Federal Realty Investment Trust (FRT) FY2014 results: revenue $686 million, up 7.6% on the year
Federal Realty Investment Trust (FRT) reported revenue of $686 million for fiscal 2014, the year ended 31 December 2014, up 7.6% on the year before. Net income was $165 million, up 1.1%, and diluted earnings per share $2.41. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2015.
Revenue
$686 million
+7.6% on the year
FY2008FY2014
Operating margin
39.5%
39.9% a year earlier
FY2008FY2014
Net income
$165 million
+1.1% on the year
FY2008FY2014
Diluted EPS
$2.41
-2.0% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
686
637
606
+7.6%
Operating income
271
254
254
+6.6%
Operating margin
39.5%
39.9%
41.9%
Interest expense
93.9
105
113
-10.5%
Net income
165
163
152
+1.1%
Net margin
24.0%
25.5%
25.1%
Diluted EPS
$2.41
$2.46
$2.35
-2.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
346
314
297
+10.1%
Capital expenditure
46.3
47.1
51.3
-1.6%
Free cash flow
300
267
245
+12.1%
Free cash flow margin
43.7%
42.0%
40.5%
Cash from investing
-396
-345
-274
Cash from financing
9.0
82.6
-53.9
-89.1%
Depreciation and amortisation
171
161
142
+6.2%
Share-based compensation
11.8
10.2
9.5
+15.5%
Dividend per share
$3.30
$3.02
$2.84
+9.3%
Diluted shares, weighted
67m
65m
64m
+3.1%
Shares outstanding at period end
69m
67m
65m
+2.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,604
1,448
1,287
+10.8%
Non-controlling interest
88.2
23.1
23.8
+281.0%
Redeemable equity
119
104
94.4
+14.0%
Debt
2,340
2,249
2,127
+4.1%
Other liabilities
396
395
367
+0.2%
Total liabilities and equity
4,547
4,219
3,899
+7.8%
Cash and equivalents
48.0
88.9
37.0
-46.1%
Other assets
4,499
4,130
3,862
+8.9%
Total assets
4,547
4,219
3,899
+7.8%
10-K for the year ended 31 December 2014, filed 10 February 2015: the filing.