Kimco Realty (KIM) FY2019 results: revenue $1.2 billion, down 0.5% on the year
Kimco Realty Corp. (KIM) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, down 0.5% on the year before. Net income was $411 million, down 17.5%, and diluted earnings per share $0.80. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$1.2 billion
-0.5% on the year
FY2012FY2019
Operating margin
41.2%
50.0% a year earlier
FY2012FY2019
Net income
$411 million
-17.5% on the year
FY2012FY2019
Diluted EPS
$0.80
-21.6% 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
1,159
1,165
1,201
-0.5%
Operating income
478
582
431
-18.0%
Operating margin
41.2%
50.0%
35.9%
Interest expense
177
183
192
-3.2%
Pre-tax income
312
399
240
-21.9%
Income tax
-3.3
1.6
-0.9
Effective tax rate
-1.1%
0.4%
-0.4%
Net income
411
498
426
-17.5%
Net margin
35.4%
42.7%
35.5%
Diluted EPS
$0.80
$1.02
$0.87
-21.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
584
638
614
-8.5%
Capital expenditure
119
291
207
-59.1%
Free cash flow
465
347
407
+33.9%
Free cash flow margin
40.1%
29.8%
33.9%
Cash from investing
-120
254
-294
Cash from financing
-483
-987
-224
Depreciation and amortisation
278
310
361
-10.5%
Share-based compensation
20.2
18.2
21.6
+10.9%
Buybacks
0.0
75.1
0.0
Dividends paid
532
530
506
+0.3%
Dividend per share
$1.12
$1.12
$1.09
0.0%
Diluted shares, weighted
422m
421m
424m
+0.1%
Shares outstanding at period end
432m
421m
426m
+2.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
4,865
5,334
5,394
-8.8%
Non-controlling interest
64.0
77.2
128
-17.1%
Redeemable equity
17.9
23.7
16.1
-24.2%
Debt
5,316
4,874
5,479
+9.1%
Other liabilities
735
690
747
+6.5%
Total liabilities and equity
10,998
10,999
11,764
-0.0%
Securities held for sale or to maturity
n/a
n/a
1.3
Cash and equivalents
124
144
239
-13.7%
Other assets
10,874
10,856
11,524
+0.2%
Total assets
10,998
10,999
11,764
-0.0%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.