Federal Realty Investment Trust (FRT) FY2020 results: revenue $835 million, down 10.7% on the year
Federal Realty Investment Trust (FRT) reported revenue of $835 million for fiscal 2020, the year ended 31 December 2020, down 10.7% on the year before. Net income was $132 million, down 62.8%, and diluted earnings per share $1.62. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$835 million
-10.7% on the year
FY2013FY2020
Operating margin
34.7%
50.3% a year earlier
FY2013FY2020
Net income
$132 million
-62.8% on the year
FY2013FY2020
Diluted EPS
$1.62
-64.9% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
835
936
915
-10.7%
Operating income
290
471
362
-38.5%
Operating margin
34.7%
50.3%
39.5%
Interest expense
136
110
110
+24.3%
Net income
132
354
242
-62.8%
Net margin
15.8%
37.8%
26.4%
Diluted EPS
$1.62
$4.61
$3.18
-64.9%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
370
462
517
-19.9%
Capital expenditure
n/a
82.8
66.1
Free cash flow
n/a
379
451
Free cash flow margin
n/a
40.5%
49.2%
Cash from investing
-368
-317
-192
Cash from financing
662
-100
-241
Depreciation and amortisation
255
240
244
+6.4%
Share-based compensation
11.9
12.3
11.7
-2.9%
Dividend per share
$4.22
$4.14
$4.04
+1.9%
Diluted shares, weighted
76m
75m
73m
+1.0%
Shares outstanding at period end
77m
76m
74m
+1.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,464
2,535
2,346
-2.8%
Non-controlling interest
84.6
101
121
-16.1%
Redeemable equity
138
140
136
-1.5%
Debt
4,309
3,370
3,174
+27.8%
Other liabilities
613
649
512
-5.6%
Total liabilities and equity
7,608
6,795
6,290
+12.0%
Intangible assets
n/a
n/a
83.7
Cash and equivalents
798
127
64.1
+526.5%
Other assets
6,809
6,668
6,142
+2.1%
Total assets
7,608
6,795
6,290
+12.0%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.