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Camden Property Trust (CPT) FY2022 results: revenue $1.4 billion, up 24.4% on the year

Camden Property Trust (CPT) reported revenue of $1.4 billion for fiscal 2022, the year ended 31 December 2022, up 24.4% on the year before. Net income was $654 million, up 115.1%, and diluted earnings per share $6.04. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.

Revenue
$1.4 billion
+24.4% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$654 million
+115.1% on the year
FY2015FY2022
Diluted EPS
$6.04
+104.1% on the year
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue1,4231,1441,044+24.4%
Cost of revenue498417395+19.4%
Gross profit925727649+27.3%
Gross margin65.0%63.5%62.2%
Interest expense11397.391.5+16.6%
Net income654304124+115.1%
Net margin45.9%26.6%11.9%
Diluted EPS$6.04$2.96$1.24+104.1%
$ 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

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow745577519+29.0%
Capital expenditure4.44.07.5+9.3%
Free cash flow740573512+29.1%
Free cash flow margin52.0%50.1%49.0%
Cash from investing-1,456-804-430
Cash from financing110421307-73.9%
Depreciation and amortisation577421367+37.2%
Share-based compensation12.815.413.9-16.7%
Buybacks0.0n/an/a
Dividends paid397343333+15.7%
Dividend per share$3.76$3.32$3.32+13.3%
Diluted shares, weighted108m103m99m+5.4%
Shares outstanding at period end106m103m97m+3.1%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity4,9874,1973,445+18.8%
Non-controlling interest70.368.871.7+2.2%
Debt3,6813,1703,167+16.1%
Other liabilities590540516+9.3%
Total liabilities and equity9,3287,9777,199+16.9%
Cash and equivalents10.7613420-98.3%
Other assets9,3177,3636,779+26.5%
Total assets9,3287,9777,199+16.9%

10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.