Mid-America Apartment Communities (MAA) FY2012 results: revenue $447 million, up 15.8% on the year
Mid-America Apartment Communities, Inc. (MAA) reported revenue of $447 million for fiscal 2012, the year ended 31 December 2012, up 15.8% on the year before. Net income was $99 million, up 112.3%, and diluted earnings per share $2.56. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$447 million
+15.8% on the year
FY2008FY2012
Operating margin
25.9%
21.9% a year earlier
FY2008FY2012
Net income
$99 million
+112.3% on the year
FY2008FY2012
Diluted EPS
$2.56
+95.4% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
447
386
337
+15.8%
Operating income
116
84.4
73.1
+37.3%
Operating margin
25.9%
21.9%
21.7%
Interest expense
52.2
51.2
53.8
+2.0%
Pre-tax income
60.2
31.1
18.6
+93.5%
Net income
98.7
46.5
19.0
+112.3%
Net margin
22.1%
12.1%
5.6%
Diluted EPS
$2.56
$1.31
$0.56
+95.4%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
192
152
117
+26.1%
Capital expenditure
25.2
31.6
20.8
-20.4%
Free cash flow
167
121
96.2
+38.3%
Free cash flow margin
37.3%
31.2%
28.5%
Cash from investing
-303
-393
-253
Cash from financing
63.2
252
168
-74.9%
Depreciation and amortisation
120
109
97.1
+10.2%
Share-based compensation
2.0
3.6
3.3
-44.6%
Buybacks
2.0
2.5
1.2
-21.9%
Dividends paid
108
92.0
77.1
+17.1%
Dividend per share
$2.67
$2.54
$2.47
+5.2%
Diluted shares, weighted
43m
39m
32m
+9.9%
Shares outstanding at period end
42m
39m
29m
+8.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
914
718
519
+27.2%
Non-controlling interest
14.8
13.4
22.1
+10.8%
Debt
1,674
1,650
1,500
+1.5%
Other liabilities
148
n/a
135
Total liabilities and equity
2,751
2,322
2,176
+18.5%
Goodwill
4.1
4.1
4.1
0.0%
Cash and equivalents
8.9
57.2
45.8
-84.5%
Other assets
2,738
2,260
2,126
+21.1%
Total assets
2,751
2,322
2,176
+18.5%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.