Kimco Realty (KIM) FY2018 results: revenue $1.2 billion, down 3.0% on the year
Kimco Realty Corp. (KIM) reported revenue of $1.2 billion for fiscal 2018, the year ended 31 December 2018, down 3.0% on the year before. Net income was $498 million, up 16.8%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$1.2 billion
-3.0% on the year
FY2011FY2018
Operating margin
50.0%
35.9% a year earlier
FY2011FY2018
Net income
$498 million
+16.8% on the year
FY2011FY2018
Diluted EPS
$1.02
+17.2% 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
1,165
1,201
1,171
-3.0%
Operating income
582
431
394
+35.1%
Operating margin
50.0%
35.9%
33.6%
Interest expense
183
192
193
-4.5%
Pre-tax income
399
240
161
+66.5%
Income tax
1.6
-0.9
78.6
Effective tax rate
0.4%
-0.4%
48.9%
Net income
498
426
379
+16.8%
Net margin
42.7%
35.5%
32.4%
Diluted EPS
$1.02
$0.87
$0.79
+17.2%
$ 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
638
614
592
+3.9%
Capital expenditure
291
207
143
+40.7%
Free cash flow
347
407
449
-14.8%
Free cash flow margin
29.8%
33.9%
38.3%
Cash from investing
254
-294
165
Cash from financing
-987
-224
-805
Depreciation and amortisation
310
361
355
-14.0%
Share-based compensation
18.2
21.6
19.1
-15.5%
Buybacks
75.1
0.0
n/a
Dividends paid
530
506
474
+4.7%
Dividend per share
$1.12
$1.09
$1.03
+2.8%
Diluted shares, weighted
421m
424m
420m
-0.6%
Shares outstanding at period end
421m
426m
425m
-1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
5,334
5,394
5,256
-1.1%
Non-controlling interest
77.2
128
147
-39.6%
Redeemable equity
23.7
16.1
87.0
+46.7%
Debt
4,874
5,479
5,066
-11.0%
Other liabilities
690
747
674
-7.5%
Total liabilities and equity
10,999
11,764
11,231
-6.5%
Securities held for sale or to maturity
n/a
1.3
1.6
Cash and equivalents
144
239
142
-39.8%
Other assets
10,856
11,524
11,087
-5.8%
Total assets
10,999
11,764
11,231
-6.5%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.