LTC Properties (LTC) FY2023 results: revenue $197 million, up 12.6% on the year
LTC Properties Inc. (LTC) reported revenue of $197 million for fiscal 2023, the year ended 31 December 2023, up 12.6% on the year before. Net income was $90 million, down 10.3%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$197 million
+12.6% on the year
FY2016FY2023
Operating margin
94.0%
56.6% a year earlier
FY2016FY2023
Net income
$90 million
-10.3% on the year
FY2016FY2023
Diluted EPS
$2.16
-12.9% on the year
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
104
106
91.2
-1.1%
Capital expenditure
9.7
9.0
6.3
+7.7%
Free cash flow
94.7
96.6
84.9
-1.9%
Free cash flow margin
48.0%
55.1%
54.7%
Cash from investing
-175
-120
-69.8
Cash from financing
80.4
19.6
-24.0
+310.7%
Depreciation and amortisation
37.4
37.5
38.3
-0.2%
Share-based compensation
8.5
8.0
7.8
+6.5%
Dividends paid
94.8
91.5
90.5
+3.6%
Dividend per share
$2.28
$2.28
$2.28
0.0%
Diluted shares, weighted
41m
40m
39m
+3.2%
Shares outstanding at period end
43m
41m
39m
+4.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
881
828
737
+6.4%
Non-controlling interest
35.0
21.9
8.4
+59.5%
Debt
891
768
723
+16.1%
Other liabilities
47.5
37.9
37.0
+25.2%
Total liabilities and equity
1,855
1,656
1,505
+12.0%
Intangible assets
13.1
n/a
n/a
Loans
60.5
n/a
n/a
Cash and equivalents
20.3
10.4
5.2
+95.5%
Other assets
1,761
1,646
1,500
+7.0%
Total assets
1,855
1,656
1,505
+12.0%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.