Safehold (SAFE) FY2013 results: revenue $391 million, down 1.7% on the year
Safehold Inc. (SAFE) reported revenue of $391 million for fiscal 2013, the year ended 31 December 2013, down 1.7% on the year before. Net income was -$112 million, and diluted earnings per share $-1.83. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$391 million
-1.7% on the year
FY2009FY2013
Operating margin
-56.9%
-93.7% a year earlier
FY2009FY2013
Net income
-$112 million
FY2009FY2013
Diluted EPS
-$1.83
FY2009FY2013
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
391
398
462
-1.7%
Operating income
-222
-372
-252
Operating margin
-56.9%
-93.7%
-54.6%
Interest expense
266
355
342
-25.0%
Pre-tax income
-221
-306
-55.7
Income tax
-0.7
8.4
-4.7
Net income
-112
-240
-22.1
Net margin
-28.6%
-60.4%
-4.8%
Diluted EPS
-$1.83
-$3.26
-$0.70
$ 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
-180
-192
-28.6
Capital expenditure
73.1
83.1
n/a
-12.1%
Free cash flow
-254
-275
n/a
Free cash flow margin
-64.9%
-69.2%
n/a
Cash from investing
893
1,267
1,461
-29.5%
Cash from financing
-456
-1,176
-1,581
Depreciation and amortisation
71.5
70.8
63.9
+1.1%
Share-based compensation
19.3
15.3
29.7
+25.9%
Buybacks
21.0
4.6
78.8
+353.4%
Diluted shares, weighted
n/a
84m
89m
Shares outstanding at period end
84m
84m
82m
-0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,243
1,239
1,528
+0.3%
Non-controlling interest
58.2
74.2
45.2
-21.6%
Redeemable equity
11.6
13.7
1.3
-15.3%
Debt
4,158
4,691
5,838
-11.4%
Other liabilities
171
132
105
+29.0%
Total liabilities and equity
5,642
6,151
7,518
-8.3%
Intangible assets
101
69.1
53.6
+45.6%
Securities held for sale or to maturity
1.0
n/a
n/a
Cash and equivalents
514
256
357
+100.3%
Other assets
5,027
5,825
7,107
-13.7%
Total assets
5,642
6,151
7,518
-8.3%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.