Safehold (SAFE) FY2016 results: revenue $455 million, down 8.2% on the year
Safehold Inc. (SAFE) reported revenue of $455 million for fiscal 2016, the year ended 31 December 2016, down 8.2% on the year before. Net income was $95 million, and diluted earnings per share $0.55. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2017.
Revenue
$455 million
-8.2% on the year
FY2009FY2016
Operating margin
-24.0%
-28.1% a year earlier
FY2009FY2016
Net income
$95 million
FY2009FY2016
Diluted EPS
$0.55
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
455
496
445
-8.2%
Operating income
-109
-139
-153
Operating margin
-24.0%
-28.1%
-34.4%
Interest expense
221
225
224
-1.4%
Pre-tax income
71.7
-107
-83.4
Income tax
-10.2
7.6
3.9
Effective tax rate
-14.2%
n/a
n/a
Net income
95.3
-2.4
16.5
Net margin
20.9%
-0.5%
3.7%
Diluted EPS
$0.55
-$0.62
-$0.40
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
29.5
-58.2
-10.3
Capital expenditure
69.8
81.5
68.5
-14.4%
Free cash flow
-40.3
-140
-78.8
Free cash flow margin
-8.9%
-28.2%
-17.7%
Cash from investing
465
184
160
+152.7%
Cash from financing
-878
113
-191
Depreciation and amortisation
54.3
65.2
73.6
-16.7%
Share-based compensation
10.9
12.0
13.3
-9.4%
Buybacks
99.3
69.5
0.0
+42.9%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
98m
85m
85m
+15.9%
Shares outstanding at period end
72m
81m
85m
-11.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
1,017
1,059
1,197
-4.0%
Non-controlling interest
43.1
42.2
51.3
+2.1%
Redeemable equity
5.0
10.7
11.2
-53.1%
Debt
3,390
4,119
4,023
-17.7%
Other liabilities
371
367
181
+1.1%
Total liabilities and equity
4,826
5,598
5,463
-13.8%
Intangible assets
30.7
33.5
50.1
-8.4%
Cash and equivalents
329
711
472
-53.8%
Other assets
4,466
4,853
4,941
-8.0%
Total assets
4,826
5,598
5,463
-13.8%
10-K for the year ended 31 December 2016, filed 27 February 2017: the filing.