Macerich (MAC) FY2015 results: revenue $1.3 billion, up 16.5% on the year
Macerich Co. (MAC) reported revenue of $1.3 billion for fiscal 2015, the year ended 31 December 2015, up 16.5% on the year before. Net income was $488 million, down 67.5%, and diluted earnings per share $3.08. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$1.3 billion
+16.5% on the year
FY2008FY2015
Operating margin
6.7%
5.0% a year earlier
FY2008FY2015
Net income
$488 million
-67.5% on the year
FY2008FY2015
Diluted EPS
$3.08
-70.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,288
1,105
1,029
+16.5%
Operating income
86.0
55.0
25.5
+56.5%
Operating margin
6.7%
5.0%
2.5%
Interest expense
212
191
197
+11.1%
Income tax
-3.2
-4.3
-1.7
Net income
488
1,499
420
-67.5%
Net margin
37.8%
135.6%
40.8%
Diluted EPS
$3.08
$10.45
$3.00
-70.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
555
401
422
+38.5%
Capital expenditure
53.3
66.7
51.7
-20.1%
Free cash flow
502
334
370
+50.2%
Free cash flow margin
38.9%
30.2%
36.0%
Cash from investing
-101
-256
272
Cash from financing
-452
-130
-690
Depreciation and amortisation
471
388
383
+21.5%
Share-based compensation
28.4
29.5
24.2
-3.7%
Buybacks
400
0.0
0.0
Dividends paid
787
386
356
+104.1%
Dividend per share
$4.63
$2.51
$2.36
+84.5%
Diluted shares, weighted
158m
143m
140m
+10.3%
Shares outstanding at period end
154m
158m
141m
-2.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,715
5,640
3,359
-16.4%
Non-controlling interest
356
400
360
-11.0%
Debt
5,261
6,292
4,583
-16.4%
Other liabilities
904
790
774
+14.4%
Total liabilities and equity
11,236
13,122
9,075
-14.4%
Intangible assets
140
268
167
-47.9%
Cash and equivalents
86.5
84.9
69.7
+1.9%
Other assets
11,010
12,769
8,838
-13.8%
Total assets
11,236
13,122
9,075
-14.4%
10-K for the year ended 31 December 2015, filed 23 February 2016: the filing.