Host Hotels & Resorts (HST) FY2019 results: revenue $5.5 billion, down 1.0% on the year
Host Hotels & Resorts, Inc. (HST) reported revenue of $5.5 billion for fiscal 2019, the year ended 31 December 2019, down 1.0% on the year before. Net income was $920 million, down 15.4%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$5.5 billion
-1.0% on the year
FY2012FY2019
Operating margin
14.6%
9.6% a year earlier
FY2012FY2019
Net income
$920 million
-15.4% on the year
FY2012FY2019
Diluted EPS
$1.26
-14.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
5,469
5,524
5,387
-1.0%
Operating income
799
530
676
+50.8%
Operating margin
14.6%
9.6%
12.5%
Interest expense
222
176
167
+26.1%
Pre-tax income
962
1,301
651
-26.1%
Income tax
30.0
150
80.0
-80.0%
Effective tax rate
3.1%
11.5%
12.3%
Net income
920
1,087
564
-15.4%
Net margin
16.8%
19.7%
10.5%
Diluted EPS
$1.26
$1.47
$0.76
-14.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,250
1,300
1,230
-3.8%
Capital expenditure
336
274
205
+22.6%
Free cash flow
914
1,026
1,025
-10.9%
Free cash flow margin
16.7%
18.6%
19.0%
Cash from investing
58.0
100
-267
-42.0%
Cash from financing
-1,315
-748
-402
Depreciation and amortisation
676
944
751
-28.4%
Share-based compensation
15.0
14.0
11.0
+7.1%
Buybacks
482
n/a
n/a
Dividends paid
623
629
628
-1.0%
Dividend per share
$0.85
$0.85
$0.85
0.0%
Diluted shares, weighted
731m
741m
739m
-1.3%
Shares outstanding at period end
713m
740m
739m
-3.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
7,319
7,494
6,973
-2.3%
Non-controlling interest
6.0
72.0
29.0
-91.7%
Redeemable equity
142
128
167
+10.9%
Debt
3,794
3,837
3,954
-1.1%
Operating lease liabilities
606
n/a
n/a
Other liabilities
438
559
570
-21.6%
Total liabilities and equity
12,305
12,090
11,693
+1.8%
Fixed assets
9,671
9,760
9,692
-0.9%
Cash and equivalents
1,573
1,542
913
+2.0%
Other assets
1,061
788
1,088
+34.6%
Total assets
12,305
12,090
11,693
+1.8%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.