Safehold (SAFE) FY2017 results: revenue $679 million, up 49.2% on the year
Safehold Inc. (SAFE) reported revenue of $679 million for fiscal 2017, the year ended 31 December 2017, up 49.2% on the year before. Net income was $176 million, up 84.3%, and diluted earnings per share $1.56. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$679 million
+49.2% on the year
FY2010FY2017
Operating margin
-5.8%
-24.0% a year earlier
FY2010FY2017
Net income
$176 million
+84.3% on the year
FY2010FY2017
Diluted EPS
$1.56
+183.6% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
679
455
496
+49.2%
Operating income
-39.4
-109
-139
Operating margin
-5.8%
-24.0%
-28.1%
Interest expense
195
221
225
-12.1%
Pre-tax income
50.9
71.7
-107
-29.1%
Income tax
-0.9
-10.2
7.6
Effective tax rate
-1.9%
-14.2%
n/a
Net income
176
95.3
-2.4
+84.3%
Net margin
25.9%
20.9%
-0.5%
Diluted EPS
$1.56
$0.55
-$0.62
+183.6%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
102
29.5
-58.2
+244.3%
Capital expenditure
37.1
69.8
81.5
-46.9%
Free cash flow
64.5
-40.3
-140
Free cash flow margin
9.5%
-8.9%
-28.2%
Cash from investing
263
465
184
-43.4%
Cash from financing
-41.5
-878
113
Depreciation and amortisation
49.9
54.3
65.2
-8.1%
Share-based compensation
18.8
10.9
12.0
+72.8%
Buybacks
45.9
99.3
69.5
-53.8%
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
71m
98m
85m
-27.9%
Shares outstanding at period end
68m
72m
81m
-5.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
880
1,017
1,059
-13.5%
Non-controlling interest
34.5
43.1
42.2
-19.9%
Redeemable equity
0.0
5.0
10.7
Debt
3,476
3,390
4,119
+2.6%
Other liabilities
340
371
367
-8.2%
Total liabilities and equity
4,731
4,826
5,598
-2.0%
Intangible assets
27.1
30.7
33.5
-11.7%
Cash and equivalents
658
329
711
+100.1%
Other assets
4,046
4,466
4,853
-9.4%
Total assets
4,731
4,826
5,598
-2.0%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.