Alexandria Real Estate Equities (ARE) FY2020 results: revenue $1.9 billion, up 23.1% on the year
Alexandria Real Estate Equities, Inc. (ARE) reported revenue of $1.9 billion for fiscal 2020, the year ended 31 December 2020, up 23.1% on the year before. Net income was $771 million, up 112.3%, and diluted earnings per share $6.01. The figures are the company's own, from the 10-K it filed with the SEC on 1 February 2021.
Revenue
$1.9 billion
+23.1% on the year
FY2013FY2020
Operating margin
12.9%
13.0% a year earlier
FY2013FY2020
Net income
$771 million
+112.3% on the year
FY2013FY2020
Diluted EPS
$6.01
+92.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,886
1,531
1,327
+23.1%
Operating income
244
199
213
+22.5%
Operating margin
12.9%
13.0%
16.1%
Interest expense
172
174
157
-1.2%
Net income
771
363
379
+112.3%
Net margin
40.9%
23.7%
28.6%
Diluted EPS
$6.01
$3.12
$3.52
+92.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
883
684
570
+29.0%
Capital expenditure
1,445
1,225
927
+18.0%
Free cash flow
-563
-541
-357
Free cash flow margin
-29.8%
-35.3%
-26.9%
Cash from investing
-3,278
-3,641
-2,162
Cash from financing
2,750
2,927
1,588
-6.1%
Depreciation and amortisation
698
545
478
+28.2%
Share-based compensation
43.5
43.6
35.0
-0.3%
Dividends paid
533
447
381
+19.2%
Dividend per share
$4.24
$4.00
$3.73
+6.0%
Diluted shares, weighted
126m
113m
103m
+12.4%
Shares outstanding at period end
137m
121m
111m
+13.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
11,726
8,866
7,342
+32.3%
Non-controlling interest
1,707
1,288
542
+32.5%
Redeemable equity
11.3
12.3
10.8
-7.8%
Debt
7,563
6,777
5,478
+11.6%
Other liabilities
1,821
1,447
1,092
+25.9%
Total liabilities and equity
22,828
18,391
14,465
+24.1%
Fixed assets
31.1
23.0
14.8
+35.2%
Cash and equivalents
569
190
234
+199.7%
Other assets
22,228
18,178
14,216
+22.3%
Total assets
22,828
18,391
14,465
+24.1%
10-K for the year ended 31 December 2020, filed 1 February 2021: the filing.