Host Hotels & Resorts (HST) FY2016 results: revenue $5.4 billion, up 1.5% on the year
Host Hotels & Resorts, Inc. (HST) reported revenue of $5.4 billion for fiscal 2016, the year ended 31 December 2016, up 1.5% on the year before. Net income was $762 million, up 36.6%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$5.4 billion
+1.5% on the year
FY2009FY2016
Operating margin
12.6%
11.8% a year earlier
FY2009FY2016
Net income
$762 million
+36.6% on the year
FY2009FY2016
Diluted EPS
$1.02
+37.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
5,430
5,350
5,321
+1.5%
Operating income
684
631
694
+8.4%
Operating margin
12.6%
11.8%
13.0%
Interest expense
154
227
207
-32.2%
Pre-tax income
811
574
755
+41.3%
Income tax
40.0
9.0
14.0
+344.4%
Effective tax rate
4.9%
1.6%
1.9%
Net income
762
558
732
+36.6%
Net margin
14.0%
10.4%
13.8%
Diluted EPS
$1.02
$0.74
$0.96
+37.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,303
1,160
1,140
+12.3%
Capital expenditure
293
383
316
-23.5%
Free cash flow
1,010
777
824
+30.0%
Free cash flow margin
18.6%
14.5%
15.5%
Cash from investing
-99.0
n/a
n/a
Cash from financing
-1,037
n/a
n/a
Depreciation and amortisation
724
708
693
+2.3%
Share-based compensation
12.0
11.0
22.0
+9.1%
Buybacks
218
675
n/a
-67.7%
Dividends paid
596
646
469
-7.7%
Dividend per share
$0.85
$0.80
$0.75
+6.2%
Diluted shares, weighted
744m
753m
787m
-1.2%
Shares outstanding at period end
738m
750m
756m
-1.7%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
6,994
7,064
7,336
-1.0%
Non-controlling interest
39.0
40.0
32.0
-2.5%
Redeemable equity
165
143
225
+15.4%
Debt
3,649
3,867
3,957
-5.6%
Other liabilities
561
542
622
+3.5%
Total liabilities and equity
11,408
11,656
12,172
-2.1%
Fixed assets
10,145
10,583
10,494
-4.1%
Cash and equivalents
372
221
666
+68.3%
Other assets
891
852
1,012
+4.6%
Total assets
11,408
11,656
12,172
-2.1%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.