Independence Realty Trust (IRT) FY2019 results: revenue $203 million, up 6.3% on the year
Independence Realty Trust, Inc. (IRT) reported revenue of $203 million for fiscal 2019, the year ended 31 December 2019, up 6.3% on the year before. Net income was $46 million, up 74.6%, and diluted earnings per share $0.51. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$203 million
+6.3% on the year
FY2012FY2019
Operating margin
24.8%
27.1% a year earlier
FY2012FY2019
Net income
$46 million
+74.6% on the year
FY2012FY2019
Diluted EPS
$0.51
+70.0% 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
203
191
161
+6.3%
Cost of revenue
87.3
83.3
70.7
+4.8%
Gross profit
116
108
90.5
+7.4%
Gross margin
57.0%
56.4%
56.1%
Operating income
50.4
51.8
45.4
-2.8%
Operating margin
24.8%
27.1%
28.2%
Interest expense
39.2
36.0
28.7
+8.9%
Income tax
0.0
0.0
0.0
Net income
45.9
26.3
30.2
+74.6%
Net margin
22.6%
13.7%
18.7%
Diluted EPS
$0.51
$0.30
$0.41
+70.0%
$ 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
75.0
68.5
54.3
+9.4%
Capital expenditure
0.2
0.6
14.4
-58.4%
Free cash flow
74.8
67.9
40.0
+10.0%
Free cash flow margin
36.8%
35.5%
24.8%
Cash from investing
-106
-229
-192
Cash from financing
29.8
162
126
-81.7%
Depreciation and amortisation
52.8
45.2
34.2
+16.8%
Share-based compensation
3.1
2.5
2.0
+23.5%
Dividends paid
64.7
52.5
52.3
+23.4%
Dividend per share
$0.72
$0.72
$0.72
0.0%
Diluted shares, weighted
90m
87m
74m
+3.5%
Shares outstanding at period end
91m
89m
69m
+2.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
613
623
624
-1.6%
Non-controlling interest
6.5
7.0
22.0
-8.1%
Debt
986
985
778
+0.0%
Other liabilities
58.8
43.8
26.1
+34.2%
Total liabilities and equity
1,664
1,659
1,451
+0.3%
Intangible assets
0.4
0.7
1.1
-44.9%
Cash and equivalents
9.9
9.3
9.3
+6.1%
Other assets
1,654
1,649
1,440
+0.3%
Total assets
1,664
1,659
1,451
+0.3%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.