Starwood Property Trust (STWD) FY2023 results: revenue $2.0 billion, up 40.0% on the year
Starwood Property Trust, Inc. (STWD) reported revenue of $2.0 billion for fiscal 2023, the year ended 31 December 2023, up 40.0% on the year before. Net income was $339 million, down 61.1%, and diluted earnings per share $1.07. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$2.0 billion
+40.0% on the year
FY2016FY2023
Operating margin
-2.4%
13.1% a year earlier
FY2016FY2023
Net income
$339 million
-61.1% on the year
FY2016FY2023
Diluted EPS
$1.07
-60.9% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
529
214
-990
+147.3%
Capital expenditure
0.0
n/a
n/a
Free cash flow
529
n/a
n/a
Free cash flow margin
25.8%
n/a
n/a
Cash from investing
855
-2,950
-4,282
Cash from financing
-1,455
2,798
4,873
Depreciation and amortisation
49.1
49.3
83.0
-0.3%
Share-based compensation
52.9
65.1
74.4
-18.7%
Buybacks
n/a
0.0
0.0
Dividends paid
601
591
554
+1.6%
Dividend per share
$1.92
$1.92
$1.92
0.0%
Diluted shares, weighted
311m
316m
297m
-1.7%
Shares outstanding at period end
313m
311m
305m
+0.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
6,251
6,462
6,073
-3.3%
Non-controlling interest
358
373
361
-4.3%
Redeemable equity
414
363
215
+14.2%
Debt
16,221
16,831
14,405
-3.6%
Other liabilities
46,261
55,014
62,796
-15.9%
Total liabilities and equity
69,504
79,043
83,850
-12.1%
Goodwill
260
260
260
0.0%
Intangible assets
65.0
68.8
63.6
-5.5%
Securities held for sale or to maturity
722
790
836
-8.6%
Cash and equivalents
195
261
217
-25.4%
Other assets
68,263
77,663
82,474
-12.1%
Total assets
69,504
79,043
83,850
-12.1%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.