Independence Realty Trust (IRT) FY2023 results: revenue $661 million, up 5.2% on the year
Independence Realty Trust, Inc. (IRT) reported revenue of $661 million for fiscal 2023, the year ended 31 December 2023, up 5.2% on the year before. Net income was -$17 million, and diluted earnings per share $-0.08. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2024.
Revenue
$661 million
+5.2% on the year
FY2016FY2023
Operating margin
22.2%
16.2% a year earlier
FY2016FY2023
Net income
-$17 million
FY2016FY2023
Diluted EPS
-$0.08
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
262
250
52.3
+5.1%
Capital expenditure
66.2
61.8
0.2
+7.2%
Free cash flow
196
188
52.1
+4.4%
Free cash flow margin
29.6%
29.9%
20.8%
Cash from investing
-1.7
-136
-216
Cash from financing
-254
-135
216
Depreciation and amortisation
219
253
76.9
-13.4%
Share-based compensation
7.7
7.9
7.2
-3.0%
Buybacks
0.0
n/a
n/a
Dividends paid
135
106
49.8
+27.4%
Dividend per share
$0.62
$0.54
$0.48
+14.8%
Diluted shares, weighted
224m
223m
110m
+0.6%
Shares outstanding at period end
225m
224m
221m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,431
3,597
3,481
-4.6%
Non-controlling interest
136
141
161
-3.8%
Debt
2,549
2,632
2,705
-3.1%
Other liabilities
164
163
159
+0.6%
Total liabilities and equity
6,280
6,532
6,507
-3.9%
Intangible assets
0.1
0.4
53.3
-83.5%
Cash and equivalents
22.9
16.1
36.0
+42.1%
Other assets
6,257
6,516
6,417
-4.0%
Total assets
6,280
6,532
6,507
-3.9%
10-K for the year ended 31 December 2023, filed 28 February 2024: the filing.