NNN REIT (NNN) FY2013 results: revenue $394 million, up 18.3% on the year
NNN REIT, Inc. (NNN) reported revenue of $394 million for fiscal 2013, the year ended 31 December 2013, up 18.3% on the year before. Net income was $160 million, up 12.8%, and diluted earnings per share $1.10. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2014.
Revenue
$394 million
+18.3% on the year
FY2008FY2013
Operating margin
61.0%
61.1% a year earlier
FY2008FY2013
Net income
$160 million
+12.8% on the year
FY2008FY2013
Diluted EPS
$1.10
-0.9% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
394
333
259
+18.3%
Operating income
240
203
159
+18.0%
Operating margin
61.0%
61.1%
61.4%
Interest expense
85.8
83.8
75.5
+2.4%
Pre-tax income
154
121
84.9
+26.9%
Income tax
0.1
-6.9
0.9
Effective tax rate
0.0%
-5.7%
1.1%
Net income
160
142
92.3
+12.8%
Net margin
40.7%
42.7%
35.7%
Diluted EPS
$1.10
$1.11
$0.96
-0.9%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
274
228
178
+20.3%
Cash from investing
-568
-602
-752
Cash from financing
293
374
574
-21.6%
Depreciation and amortisation
99.6
75.3
58.8
+32.2%
Share-based compensation
7.5
8.1
6.4
-8.3%
Dividends paid
189
167
134
+12.9%
Dividend per share
$1.60
$1.56
$1.53
+2.6%
Diluted shares, weighted
120m
109m
89m
+9.8%
Shares outstanding at period end
112m
112m
84m
0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,777
2,296
2,002
+20.9%
Non-controlling interest
1.2
1.3
1.4
-4.6%
Debt
1,570
1,587
1,339
-1.1%
Other liabilities
106
103
91.4
+2.6%
Total liabilities and equity
4,455
3,988
3,434
+11.7%
Loans
17.1
27.8
33.4
-38.4%
Cash and equivalents
1.5
2.1
2.1
-28.5%
Other assets
4,436
3,958
3,399
+12.1%
Total assets
4,455
3,988
3,434
+11.7%
10-K for the year ended 31 December 2013, filed 19 February 2014: the filing.