Federal Realty Investment Trust (FRT) FY2021 results: revenue $951 million, up 13.9% on the year
Federal Realty Investment Trust (FRT) reported revenue of $951 million for fiscal 2021, the year ended 31 December 2021, up 13.9% on the year before. Net income was $261 million, up 98.5%, and diluted earnings per share $3.26. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2022.
Revenue
$951 million
+13.9% on the year
FY2014FY2021
Operating margin
41.5%
34.7% a year earlier
FY2014FY2021
Net income
$261 million
+98.5% on the year
FY2014FY2021
Diluted EPS
$3.26
+101.2% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
471
370
462
+27.4%
Capital expenditure
n/a
n/a
82.8
Free cash flow
n/a
n/a
379
Free cash flow margin
n/a
n/a
40.5%
Cash from investing
-660
-368
-317
Cash from financing
-453
662
-100
Depreciation and amortisation
280
255
240
+9.8%
Share-based compensation
13.0
11.9
12.3
+9.1%
Dividend per share
$4.26
$4.22
$4.14
+0.9%
Diluted shares, weighted
77m
76m
75m
+2.5%
Shares outstanding at period end
79m
77m
76m
+2.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,581
2,464
2,535
+4.7%
Non-controlling interest
82.5
84.6
101
-2.4%
Redeemable equity
214
138
140
+55.2%
Debt
4,063
4,309
3,370
-5.7%
Other liabilities
682
613
649
+11.3%
Total liabilities and equity
7,622
7,608
6,795
+0.2%
Cash and equivalents
162
798
127
-79.7%
Other assets
7,460
6,809
6,668
+9.6%
Total assets
7,622
7,608
6,795
+0.2%
10-K for the year ended 31 December 2021, filed 10 February 2022: the filing.