Essex Property Trust (ESS) FY2021 results: revenue $1.4 billion, down 3.7% on the year
Essex Property Trust, Inc. (ESS) reported revenue of $1.4 billion for fiscal 2021, the year ended 31 December 2021, down 3.7% on the year before. Net income was $489 million, down 14.1%, and diluted earnings per share $7.51. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$1.4 billion
-3.7% on the year
FY2014FY2021
Operating margin
36.8%
32.9% a year earlier
FY2014FY2021
Net income
$489 million
-14.1% on the year
FY2014FY2021
Diluted EPS
$7.51
-13.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
905
803
919
+12.7%
Capital expenditure
49.8
109
158
-54.2%
Free cash flow
855
694
761
+23.2%
Free cash flow margin
59.4%
46.4%
52.1%
Cash from investing
-397
-417
-528
Cash from financing
-533
-383
-462
Depreciation and amortisation
520
525
484
-1.0%
Share-based compensation
7.3
8.2
7.0
-10.4%
Buybacks
9.2
269
57.0
-96.6%
Dividends paid
543
536
508
+1.3%
Dividend per share
$8.36
$8.31
$7.80
+0.6%
Diluted shares, weighted
65m
66m
66m
-0.7%
Shares outstanding at period end
65m
65m
66m
+0.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
5,994
6,000
6,220
-0.1%
Non-controlling interest
183
183
183
+0.1%
Redeemable equity
34.7
32.2
37.4
+7.5%
Debt
6,287
6,252
5,809
+0.6%
Other liabilities
499
469
456
+6.4%
Total liabilities and equity
12,998
12,936
12,705
+0.5%
Intangible assets
8.9
4.7
1.2
+89.4%
Cash and equivalents
48.4
73.6
70.1
-34.2%
Other assets
12,941
12,858
12,634
+0.6%
Total assets
12,998
12,936
12,705
+0.5%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.