Udr (UDR) FY2020 results: revenue $1.2 billion, up 7.7% on the year
Udr, Inc. (UDR) reported revenue of $1.2 billion for fiscal 2020, the year ended 31 December 2020, up 7.7% on the year before. Net income was $64 million, down 65.3%, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2021.
Revenue
$1.2 billion
+7.7% on the year
FY2013FY2020
Operating margin
20.1%
19.2% a year earlier
FY2013FY2020
Net income
$64 million
-65.3% on the year
FY2013FY2020
Diluted EPS
$0.20
-68.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,241
1,152
1,047
+7.7%
Operating income
249
221
355
+12.7%
Operating margin
20.1%
19.2%
33.9%
Interest expense
203
171
134
+18.6%
Pre-tax income
71.5
203
222
-64.8%
Income tax
2.5
3.8
0.7
-33.7%
Effective tax rate
3.6%
1.9%
0.3%
Net income
64.3
185
203
-65.3%
Net margin
5.2%
16.1%
19.4%
Diluted EPS
$0.20
$0.63
$0.74
-68.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
604
631
561
-4.2%
Capital expenditure
163
167
4.8
-2.4%
Free cash flow
441
464
556
-4.8%
Free cash flow margin
35.5%
40.2%
53.1%
Cash from investing
-461
-1,687
-114
Cash from financing
-153
880
-260
Depreciation and amortisation
619
508
436
+21.8%
Share-based compensation
19.6
24.3
14.2
-19.4%
Buybacks
19.8
n/a
20.0
Dividends paid
419
383
342
+9.5%
Dividend per share
$1.44
$1.37
$1.29
+5.1%
Diluted shares, weighted
295m
286m
269m
+3.1%
Shares outstanding at period end
297m
295m
276m
+0.7%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
3,234
3,359
2,906
-3.7%
Non-controlling interest
24.4
30.8
17.2
-20.7%
Redeemable equity
856
1,019
973
-15.9%
Debt
4,977
4,708
3,548
+5.7%
Other liabilities
546
521
268
+4.8%
Total liabilities and equity
9,638
9,636
7,712
+0.0%
Intangible assets
37.4
81.5
n/a
-54.1%
Loans
158
n/a
n/a
Cash and equivalents
1.4
8.1
185
-82.6%
Other assets
9,441
9,547
7,527
-1.1%
Total assets
9,638
9,636
7,712
+0.0%
10-K for the year ended 31 December 2020, filed 18 February 2021: the filing.