NNN REIT (NNN) FY2018 results: revenue $623 million, up 6.4% on the year
NNN REIT, Inc. (NNN) reported revenue of $623 million for fiscal 2018, the year ended 31 December 2018, up 6.4% on the year before. Net income was $292 million, up 10.4%, and diluted earnings per share $1.65. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2019.
Revenue
$623 million
+6.4% on the year
FY2011FY2018
Operating margin
68.2%
64.0% a year earlier
FY2011FY2018
Net income
$292 million
+10.4% on the year
FY2011FY2018
Diluted EPS
$1.65
+13.8% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
623
585
534
+6.4%
Operating income
425
374
336
+13.5%
Operating margin
68.2%
64.0%
63.0%
Interest expense
116
109
96.4
+6.2%
Pre-tax income
n/a
229
212
Income tax
0.0
0.0
0.0
Effective tax rate
n/a
0.0%
0.0%
Net income
292
265
240
+10.4%
Net margin
47.0%
45.3%
44.9%
Diluted EPS
$1.65
$1.45
$1.38
+13.8%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
472
422
415
+11.9%
Cash from investing
-609
-626
-780
Cash from financing
250
-89.2
645
Depreciation and amortisation
174
174
149
+0.4%
Share-based compensation
9.3
13.0
10.8
-28.4%
Dividends paid
303
277
257
+9.4%
Dividend per share
$1.95
$1.86
$1.78
+4.8%
Diluted shares, weighted
156m
149m
145m
+4.6%
Shares outstanding at period end
162m
154m
141m
+5.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
4,154
3,841
3,917
+8.2%
Non-controlling interest
0.4
0.3
0.1
+12.0%
Debt
2,839
2,580
2,312
+10.0%
Other liabilities
110
139
106
-21.0%
Total liabilities and equity
7,103
6,561
6,334
+8.3%
Loans
n/a
n/a
1.3
Cash and equivalents
114
1.4
295
+8,277.3%
Other assets
6,989
6,559
6,038
+6.6%
Total assets
7,103
6,561
6,334
+8.3%
10-K for the year ended 31 December 2018, filed 12 February 2019: the filing.