Independence Realty Trust (IRT) FY2018 results: revenue $191 million, up 18.6% on the year
Independence Realty Trust, Inc. (IRT) reported revenue of $191 million for fiscal 2018, the year ended 31 December 2018, up 18.6% on the year before. Net income was $26 million, down 13.0%, and diluted earnings per share $0.30. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$191 million
+18.6% on the year
FY2011FY2018
Operating margin
27.1%
28.2% a year earlier
FY2011FY2018
Net income
$26 million
-13.0% on the year
FY2011FY2018
Diluted EPS
$0.30
-26.8% 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
191
161
153
+18.6%
Cost of revenue
83.3
70.7
68.0
+17.8%
Gross profit
108
90.5
85.4
+19.2%
Gross margin
56.4%
56.1%
55.7%
Operating income
51.8
45.4
39.7
+14.1%
Operating margin
27.1%
28.2%
25.9%
Interest expense
36.0
28.7
35.5
+25.4%
Income tax
0.0
0.0
0.0
Net income
26.3
30.2
-9.8
-13.0%
Net margin
13.7%
18.7%
-6.4%
Diluted EPS
$0.30
$0.41
-$0.19
-26.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
68.5
54.3
-7.5
+26.2%
Capital expenditure
0.6
14.4
10.7
-95.8%
Free cash flow
67.9
40.0
-18.2
+70.0%
Free cash flow margin
35.5%
24.8%
-11.9%
Cash from investing
-229
-192
27.9
Cash from financing
162
126
-37.7
+29.3%
Depreciation and amortisation
45.2
34.2
34.8
+32.2%
Share-based compensation
2.5
2.0
1.2
+28.3%
Buybacks
n/a
n/a
62.2
Dividends paid
52.5
52.3
36.6
+0.3%
Dividend per share
$0.72
$0.72
n/a
0.0%
Diluted shares, weighted
87m
74m
52m
+18.7%
Shares outstanding at period end
89m
69m
69m
+29.3%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
623
624
507
-0.2%
Non-controlling interest
7.0
22.0
21.9
-68.0%
Debt
985
778
744
+26.6%
Other liabilities
43.8
26.1
21.7
+68.1%
Total liabilities and equity
1,659
1,451
1,294
+14.4%
Intangible assets
0.7
1.1
0.1
-32.3%
Cash and equivalents
9.3
9.3
20.9
0.0%
Other assets
1,649
1,440
1,273
+14.5%
Total assets
1,659
1,451
1,294
+14.4%
10-K for the year ended 31 December 2018, filed 22 February 2019: the filing.