Essex Property Trust (ESS) FY2013 results: revenue $611 million, up 14.1% on the year
Essex Property Trust, Inc. (ESS) reported revenue of $611 million for fiscal 2013, the year ended 31 December 2013, up 14.1% on the year before. Net income was $156 million, up 24.7%, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$611 million
+14.1% on the year
FY2008FY2013
Operating margin
30.9%
31.2% a year earlier
FY2008FY2013
Net income
$156 million
+24.7% on the year
FY2008FY2013
Diluted EPS
$4.04
+18.5% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
611
535
467
+14.1%
Operating income
189
167
135
+13.0%
Operating margin
30.9%
31.2%
28.8%
Interest expense
117
112
91.7
+4.1%
Income tax
0.0
0.0
-1.7
Net income
156
125
47.1
+24.7%
Net margin
25.6%
23.4%
10.1%
Diluted EPS
$4.04
$3.41
$1.24
+18.5%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
305
267
217
+14.0%
Capital expenditure
47.3
46.6
16.4
+1.4%
Free cash flow
258
221
200
+16.7%
Free cash flow margin
42.2%
41.3%
42.8%
Cash from investing
-454
-812
-426
Cash from financing
149
550
208
-73.0%
Depreciation and amortisation
205
181
161
+13.2%
Share-based compensation
4.5
4.1
2.9
+8.9%
Buybacks
n/a
n/a
0.0
Dividends paid
181
156
139
+15.6%
Diluted shares, weighted
37m
35m
33m
+6.3%
Shares outstanding at period end
37m
34m
31m
+10.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,885
1,765
1,438
+6.8%
Non-controlling interest
114
115
116
-1.5%
Redeemable equity
4.3
4.3
4.3
0.0%
Debt
3,034
2,819
2,361
+7.6%
Other liabilities
151
144
118
+4.6%
Total liabilities and equity
5,187
4,847
4,037
+7.0%
Intangible assets
4.5
n/a
n/a
Cash and equivalents
18.5
18.6
12.9
-0.6%
Other assets
5,164
4,829
4,024
+6.9%
Total assets
5,187
4,847
4,037
+7.0%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.