Udr (UDR) FY2018 results: revenue $1.0 billion, up 5.1% on the year
Udr, Inc. (UDR) reported revenue of $1.0 billion for fiscal 2018, the year ended 31 December 2018, up 5.1% on the year before. Net income was $203 million, up 67.1%, and diluted earnings per share $0.74. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2019.
Revenue
$1.0 billion
+5.1% on the year
FY2011FY2018
Operating margin
33.9%
22.9% a year earlier
FY2011FY2018
Net income
$203 million
+67.1% on the year
FY2011FY2018
Diluted EPS
$0.74
+68.2% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,047
996
960
+5.1%
Operating income
355
228
401
+55.6%
Operating margin
33.9%
22.9%
41.8%
Interest expense
134
129
123
+4.2%
Pre-tax income
222
132
332
+67.8%
Income tax
0.7
-0.2
11.6
Effective tax rate
0.3%
-0.2%
3.5%
Net income
203
122
293
+67.1%
Net margin
19.4%
12.2%
30.5%
Diluted EPS
$0.74
$0.44
$1.08
+68.2%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
561
519
537
+8.0%
Capital expenditure
4.8
1.4
4.4
+250.4%
Free cash flow
556
518
532
+7.4%
Free cash flow margin
53.1%
52.0%
55.5%
Cash from investing
-114
-407
-113
Cash from financing
-260
-112
-429
Depreciation and amortisation
436
436
426
-0.2%
Share-based compensation
14.2
12.9
13.4
+10.7%
Buybacks
20.0
n/a
n/a
Dividends paid
342
328
309
+4.4%
Dividend per share
$1.29
$1.24
$1.18
+4.0%
Diluted shares, weighted
269m
269m
267m
+0.2%
Shares outstanding at period end
276m
268m
267m
+2.9%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,906
2,826
3,093
+2.8%
Non-controlling interest
17.2
9.6
3.9
+79.3%
Redeemable equity
973
948
909
+2.6%
Debt
3,548
3,672
3,401
-3.4%
Other liabilities
268
278
272
-3.5%
Total liabilities and equity
7,712
7,733
7,680
-0.3%
Cash and equivalents
185
2.0
2.1
+8,988.1%
Other assets
7,527
7,731
7,677
-2.6%
Total assets
7,712
7,733
7,680
-0.3%
10-K for the year ended 31 December 2018, filed 19 February 2019: the filing.