Safehold (SAFE) FY2020 results: revenue $324 million, up 18.4% on the year
Safehold Inc. (SAFE) reported revenue of $324 million for fiscal 2020, the year ended 31 December 2020, up 18.4% on the year before. Net income was -$42 million, and diluted earnings per share $-0.87. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$324 million
+18.4% on the year
FY2013FY2020
Operating margin
-46.3%
-66.4% a year earlier
FY2013FY2020
Net income
-$42 million
FY2013FY2020
Diluted EPS
-$0.87
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
324
274
798
+18.4%
Operating income
-150
-182
-196
Operating margin
-46.3%
-66.4%
-24.6%
Interest expense
127
142
184
-10.5%
Pre-tax income
-116
-155
-17.5
Income tax
0.1
0.4
0.8
-75.9%
Net income
-42.4
324
-32.3
Net margin
-13.1%
118.4%
-4.0%
Diluted EPS
-$0.87
$3.73
-$0.95
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
21.9
-45.6
-24.1
Capital expenditure
15.8
39.9
60.5
-60.5%
Free cash flow
6.1
-85.6
-84.6
Free cash flow margin
1.9%
-31.3%
-10.6%
Cash from investing
31.2
-398
779
Cash from financing
-255
-179
-458
Depreciation and amortisation
58.1
58.3
58.7
-0.3%
Share-based compensation
39.4
30.4
17.6
+29.3%
Buybacks
54.6
68.3
8.3
-20.1%
Dividends paid
32.7
25.1
12.2
+30.3%
Dividend per share
$0.43
$0.39
$0.18
+10.3%
Diluted shares, weighted
76m
81m
68m
-6.2%
Shares outstanding at period end
74m
78m
68m
-4.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
871
1,040
863
-16.3%
Non-controlling interest
193
198
201
-2.1%
Debt
2,569
3,387
3,609
-24.1%
Other liabilities
1,228
460
341
+166.9%
Total liabilities and equity
4,862
5,085
5,014
-4.4%
Intangible assets
2.5
175
156
-98.6%
Cash and equivalents
98.6
307
932
-67.9%
Other assets
4,761
4,603
3,926
+3.4%
Total assets
4,862
5,085
5,014
-4.4%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.