Sunstone Hotel Investors (SHO) FY2020 results: revenue $268 million, down 76.0% on the year
Sunstone Hotel Investors, Inc. (SHO) reported revenue of $268 million for fiscal 2020, the year ended 31 December 2020, down 76.0% on the year before. Net income was -$418 million, and diluted earnings per share $-1.93. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$268 million
-76.0% on the year
FY2016FY2020
Operating margin
-147.0%
12.3% a year earlier
FY2016FY2020
Net income
-$418 million
FY2016FY2020
Diluted EPS
-$1.93
FY2016FY2020
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
268
1,115
1,159
-76.0%
Operating income
-394
137
299
Operating margin
-147.0%
12.3%
25.8%
Interest expense
53.3
54.2
47.7
-1.7%
Pre-tax income
-404
143
261
Income tax
6.6
-0.2
1.8
Effective tax rate
n/a
-0.1%
0.7%
Net income
-418
122
236
Net margin
-155.9%
10.9%
20.4%
Diluted EPS
-$1.93
$0.54
$1.05
$ 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
-117
291
305
Capital expenditure
51.4
96.0
159
-46.4%
Free cash flow
-168
195
146
Free cash flow margin
-62.8%
17.5%
12.6%
Cash from investing
114
-47.1
156
Cash from financing
-446
-241
-159
Depreciation and amortisation
137
148
146
-7.2%
Share-based compensation
9.6
9.3
9.0
+2.8%
Buybacks
104
50.1
n/a
+107.4%
Dividends paid
156
170
178
-8.2%
Dividend per share
$0.05
$0.74
$0.69
-93.2%
Diluted shares, weighted
216m
n/a
n/a
Shares outstanding at period end
216m
225m
228m
-4.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,049
2,575
2,663
-20.4%
Non-controlling interest
40.7
46.2
47.7
-11.9%
Debt
748
975
983
-23.3%
Operating lease liabilities
30.0
49.7
n/a
-39.7%
Finance lease liabilities
15.6
15.6
27.0
-0.0%
Other liabilities
103
258
252
-60.1%
Total liabilities and equity
2,986
3,919
3,973
-23.8%
Fixed assets
6.8
7.6
8.4
-11.4%
Goodwill
n/a
n/a
1.0
Cash and equivalents
368
817
809
-54.9%
Receivables
8.6
35.2
33.8
-75.7%
Inventory
n/a
n/a
1.1
Other assets
2,602
3,059
3,119
-14.9%
Total assets
2,986
3,919
3,973
-23.8%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.