Safehold (SAFE) FY2018 results: revenue $798 million, up 17.5% on the year
Safehold Inc. (SAFE) reported revenue of $798 million for fiscal 2018, the year ended 31 December 2018, up 17.5% on the year before. Net income was -$32 million, and diluted earnings per share $-0.95. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$798 million
+17.5% on the year
FY2011FY2018
Operating margin
-24.6%
-5.8% a year earlier
FY2011FY2018
Net income
-$32 million
FY2011FY2018
Diluted EPS
-$0.95
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
798
679
455
+17.5%
Operating income
-196
-39.4
-109
Operating margin
-24.6%
-5.8%
-24.0%
Interest expense
184
195
221
-5.6%
Pre-tax income
-17.5
50.9
71.7
Income tax
0.8
-0.9
-10.2
Effective tax rate
n/a
-1.9%
-14.2%
Net income
-32.3
176
95.3
Net margin
-4.0%
25.9%
20.9%
Diluted EPS
-$0.95
$1.56
$0.55
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-24.1
102
29.5
Capital expenditure
60.5
37.1
69.8
+63.2%
Free cash flow
-84.6
64.5
-40.3
Free cash flow margin
-10.6%
9.5%
-8.9%
Cash from investing
779
263
465
+196.1%
Cash from financing
-458
-41.5
-878
Depreciation and amortisation
58.7
49.9
54.3
+17.6%
Share-based compensation
17.6
18.8
10.9
-6.6%
Buybacks
8.3
45.9
99.3
-81.9%
Dividends paid
12.2
0.0
0.0
Dividend per share
$0.18
n/a
n/a
Diluted shares, weighted
68m
71m
98m
-4.3%
Shares outstanding at period end
68m
68m
72m
-0.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
863
880
1,017
-1.9%
Non-controlling interest
201
34.5
43.1
+482.2%
Redeemable equity
n/a
0.0
5.0
Debt
3,609
3,476
3,390
+3.8%
Other liabilities
341
340
371
+0.2%
Total liabilities and equity
5,014
4,731
4,826
+6.0%
Intangible assets
156
27.1
30.7
+476.2%
Cash and equivalents
932
658
329
+41.7%
Other assets
3,926
4,046
4,466
-3.0%
Total assets
5,014
4,731
4,826
+6.0%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.