Federal Realty Investment Trust (FRT) FY2016 results: revenue $802 million, up 7.7% on the year
Federal Realty Investment Trust (FRT) reported revenue of $802 million for fiscal 2016, the year ended 31 December 2016, up 7.7% on the year before. Net income was $250 million, up 18.9%, and diluted earnings per share $3.50. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2017.
Revenue
$802 million
+7.7% on the year
FY2009FY2016
Operating margin
40.0%
40.3% a year earlier
FY2009FY2016
Net income
$250 million
+18.9% on the year
FY2009FY2016
Diluted EPS
$3.50
+15.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
802
744
686
+7.7%
Operating income
321
300
271
+6.9%
Operating margin
40.0%
40.3%
39.5%
Interest expense
95.0
92.6
93.9
+2.6%
Net income
250
210
165
+18.9%
Net margin
31.2%
28.3%
24.0%
Diluted EPS
$3.50
$3.03
$2.41
+15.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
428
369
346
+15.9%
Capital expenditure
57.6
46.1
46.3
+24.9%
Free cash flow
370
323
300
+14.6%
Free cash flow margin
46.2%
43.4%
43.7%
Cash from investing
-590
-354
-396
Cash from financing
169
-42.2
9.0
Depreciation and amortisation
194
175
171
+10.7%
Share-based compensation
9.9
11.2
11.8
-11.5%
Dividend per share
$3.84
$3.62
$3.30
+6.1%
Diluted shares, weighted
71m
69m
67m
+3.0%
Shares outstanding at period end
72m
69m
69m
+3.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,977
1,664
1,604
+18.8%
Non-controlling interest
99.1
118
88.2
-16.1%
Redeemable equity
144
137
119
+4.6%
Debt
2,741
2,560
2,340
+7.1%
Other liabilities
463
418
396
+10.9%
Total liabilities and equity
5,423
4,897
4,547
+10.8%
Intangible assets
58.6
n/a
n/a
Cash and equivalents
23.4
21.0
48.0
+11.0%
Other assets
5,341
4,876
4,499
+9.6%
Total assets
5,423
4,897
4,547
+10.8%
10-K for the year ended 31 December 2016, filed 13 February 2017: the filing.