Starwood Property Trust (STWD) FY2022 results: revenue $1.5 billion, up 25.2% on the year
Starwood Property Trust, Inc. (STWD) reported revenue of $1.5 billion for fiscal 2022, the year ended 31 December 2022, up 25.2% on the year before. Net income was $871 million, up 94.6%, and diluted earnings per share $2.74. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2023.
Revenue
$1.5 billion
+25.2% on the year
FY2015FY2022
Operating margin
13.1%
15.5% a year earlier
FY2015FY2022
Net income
$871 million
+94.6% on the year
FY2015FY2022
Diluted EPS
$2.74
+80.3% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
214
-990
1,046
Cash from investing
-2,950
-4,282
-912
Cash from financing
2,798
4,873
13.3
-42.6%
Depreciation and amortisation
49.3
83.0
94.4
-40.6%
Share-based compensation
65.1
74.4
65.7
-12.5%
Buybacks
0.0
0.0
33.8
Dividends paid
591
554
547
+6.8%
Dividend per share
$1.92
$1.92
$1.92
0.0%
Diluted shares, weighted
316m
297m
282m
+6.4%
Shares outstanding at period end
311m
305m
285m
+1.9%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
6,462
6,073
4,489
+6.4%
Non-controlling interest
373
361
374
+3.4%
Redeemable equity
363
215
0.0
+68.8%
Debt
16,831
14,405
11,879
+16.8%
Other liabilities
55,014
62,796
64,132
-12.4%
Total liabilities and equity
79,043
83,850
80,874
-5.7%
Goodwill
260
260
260
0.0%
Intangible assets
68.8
63.6
70.1
+8.2%
Securities held for sale or to maturity
790
836
712
-5.5%
Loans
n/a
n/a
11,087
Cash and equivalents
261
217
563
+20.1%
Other assets
77,663
82,474
68,182
-5.8%
Total assets
79,043
83,850
80,874
-5.7%
10-K for the year ended 31 December 2022, filed 1 March 2023: the filing.