Federal Realty Investment Trust (FRT) FY2018 results: revenue $915 million, up 6.8% on the year
Federal Realty Investment Trust (FRT) reported revenue of $915 million for fiscal 2018, the year ended 31 December 2018, up 6.8% on the year before. Net income was $242 million, down 16.6%, and diluted earnings per share $3.18. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$915 million
+6.8% on the year
FY2011FY2018
Operating margin
39.5%
47.8% a year earlier
FY2011FY2018
Net income
$242 million
-16.6% on the year
FY2011FY2018
Diluted EPS
$3.18
-19.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
915
857
802
+6.8%
Operating income
362
410
321
-11.8%
Operating margin
39.5%
47.8%
40.0%
Interest expense
110
100
95.0
+10.0%
Net income
242
290
250
-16.6%
Net margin
26.4%
33.8%
31.2%
Diluted EPS
$3.18
$3.97
$3.50
-19.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
517
459
428
+12.5%
Capital expenditure
66.1
77.0
57.6
-14.1%
Free cash flow
451
382
370
+17.9%
Free cash flow margin
49.2%
44.6%
46.2%
Cash from investing
-192
-837
-590
Cash from financing
-241
369
169
Depreciation and amortisation
244
216
194
+13.1%
Share-based compensation
11.7
11.0
9.9
+6.7%
Dividend per share
$4.04
$3.96
$3.84
+2.0%
Diluted shares, weighted
73m
72m
71m
+1.5%
Shares outstanding at period end
74m
73m
72m
+1.6%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,346
2,267
1,977
+3.5%
Non-controlling interest
121
125
99.1
-2.7%
Redeemable equity
136
141
144
-3.5%
Debt
3,174
3,232
2,741
-1.8%
Other liabilities
512
512
463
+0.1%
Total liabilities and equity
6,290
6,276
5,423
+0.2%
Intangible assets
83.7
87.0
58.6
-3.8%
Cash and equivalents
64.1
15.2
23.4
+322.0%
Other assets
6,142
6,174
5,341
-0.5%
Total assets
6,290
6,276
5,423
+0.2%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.