Udr (UDR) FY2016 results: revenue $960 million, up 10.1% on the year
Udr, Inc. (UDR) reported revenue of $960 million for fiscal 2016, the year ended 31 December 2016, up 10.1% on the year before. Net income was $293 million, down 14.0%, and diluted earnings per share $1.08. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2017.
Revenue
$960 million
+10.1% on the year
FY2009FY2016
Operating margin
41.8%
18.3% a year earlier
FY2009FY2016
Net income
$293 million
-14.0% on the year
FY2009FY2016
Diluted EPS
$1.08
-16.3% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
960
872
818
+10.1%
Operating income
401
160
127
+151.2%
Operating margin
41.8%
18.3%
15.5%
Interest expense
123
122
130
+0.9%
Pre-tax income
332
102
1.2
+226.7%
Income tax
11.6
-3.9
-15.1
Effective tax rate
3.5%
-3.8%
-1302.6%
Net income
293
340
154
-14.0%
Net margin
30.5%
39.0%
18.9%
Diluted EPS
$1.08
$1.29
$0.59
-16.3%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
537
459
397
+17.1%
Capital expenditure
4.4
4.0
5.5
+9.6%
Free cash flow
532
455
392
+17.1%
Free cash flow margin
55.5%
52.1%
47.9%
Cash from investing
-113
-265
-299
Cash from financing
-429
-202
-114
Depreciation and amortisation
426
381
364
+11.6%
Share-based compensation
13.4
18.0
14.0
-25.6%
Dividends paid
309
283
256
+9.1%
Dividend per share
$1.18
$1.11
$1.04
+6.3%
Diluted shares, weighted
267m
264m
253m
+1.3%
Shares outstanding at period end
267m
262m
255m
+2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
3,093
2,900
2,735
+6.7%
Non-controlling interest
3.9
0.9
0.9
+350.9%
Redeemable equity
909
946
282
-3.9%
Debt
3,401
3,571
3,565
-4.7%
Other liabilities
272
246
245
+10.4%
Total liabilities and equity
7,680
7,664
6,829
+0.2%
Cash and equivalents
2.1
6.7
15.2
-68.7%
Other assets
7,677
7,657
6,814
+0.3%
Total assets
7,680
7,664
6,829
+0.2%
10-K for the year ended 31 December 2016, filed 21 February 2017: the filing.