NNN REIT (NNN) FY2012 results: revenue $333 million, up 28.6% on the year
NNN REIT, Inc. (NNN) reported revenue of $333 million for fiscal 2012, the year ended 31 December 2012, up 28.6% on the year before. Net income was $142 million, up 53.8%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$333 million
+28.6% on the year
FY2008FY2012
Operating margin
61.1%
61.4% a year earlier
FY2008FY2012
Net income
$142 million
+53.8% on the year
FY2008FY2012
Diluted EPS
$1.11
+15.6% 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
333
259
222
+28.6%
Operating income
203
159
129
+28.0%
Operating margin
61.1%
61.4%
58.1%
Interest expense
83.8
75.5
65.2
+10.9%
Pre-tax income
121
84.9
65.4
+43.1%
Income tax
-6.9
0.9
0.5
Effective tax rate
-5.7%
1.1%
0.7%
Net income
142
92.3
73.0
+53.8%
Net margin
42.7%
35.7%
32.9%
Diluted EPS
$1.11
$0.96
$0.80
+15.6%
$ 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
228
178
188
+28.4%
Cash from investing
-602
-752
-220
Cash from financing
374
574
19.2
-35.0%
Depreciation and amortisation
75.3
58.8
49.1
+28.1%
Share-based compensation
8.1
6.4
5.3
+27.2%
Dividends paid
167
134
125
+25.3%
Dividend per share
$1.56
$1.53
$1.51
+2.0%
Diluted shares, weighted
109m
89m
83m
+22.8%
Shares outstanding at period end
112m
84m
84m
+33.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,296
2,002
1,527
+14.7%
Non-controlling interest
1.3
1.4
1.3
-5.7%
Debt
1,587
1,339
1,134
+18.5%
Other liabilities
103
91.4
51.1
+13.2%
Total liabilities and equity
3,988
3,434
2,714
+16.1%
Loans
27.8
33.4
30.3
-16.9%
Cash and equivalents
2.1
2.1
2.0
-0.3%
Other assets
3,958
3,399
2,681
+16.5%
Total assets
3,988
3,434
2,714
+16.1%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.