Host Hotels & Resorts (HST) FY2018 results: revenue $5.5 billion, up 2.5% on the year
Host Hotels & Resorts, Inc. (HST) reported revenue of $5.5 billion for fiscal 2018, the year ended 31 December 2018, up 2.5% on the year before. Net income was $1.1 billion, up 92.7%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$5.5 billion
+2.5% on the year
FY2011FY2018
Operating margin
9.6%
12.5% a year earlier
FY2011FY2018
Net income
$1.1 billion
+92.7% on the year
FY2011FY2018
Diluted EPS
$1.47
+93.4% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
5,524
5,387
5,430
+2.5%
Operating income
530
676
684
-21.6%
Operating margin
9.6%
12.5%
12.6%
Interest expense
176
167
154
+5.4%
Pre-tax income
1,301
651
811
+99.8%
Income tax
150
80.0
40.0
+87.5%
Effective tax rate
11.5%
12.3%
4.9%
Net income
1,087
564
762
+92.7%
Net margin
19.7%
10.5%
14.0%
Diluted EPS
$1.47
$0.76
$1.02
+93.4%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,300
1,230
1,303
+5.7%
Capital expenditure
274
205
293
+33.7%
Free cash flow
1,026
1,025
1,010
+0.1%
Free cash flow margin
18.6%
19.0%
18.6%
Cash from investing
100
-267
-99.0
Cash from financing
-748
-402
-1,037
Depreciation and amortisation
944
751
724
+25.7%
Share-based compensation
14.0
11.0
12.0
+27.3%
Buybacks
n/a
n/a
218
Dividends paid
629
628
596
+0.2%
Dividend per share
$0.85
$0.85
$0.85
0.0%
Diluted shares, weighted
741m
739m
744m
+0.2%
Shares outstanding at period end
740m
739m
738m
+0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
7,494
6,973
6,994
+7.5%
Non-controlling interest
72.0
29.0
39.0
+148.3%
Redeemable equity
128
167
165
-23.4%
Debt
3,837
3,954
3,649
-3.0%
Other liabilities
559
570
561
-1.9%
Total liabilities and equity
12,090
11,693
11,408
+3.4%
Fixed assets
9,760
9,692
10,145
+0.7%
Cash and equivalents
1,542
913
372
+68.9%
Other assets
788
1,088
891
-27.6%
Total assets
12,090
11,693
11,408
+3.4%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.