Kimco Realty (KIM) FY2020 results: revenue $1.1 billion, down 8.7% on the year
Kimco Realty Corp. (KIM) reported revenue of $1.1 billion for fiscal 2020, the year ended 31 December 2020, down 8.7% on the year before. Net income was $1.0 billion, up 143.7%, and diluted earnings per share $2.25. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$1.1 billion
-8.7% on the year
FY2013FY2020
Operating margin
31.4%
41.2% a year earlier
FY2013FY2020
Net income
$1.0 billion
+143.7% on the year
FY2013FY2020
Diluted EPS
$2.25
+181.2% 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
1,058
1,159
1,165
-8.7%
Operating income
333
478
582
-30.4%
Operating margin
31.4%
41.2%
50.0%
Interest expense
187
177
183
+5.4%
Pre-tax income
928
312
399
+197.4%
Income tax
1.0
-3.3
1.6
Effective tax rate
0.1%
-1.1%
0.4%
Net income
1,001
411
498
+143.7%
Net margin
94.6%
35.4%
42.7%
Diluted EPS
$2.25
$0.80
$1.02
+181.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
590
584
638
+1.1%
Capital expenditure
22.4
119
291
-81.2%
Free cash flow
568
465
347
+22.1%
Free cash flow margin
53.6%
40.1%
29.8%
Cash from investing
-33.3
-120
254
Cash from financing
-387
-483
-987
Depreciation and amortisation
289
278
310
+4.0%
Share-based compensation
23.7
20.2
18.2
+17.3%
Buybacks
0.0
0.0
75.1
Dividends paid
380
532
530
-28.5%
Dividend per share
$0.54
$1.12
$1.12
-51.8%
Diluted shares, weighted
432m
422m
421m
+2.3%
Shares outstanding at period end
433m
432m
421m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,608
4,865
5,334
+15.3%
Non-controlling interest
62.2
64.0
77.2
-2.8%
Redeemable equity
15.8
17.9
23.7
-12.0%
Debt
5,355
5,316
4,874
+0.7%
Other liabilities
573
735
690
-22.1%
Total liabilities and equity
11,614
10,998
10,999
+5.6%
Cash and equivalents
293
124
144
+136.5%
Other assets
11,321
10,874
10,856
+4.1%
Total assets
11,614
10,998
10,999
+5.6%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.