Alexandria Real Estate Equities (ARE) FY2014 results: revenue $727 million, up 15.2% on the year
Alexandria Real Estate Equities, Inc. (ARE) reported revenue of $727 million for fiscal 2014, the year ended 31 December 2014, up 15.2% on the year before. Net income was $102 million, down 25.4%, and diluted earnings per share $1.01. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$727 million
+15.2% on the year
FY2008FY2014
Operating margin
13.6%
21.3% a year earlier
FY2008FY2014
Net income
$102 million
-25.4% on the year
FY2008FY2014
Diluted EPS
$1.01
-36.9% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
727
631
574
+15.2%
Operating income
98.6
135
94.8
-26.7%
Operating margin
13.6%
21.3%
16.5%
Interest expense
79.3
68.0
69.2
+16.7%
Net income
102
136
93.3
-25.4%
Net margin
14.0%
21.6%
16.2%
Diluted EPS
$1.01
$1.60
$1.09
-36.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
334
313
306
+6.9%
Capital expenditure
498
593
549
-16.1%
Free cash flow
-163
-281
-243
Free cash flow margin
-22.5%
-44.5%
-42.4%
Cash from investing
-635
-591
-558
Cash from financing
331
198
315
+67.7%
Depreciation and amortisation
224
189
186
+18.5%
Share-based compensation
14.0
15.6
14.2
-10.0%
Dividends paid
202
169
126
+19.7%
Diluted shares, weighted
71m
n/a
62m
Shares outstanding at period end
71m
71m
63m
+0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,828
3,917
3,442
-2.3%
Non-controlling interest
66.8
47.7
46.6
+40.0%
Redeemable equity
14.3
14.4
14.6
-0.9%
Debt
3,679
3,061
3,182
+20.2%
Other liabilities
548
490
465
+11.9%
Total liabilities and equity
8,136
7,530
7,150
+8.1%
Fixed assets
9.6
n/a
n/a
Intangible assets
-8.8
-11.4
-14.7
Cash and equivalents
86.0
57.7
141
+49.1%
Other assets
8,049
7,483
7,024
+7.6%
Total assets
8,136
7,530
7,150
+8.1%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.