Host Hotels & Resorts (HST) FY2013 results: revenue $5.2 billion, up 2.1% on the year
Host Hotels & Resorts, Inc. (HST) reported revenue of $5.2 billion for fiscal 2013, the year ended 31 December 2013, up 2.1% on the year before. Net income was $317 million, up 419.7%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$5.2 billion
+2.1% on the year
FY2007FY2013
Operating margin
9.9%
7.2% a year earlier
FY2007FY2013
Net income
$317 million
+419.7% on the year
FY2007FY2013
Diluted EPS
$0.42
+425.0% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
5,166
5,059
4,714
+2.1%
Operating income
512
362
309
+41.4%
Operating margin
9.9%
7.2%
6.6%
Interest expense
304
373
371
-18.5%
Pre-tax income
231
23.0
-28.0
+904.3%
Income tax
21.0
31.0
-1.0
-32.3%
Effective tax rate
9.1%
134.8%
n/a
Net income
317
61.0
-15.0
+419.7%
Net margin
6.1%
1.2%
-0.3%
Diluted EPS
$0.42
$0.08
-$0.02
+425.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,019
781
662
+30.5%
Capital expenditure
303
366
327
-17.2%
Free cash flow
716
415
335
+72.5%
Free cash flow margin
13.9%
8.2%
7.1%
Cash from investing
-75.0
-886
-1,576
Cash from financing
-493
-305
628
Depreciation and amortisation
697
722
609
-3.5%
Share-based compensation
18.0
16.0
19.0
+12.5%
Dividends paid
313
187
70.0
+67.4%
Dividend per share
$0.46
$0.30
$0.14
+53.3%
Diluted shares, weighted
748m
720m
693m
+3.9%
Shares outstanding at period end
755m
725m
705m
+4.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
7,228
6,825
n/a
+5.9%
Non-controlling interest
34.0
34.0
n/a
0.0%
Redeemable equity
190
158
n/a
+20.3%
Debt
4,759
461
328
+932.3%
Other liabilities
603
5,516
n/a
-89.1%
Total liabilities and equity
12,814
12,994
n/a
-1.4%
Fixed assets
10,995
11,588
11,383
-5.1%
Cash and equivalents
839
417
826
+101.2%
Other assets
980
989
n/a
-0.9%
Total assets
12,814
12,994
n/a
-1.4%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.