Essex Property Trust (ESS) FY2022 results: revenue $1.6 billion, up 11.5% on the year
Essex Property Trust, Inc. (ESS) reported revenue of $1.6 billion for fiscal 2022, the year ended 31 December 2022, up 11.5% on the year before. Net income was $408 million, down 16.4%, and diluted earnings per share $6.27. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2023.
Revenue
$1.6 billion
+11.5% on the year
FY2015FY2022
Operating margin
37.0%
36.8% a year earlier
FY2015FY2022
Net income
$408 million
-16.4% on the year
FY2015FY2022
Diluted EPS
$6.27
-16.5% on the year
FY2015FY2022
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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
976
905
803
+7.8%
Capital expenditure
27.7
49.8
109
-44.3%
Free cash flow
948
855
694
+10.8%
Free cash flow margin
59.0%
59.4%
46.4%
Cash from investing
146
-397
-417
Cash from financing
-1,138
-533
-383
Depreciation and amortisation
539
520
525
+3.7%
Share-based compensation
7.2
7.3
8.2
-1.4%
Buybacks
190
9.2
269
+1,968.5%
Dividends paid
566
543
536
+4.2%
Dividend per share
$8.80
$8.36
$8.31
+5.3%
Diluted shares, weighted
65m
65m
66m
+0.0%
Shares outstanding at period end
65m
65m
65m
-1.0%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
5,716
5,994
6,000
-4.6%
Non-controlling interest
179
183
183
-2.3%
Redeemable equity
27.1
34.7
32.2
-21.7%
Debt
5,958
6,287
6,252
-5.2%
Other liabilities
492
499
469
-1.4%
Total liabilities and equity
12,373
12,998
12,936
-4.8%
Intangible assets
7.4
8.9
4.7
-16.9%
Cash and equivalents
33.3
48.4
73.6
-31.2%
Other assets
12,332
12,941
12,858
-4.7%
Total assets
12,373
12,998
12,936
-4.8%
10-K for the year ended 31 December 2022, filed 23 February 2023: the filing.