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Douglas Emmett (DEI) FY2024 results: revenue $986 million, down 3.3% on the year

Douglas Emmett Inc. (DEI) reported revenue of $986 million for fiscal 2024, the year ended 31 December 2024, down 3.3% on the year before. Net income was $24 million, and diluted earnings per share $0.13. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.

Revenue
$986 million
-3.3% on the year
FY2017FY2024
Operating margin
21.0%
14.7% a year earlier
FY2017FY2024
Net income
$24 million
FY2017FY2024
Diluted EPS
$0.13
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue9861,020994-3.3%
Gross profit636659660-3.4%
Gross margin64.5%64.6%66.4%
Operating income207150242+38.2%
Operating margin21.0%14.7%24.3%
Interest expense229209150+9.5%
Net income23.5-42.797.1
Net margin2.4%-4.2%9.8%
Diluted EPS$0.13-$0.26$0.55
$ 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

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow409427497-4.3%
Capital expenditure167189162-11.5%
Free cash flow241238335+1.5%
Free cash flow margin24.5%23.3%33.7%
Cash from investing-241-234-561
Cash from financing-24660.9-3.0
Depreciation and amortisation384460373-16.5%
Share-based compensation21.019.821.0+6.1%
Buybacks0.01090.0
Dividends paid127130197-2.1%
Dividend per share$0.76$0.76$1.030.0%
Diluted shares, weighted167m170m176m-1.3%
Shares outstanding at period end167m167m176m+0.1%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity2,0592,2202,562-7.3%
Non-controlling interest1,6001,6261,713-1.6%
Debt5,4985,5435,192-0.8%
Other liabilities247256280-3.2%
Total liabilities and equity9,4049,6449,747-2.5%
Fixed assets6.87.07.1-2.6%
Intangible assets2.53.03.5-16.3%
Cash and equivalents445523269-15.0%
Other assets8,9509,1119,468-1.8%
Total assets9,4049,6449,747-2.5%

10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.