2.6%
Dividend per share
$1.20
$1.20
$1.20
0.0%
Shares outstanding at period end
224m
224m
230m
-0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,291
3,409
3,571
-3.5%
Debt
1,320
1,412
1,222
-6.5%
Other liabilities
331
107
109
+208.1%
Total liabilities and equity
4,942
4,929
4,902
+0.3%
Cash and equivalents
0.0
0.0
0.0
Other assets
4,942
4,929
4,902
+0.3%
Total assets
4,942
4,929
4,902
+0.3%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.