Udr (UDR) FY2017 results: revenue $996 million, up 3.7% on the year
Udr, Inc. (UDR) reported revenue of $996 million for fiscal 2017, the year ended 31 December 2017, up 3.7% on the year before. Net income was $122 million, down 58.5%, and diluted earnings per share $0.44. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2018.
Revenue
$996 million
+3.7% on the year
FY2010FY2017
Operating margin
22.9%
41.8% a year earlier
FY2010FY2017
Net income
$122 million
-58.5% on the year
FY2010FY2017
Diluted EPS
$0.44
-59.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
996
960
872
+3.7%
Operating income
228
401
160
-43.1%
Operating margin
22.9%
41.8%
18.3%
Interest expense
129
123
122
+4.6%
Pre-tax income
132
332
102
-60.1%
Income tax
-0.2
11.6
-3.9
Effective tax rate
-0.2%
3.5%
-3.8%
Net income
122
293
340
-58.5%
Net margin
12.2%
30.5%
39.0%
Diluted EPS
$0.44
$1.08
$1.29
-59.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
519
537
459
-3.3%
Capital expenditure
1.4
4.4
4.0
-68.8%
Free cash flow
518
532
455
-2.8%
Free cash flow margin
52.0%
55.5%
52.1%
Cash from investing
-407
-113
-265
Cash from financing
-112
-429
-202
Depreciation and amortisation
436
426
381
+2.5%
Share-based compensation
12.9
13.4
18.0
-4.0%
Dividends paid
328
309
283
+6.1%
Dividend per share
$1.24
$1.18
$1.11
+5.1%
Diluted shares, weighted
269m
267m
264m
+0.6%
Shares outstanding at period end
268m
267m
262m
+0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,826
3,093
2,900
-8.6%
Non-controlling interest
9.6
3.9
0.9
+147.8%
Redeemable equity
948
909
946
+4.3%
Debt
3,672
3,401
3,571
+7.9%
Other liabilities
278
272
246
+2.4%
Total liabilities and equity
7,733
7,680
7,664
+0.7%
Cash and equivalents
2.0
2.1
6.7
-3.5%
Other assets
7,731
7,677
7,657
+0.7%
Total assets
7,733
7,680
7,664
+0.7%
10-K for the year ended 31 December 2017, filed 20 February 2018: the filing.