Host Hotels & Resorts (HST) FY2014 results: revenue $5.3 billion, up 3.0% on the year
Host Hotels & Resorts, Inc. (HST) reported revenue of $5.3 billion for fiscal 2014, the year ended 31 December 2014, up 3.0% on the year before. Net income was $732 million, up 130.9%, and diluted earnings per share $0.96. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$5.3 billion
+3.0% on the year
FY2007FY2014
Operating margin
13.0%
9.9% a year earlier
FY2007FY2014
Net income
$732 million
+130.9% on the year
FY2007FY2014
Diluted EPS
$0.96
+128.6% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
5,321
5,166
5,059
+3.0%
Operating income
694
512
362
+35.5%
Operating margin
13.0%
9.9%
7.2%
Interest expense
207
304
373
-31.9%
Pre-tax income
755
231
23.0
+226.8%
Income tax
14.0
21.0
31.0
-33.3%
Effective tax rate
1.9%
9.1%
134.8%
Net income
732
317
61.0
+130.9%
Net margin
13.8%
6.1%
1.2%
Diluted EPS
$0.96
$0.42
$0.08
+128.6%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,140
1,019
781
+11.9%
Capital expenditure
316
303
366
+4.3%
Free cash flow
824
716
415
+15.1%
Free cash flow margin
15.5%
13.9%
8.2%
Cash from investing
n/a
-75.0
-886
Cash from financing
n/a
-493
-305
Depreciation and amortisation
693
697
722
-0.6%
Share-based compensation
22.0
18.0
16.0
+22.2%
Dividends paid
469
313
187
+49.8%
Dividend per share
$0.75
$0.46
$0.30
+63.0%
Diluted shares, weighted
787m
748m
720m
+5.2%
Shares outstanding at period end
756m
755m
725m
+0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
7,336
7,228
6,825
+1.5%
Non-controlling interest
32.0
34.0
34.0
-5.9%
Redeemable equity
225
190
158
+18.4%
Debt
3,957
4,759
461
-16.9%
Other liabilities
622
603
5,516
+3.2%
Total liabilities and equity
12,172
12,814
12,994
-5.0%
Fixed assets
10,494
10,995
11,588
-4.6%
Cash and equivalents
666
839
417
-20.6%
Other assets
1,012
980
989
+3.3%
Total assets
12,172
12,814
12,994
-5.0%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.