Alexandria Real Estate Equities (ARE) FY2018 results: revenue $1.3 billion, up 17.7% on the year
Alexandria Real Estate Equities, Inc. (ARE) reported revenue of $1.3 billion for fiscal 2018, the year ended 31 December 2018, up 17.7% on the year before. Net income was $379 million, up 124.3%, and diluted earnings per share $3.52. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2019.
Revenue
$1.3 billion
+17.7% on the year
FY2011FY2018
Operating margin
16.1%
15.8% a year earlier
FY2011FY2018
Net income
$379 million
+124.3% on the year
FY2011FY2018
Diluted EPS
$3.52
+122.8% 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
1,327
1,128
922
+17.7%
Operating income
213
178
-53.4
+19.6%
Operating margin
16.1%
15.8%
-5.8%
Interest expense
157
129
107
+22.4%
Net income
379
169
-65.9
+124.3%
Net margin
28.6%
15.0%
-7.1%
Diluted EPS
$3.52
$1.58
-$1.99
+122.8%
$ 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
570
450
393
+26.7%
Capital expenditure
927
894
822
+3.7%
Free cash flow
-357
-443
-428
Free cash flow margin
-26.9%
-39.3%
-46.5%
Cash from investing
-2,162
-1,738
-1,497
Cash from financing
1,588
1,420
1,094
+11.8%
Depreciation and amortisation
478
417
313
+14.6%
Share-based compensation
35.0
25.6
25.4
+36.7%
Dividends paid
381
312
240
+21.9%
Dividend per share
$3.73
$3.45
n/a
+8.1%
Diluted shares, weighted
103m
92m
76m
+12.2%
Shares outstanding at period end
111m
100m
88m
+11.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
7,342
5,950
4,896
+23.4%
Non-controlling interest
542
522
475
+3.8%
Redeemable equity
10.8
11.5
11.3
-6.3%
Debt
5,478
4,765
4,164
+15.0%
Other liabilities
1,092
856
809
+27.6%
Total liabilities and equity
14,465
12,104
10,355
+19.5%
Fixed assets
14.8
11.1
12.8
+33.6%
Cash and equivalents
234
254
125
-7.9%
Other assets
14,216
11,839
10,217
+20.1%
Total assets
14,465
12,104
10,355
+19.5%
10-K for the year ended 31 December 2018, filed 5 February 2019: the filing.