Udr (UDR) FY2019 results: revenue $1.2 billion, up 10.1% on the year
Udr, Inc. (UDR) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, up 10.1% on the year before. Net income was $185 million, down 8.9%, and diluted earnings per share $0.63. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2020.
Revenue
$1.2 billion
+10.1% on the year
FY2012FY2019
Operating margin
19.2%
33.9% a year earlier
FY2012FY2019
Net income
$185 million
-8.9% on the year
FY2012FY2019
Diluted EPS
$0.63
-14.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,152
1,047
996
+10.1%
Operating income
221
355
228
-37.7%
Operating margin
19.2%
33.9%
22.9%
Interest expense
171
134
129
+27.4%
Pre-tax income
203
222
132
-8.5%
Income tax
3.8
0.7
-0.2
+457.8%
Effective tax rate
1.9%
0.3%
-0.2%
Net income
185
203
122
-8.9%
Net margin
16.1%
19.4%
12.2%
Diluted EPS
$0.63
$0.74
$0.44
-14.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
631
561
519
+12.5%
Capital expenditure
167
4.8
1.4
+3,347.2%
Free cash flow
464
556
518
-16.6%
Free cash flow margin
40.2%
53.1%
52.0%
Cash from investing
-1,687
-114
-407
Cash from financing
880
-260
-112
Depreciation and amortisation
508
436
436
+16.6%
Share-based compensation
24.3
14.2
12.9
+70.8%
Buybacks
n/a
20.0
n/a
Dividends paid
383
342
328
+11.9%
Dividend per share
$1.37
$1.29
$1.24
+6.2%
Diluted shares, weighted
286m
269m
269m
+6.1%
Shares outstanding at period end
295m
276m
268m
+6.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
3,359
2,906
2,826
+15.6%
Non-controlling interest
30.8
17.2
9.6
+79.4%
Redeemable equity
1,019
973
948
+4.7%
Debt
4,708
3,548
3,672
+32.7%
Other liabilities
521
268
278
+94.1%
Total liabilities and equity
9,636
7,712
7,733
+25.0%
Intangible assets
81.5
n/a
n/a
Cash and equivalents
8.1
185
2.0
-95.6%
Other assets
9,547
7,527
7,731
+26.8%
Total assets
9,636
7,712
7,733
+25.0%
10-K for the year ended 31 December 2019, filed 18 February 2020: the filing.