Federal Realty Investment Trust (FRT) FY2017 results: revenue $857 million, up 7.0% on the year
Federal Realty Investment Trust (FRT) reported revenue of $857 million for fiscal 2017, the year ended 31 December 2017, up 7.0% on the year before. Net income was $290 million, up 16.0%, and diluted earnings per share $3.97. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2018.
Revenue
$857 million
+7.0% on the year
FY2010FY2017
Operating margin
47.8%
40.0% a year earlier
FY2010FY2017
Net income
$290 million
+16.0% on the year
FY2010FY2017
Diluted EPS
$3.97
+13.4% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
857
802
744
+7.0%
Operating income
410
321
300
+27.8%
Operating margin
47.8%
40.0%
40.3%
Interest expense
100
95.0
92.6
+5.4%
Net income
290
250
210
+16.0%
Net margin
33.8%
31.2%
28.3%
Diluted EPS
$3.97
$3.50
$3.03
+13.4%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
459
428
369
+7.4%
Capital expenditure
77.0
57.6
46.1
+33.7%
Free cash flow
382
370
323
+3.3%
Free cash flow margin
44.6%
46.2%
43.4%
Cash from investing
-837
-590
-354
Cash from financing
369
169
-42.2
+118.8%
Depreciation and amortisation
216
194
175
+11.6%
Share-based compensation
11.0
9.9
11.2
+10.8%
Dividend per share
$3.96
$3.84
$3.62
+3.1%
Diluted shares, weighted
72m
71m
69m
+1.7%
Shares outstanding at period end
73m
72m
69m
+1.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,267
1,977
1,664
+14.7%
Non-controlling interest
125
99.1
118
+25.9%
Redeemable equity
141
144
137
-1.8%
Debt
3,232
2,741
2,560
+17.9%
Other liabilities
512
463
418
+10.5%
Total liabilities and equity
6,276
5,423
4,897
+15.7%
Intangible assets
87.0
58.6
n/a
+48.6%
Cash and equivalents
15.2
23.4
21.0
-35.0%
Other assets
6,174
5,341
4,876
+15.6%
Total assets
6,276
5,423
4,897
+15.7%
10-K for the year ended 31 December 2017, filed 13 February 2018: the filing.