Alexandria Real Estate Equities (ARE) FY2017 results: revenue $1.1 billion, up 22.4% on the year
Alexandria Real Estate Equities, Inc. (ARE) reported revenue of $1.1 billion for fiscal 2017, the year ended 31 December 2017, up 22.4% on the year before. Net income was $169 million, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2019.
Revenue
$1.1 billion
+22.4% on the year
FY2010FY2017
Operating margin
15.8%
-5.8% a year earlier
FY2010FY2017
Net income
$169 million
FY2010FY2017
Diluted EPS
$1.58
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
1,128
922
843
+22.4%
Operating income
178
-53.4
132
Operating margin
15.8%
-5.8%
15.7%
Interest expense
129
107
106
+20.3%
Net income
169
-65.9
144
Net margin
15.0%
-7.1%
17.1%
Diluted EPS
$1.58
-$1.99
$1.63
$ 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
450
393
343
+14.4%
Capital expenditure
894
822
564
+8.8%
Free cash flow
-443
-428
-222
Free cash flow margin
-39.3%
-46.5%
-26.3%
Cash from investing
-1,738
-1,497
-722
Cash from financing
1,420
1,094
419
+29.9%
Depreciation and amortisation
417
313
261
+33.0%
Share-based compensation
25.6
25.4
17.5
+0.7%
Dividends paid
312
240
218
+29.9%
Dividend per share
$3.45
n/a
n/a
Diluted shares, weighted
92m
76m
72m
+21.0%
Shares outstanding at period end
100m
88m
71m
+13.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
5,950
4,896
3,975
+21.5%
Non-controlling interest
522
475
305
+9.9%
Redeemable equity
11.5
11.3
14.2
+1.8%
Debt
4,765
4,164
3,966
+14.4%
Other liabilities
856
809
621
+5.9%
Total liabilities and equity
12,104
10,355
8,881
+16.9%
Fixed assets
11.1
12.8
13.7
-13.8%
Cash and equivalents
254
125
125
+103.5%
Other assets
11,839
10,217
8,742
+15.9%
Total assets
12,104
10,355
8,881
+16.9%
10-K for the year ended 31 December 2017, filed 5 February 2019: the filing.