Safehold (SAFE) FY2019 results: revenue $274 million, down 65.7% on the year
Safehold Inc. (SAFE) reported revenue of $274 million for fiscal 2019, the year ended 31 December 2019, down 65.7% on the year before. Net income was $324 million, and diluted earnings per share $3.73. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2020.
Revenue
$274 million
-65.7% on the year
FY2012FY2019
Operating margin
-66.4%
-24.6% a year earlier
FY2012FY2019
Net income
$324 million
FY2012FY2019
Diluted EPS
$3.73
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
274
798
679
-65.7%
Operating income
-182
-196
-39.4
Operating margin
-66.4%
-24.6%
-5.8%
Interest expense
142
184
195
-22.9%
Pre-tax income
-155
-17.5
50.9
Income tax
0.4
0.8
-0.9
-54.7%
Effective tax rate
n/a
n/a
-1.9%
Net income
324
-32.3
176
Net margin
118.4%
-4.0%
25.9%
Diluted EPS
$3.73
-$0.95
$1.56
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-45.6
-24.1
102
Capital expenditure
39.9
60.5
37.1
-34.0%
Free cash flow
-85.6
-84.6
64.5
Free cash flow margin
-31.3%
-10.6%
9.5%
Cash from investing
-398
779
263
Cash from financing
-179
-458
-41.5
Depreciation and amortisation
58.3
58.7
49.9
-0.7%
Share-based compensation
30.4
17.6
18.8
+73.3%
Buybacks
68.3
8.3
45.9
+722.4%
Dividends paid
25.1
12.2
0.0
+104.9%
Dividend per share
$0.39
$0.18
n/a
+116.7%
Diluted shares, weighted
81m
68m
71m
+18.7%
Shares outstanding at period end
78m
68m
68m
+14.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,040
863
880
+20.6%
Non-controlling interest
198
201
34.5
-1.8%
Redeemable equity
n/a
n/a
0.0
Debt
3,387
3,609
3,476
-6.2%
Other liabilities
460
341
340
+34.9%
Total liabilities and equity
5,085
5,014
4,731
+1.4%
Intangible assets
175
156
27.1
+12.0%
Cash and equivalents
307
932
658
-67.0%
Other assets
4,603
3,926
4,046
+17.2%
Total assets
5,085
5,014
4,731
+1.4%
10-K for the year ended 31 December 2019, filed 24 February 2020: the filing.