Macerich (MAC) FY2017 results: revenue $994 million, down 4.6% on the year
Macerich Co. (MAC) reported revenue of $994 million for fiscal 2017, the year ended 31 December 2017, down 4.6% on the year before. Net income was $146 million, down 71.7%, and diluted earnings per share $1.02. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2018.
Revenue
$994 million
-4.6% on the year
FY2010FY2017
Operating margin
6.3%
9.3% a year earlier
FY2010FY2017
Net income
$146 million
-71.7% on the year
FY2010FY2017
Diluted EPS
$1.02
-71.0% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
994
1,041
1,288
-4.6%
Operating income
62.9
96.7
86.0
-34.9%
Operating margin
6.3%
9.3%
6.7%
Interest expense
172
164
212
+4.9%
Income tax
15.6
0.7
-3.2
+2,059.8%
Net income
146
517
488
-71.7%
Net margin
14.7%
49.7%
37.8%
Diluted EPS
$1.02
$3.52
$3.08
-71.0%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
386
430
555
-10.0%
Capital expenditure
41.8
47.9
53.3
-12.7%
Free cash flow
345
382
502
-9.7%
Free cash flow margin
34.7%
36.7%
38.9%
Cash from investing
179
454
-101
-60.6%
Cash from financing
-566
-868
-452
Depreciation and amortisation
341
355
471
-4.0%
Share-based compensation
30.8
33.3
28.4
-7.5%
Buybacks
221
800
400
-72.3%
Dividends paid
444
779
787
-43.0%
Dividend per share
$2.87
$2.75
$4.63
+4.4%
Diluted shares, weighted
142m
147m
158m
-3.3%
Shares outstanding at period end
141m
144m
154m
-2.1%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,682
4,106
4,715
-10.3%
Non-controlling interest
286
321
356
-10.9%
Debt
5,170
4,966
5,261
+4.1%
Other liabilities
468
565
904
-17.3%
Total liabilities and equity
9,606
9,958
11,236
-3.5%
Intangible assets
59.9
84.0
140
-28.7%
Cash and equivalents
91.0
94.0
86.5
-3.2%
Other assets
9,455
9,780
11,010
-3.3%
Total assets
9,606
9,958
11,236
-3.5%
10-K for the year ended 31 December 2017, filed 23 February 2018: the filing.