NNN REIT (NNN) FY2017 results: revenue $585 million, up 9.6% on the year
NNN REIT, Inc. (NNN) reported revenue of $585 million for fiscal 2017, the year ended 31 December 2017, up 9.6% on the year before. Net income was $265 million, up 10.6%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2018.
Revenue
$585 million
+9.6% on the year
FY2010FY2017
Operating margin
64.0%
63.0% a year earlier
FY2010FY2017
Net income
$265 million
+10.6% on the year
FY2010FY2017
Diluted EPS
$1.45
+5.1% 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
585
534
483
+9.6%
Operating income
374
336
289
+11.3%
Operating margin
64.0%
63.0%
59.8%
Interest expense
109
96.4
90.0
+13.2%
Pre-tax income
229
212
198
+7.7%
Income tax
0.0
0.0
10.3
Effective tax rate
0.0%
0.0%
5.2%
Net income
265
240
198
+10.6%
Net margin
45.3%
44.9%
41.0%
Diluted EPS
$1.45
$1.38
$1.20
+5.1%
$ 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
422
415
341
+1.5%
Cash from investing
-626
-780
-645
Cash from financing
-89.2
645
307
Depreciation and amortisation
174
149
135
+16.5%
Share-based compensation
13.0
10.8
9.7
+20.6%
Dividends paid
277
257
229
+7.8%
Dividend per share
$1.86
$1.78
$1.71
+4.5%
Diluted shares, weighted
149m
145m
134m
+3.3%
Shares outstanding at period end
154m
141m
141m
+8.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
3,841
3,917
3,342
-1.9%
Non-controlling interest
0.3
0.1
0.3
+145.7%
Debt
2,580
2,312
1,976
+11.6%
Other liabilities
139
106
142
+32.1%
Total liabilities and equity
6,561
6,334
5,460
+3.6%
Loans
n/a
1.3
8.7
Cash and equivalents
1.4
295
13.7
-99.5%
Other assets
6,559
6,038
5,438
+8.6%
Total assets
6,561
6,334
5,460
+3.6%
10-K for the year ended 31 December 2017, filed 13 February 2018: the filing.