NNN REIT (NNN) FY2014 results: revenue $435 million, up 10.5% on the year
NNN REIT, Inc. (NNN) reported revenue of $435 million for fiscal 2014, the year ended 31 December 2014, up 10.5% on the year before. Net income was $191 million, up 19.0%, and diluted earnings per share $1.24. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$435 million
+10.5% on the year
FY2008FY2014
Operating margin
61.2%
61.0% a year earlier
FY2008FY2014
Net income
$191 million
+19.0% on the year
FY2008FY2014
Diluted EPS
$1.24
+12.7% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
435
394
333
+10.5%
Operating income
266
240
203
+11.0%
Operating margin
61.2%
61.0%
61.1%
Interest expense
85.5
85.8
83.8
-0.4%
Pre-tax income
180
154
121
+16.6%
Income tax
-0.1
0.1
-6.9
Effective tax rate
-0.0%
0.0%
-5.7%
Net income
191
160
142
+19.0%
Net margin
43.8%
40.7%
42.7%
Diluted EPS
$1.24
$1.10
$1.11
+12.7%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
297
274
228
+8.1%
Cash from investing
-542
-568
-602
Cash from financing
254
293
374
-13.3%
Depreciation and amortisation
116
99.6
75.3
+16.6%
Share-based compensation
9.2
7.5
8.1
+23.7%
Dividends paid
204
189
167
+8.0%
Dividend per share
$1.65
$1.60
$1.56
+3.1%
Diluted shares, weighted
125m
120m
109m
+4.0%
Shares outstanding at period end
132m
112m
112m
+18.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,083
2,777
2,296
+11.0%
Non-controlling interest
0.6
1.2
1.3
-53.5%
Debt
1,730
1,570
1,587
+10.2%
Other liabilities
103
106
103
-3.4%
Total liabilities and equity
4,916
4,455
3,988
+10.3%
Loans
11.1
17.1
27.8
-35.3%
Cash and equivalents
10.6
1.5
2.1
+614.1%
Other assets
4,894
4,436
3,958
+10.3%
Total assets
4,916
4,455
3,988
+10.3%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.