Safehold (SAFE) FY2014 results: revenue $445 million, up 13.9% on the year
Safehold Inc. (SAFE) reported revenue of $445 million for fiscal 2014, the year ended 31 December 2014, up 13.9% on the year before. Net income was $16 million, and diluted earnings per share $-0.40. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$445 million
+13.9% on the year
FY2009FY2014
Operating margin
-34.4%
-56.9% a year earlier
FY2009FY2014
Net income
$16 million
FY2009FY2014
Diluted EPS
-$0.40
FY2009FY2014
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
445
391
398
+13.9%
Operating income
-153
-222
-372
Operating margin
-34.4%
-56.9%
-93.7%
Interest expense
224
266
355
-15.7%
Pre-tax income
-83.4
-221
-306
Income tax
3.9
-0.7
8.4
Net income
16.5
-112
-240
Net margin
3.7%
-28.6%
-60.4%
Diluted EPS
-$0.40
-$1.83
-$3.26
$ 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
-10.3
-180
-192
Capital expenditure
68.5
73.1
83.1
-6.3%
Free cash flow
-78.8
-254
-275
Free cash flow margin
-17.7%
-64.9%
-69.2%
Cash from investing
160
893
1,267
-82.1%
Cash from financing
-191
-456
-1,176
Depreciation and amortisation
73.6
71.5
70.8
+2.9%
Share-based compensation
13.3
19.3
15.3
-30.9%
Buybacks
0.0
21.0
4.6
Diluted shares, weighted
85m
n/a
84m
Shares outstanding at period end
85m
84m
84m
+1.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,197
1,243
1,239
-3.7%
Non-controlling interest
51.3
58.2
74.2
-11.9%
Redeemable equity
11.2
11.6
13.7
-3.4%
Debt
4,023
4,158
4,691
-3.3%
Other liabilities
181
171
132
+5.9%
Total liabilities and equity
5,463
5,642
6,151
-3.2%
Intangible assets
50.1
101
69.1
-50.2%
Securities held for sale or to maturity
n/a
1.0
n/a
Cash and equivalents
472
514
256
-8.1%
Other assets
4,941
5,027
5,825
-1.7%
Total assets
5,463
5,642
6,151
-3.2%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.