Public Storage (PSA) FY2012 results: revenue $1.8 billion, up 6.1% on the year
Public Storage (PSA) reported revenue of $1.8 billion for fiscal 2012, the year ended 31 December 2012, up 6.1% on the year before. Net income was $939 million, up 14.0%, and diluted earnings per share $3.90. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$1.8 billion
+6.1% on the year
FY2007FY2012
Operating margin
47.3%
43.9% a year earlier
FY2007FY2012
Net income
$939 million
+14.0% on the year
FY2007FY2012
Diluted EPS
$3.90
+18.5% on the year
FY2007FY2012
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
1,843
1,736
1,614
+6.1%
Operating income
872
763
693
+14.3%
Operating margin
47.3%
43.9%
42.9%
Interest expense
19.8
24.2
30.2
-18.2%
Pre-tax income
n/a
774
694
Net income
939
824
672
+14.0%
Net margin
51.0%
47.5%
41.6%
Diluted EPS
$3.90
$3.29
$2.35
+18.5%
$ 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
1,286
1,203
1,093
+6.8%
Capital expenditure
67.7
69.8
77.5
-2.9%
Free cash flow
1,218
1,134
1,016
+7.4%
Free cash flow margin
66.1%
65.3%
62.9%
Cash from investing
-290
-81.4
-267
Cash from financing
-1,117
-1,439
-1,133
Depreciation and amortisation
358
358
353
-0.2%
Dividends paid
754
621
517
+21.3%
Dividend per share
$4.40
$3.65
$3.05
+20.5%
Diluted shares, weighted
172m
171m
170m
+0.5%
Shares outstanding at period end
171m
170m
169m
+0.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
8,094
8,288
8,677
-2.3%
Non-controlling interest
29.1
22.7
32.3
+28.1%
Debt
469
398
568
+17.7%
Other liabilities
202
223
218
-9.7%
Total liabilities and equity
8,793
8,933
9,495
-1.6%
Goodwill
175
175
175
0.0%
Intangible assets
n/a
n/a
42.1
Securities held for sale or to maturity
n/a
n/a
102
Cash and equivalents
17.2
139
456
-87.6%
Other assets
8,602
8,619
8,720
-0.2%
Total assets
8,793
8,933
9,495
-1.6%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.