Independence Realty Trust (IRT) FY2020 results: revenue $212 million, up 4.3% on the year
Independence Realty Trust, Inc. (IRT) reported revenue of $212 million for fiscal 2020, the year ended 31 December 2020, up 4.3% on the year before. Net income was $15 million, down 67.8%, and diluted earnings per share $0.16. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$212 million
+4.3% on the year
FY2013FY2020
Operating margin
20.7%
24.8% a year earlier
FY2013FY2020
Net income
$15 million
-67.8% on the year
FY2013FY2020
Diluted EPS
$0.16
-68.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
212
203
191
+4.3%
Cost of revenue
n/a
87.3
83.3
Gross profit
n/a
116
108
Gross margin
n/a
57.0%
56.4%
Operating income
43.8
50.4
51.8
-13.0%
Operating margin
20.7%
24.8%
27.1%
Interest expense
36.5
39.2
36.0
-7.0%
Income tax
0.0
0.0
0.0
Net income
14.8
45.9
26.3
-67.8%
Net margin
7.0%
22.6%
13.7%
Diluted EPS
$0.16
$0.51
$0.30
-68.6%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
75.0
75.0
68.5
-0.1%
Capital expenditure
0.1
0.2
0.6
-66.3%
Free cash flow
74.9
74.8
67.9
+0.2%
Free cash flow margin
35.3%
36.8%
35.5%
Cash from investing
-125
-106
-229
Cash from financing
48.8
29.8
162
+63.7%
Depreciation and amortisation
60.7
52.8
45.2
+14.9%
Share-based compensation
5.6
3.1
2.5
+78.6%
Dividends paid
56.1
64.7
52.5
-13.3%
Dividend per share
$0.54
$0.72
$0.72
-25.0%
Diluted shares, weighted
95m
90m
87m
+4.7%
Shares outstanding at period end
102m
91m
89m
+11.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
708
613
623
+15.5%
Non-controlling interest
4.7
6.5
7.0
-27.3%
Debt
946
986
985
-4.0%
Other liabilities
76.4
58.8
43.8
+30.1%
Total liabilities and equity
1,735
1,664
1,659
+4.3%
Intangible assets
0.8
0.4
0.7
+93.2%
Cash and equivalents
8.8
9.9
9.3
-11.5%
Other assets
1,725
1,654
1,649
+4.3%
Total assets
1,735
1,664
1,659
+4.3%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.