Udr (UDR) FY2023 results: revenue $1.6 billion, up 7.3% on the year
Udr, Inc. (UDR) reported revenue of $1.6 billion for fiscal 2023, the year ended 31 December 2023, up 7.3% on the year before. Net income was $444 million, up 411.2%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$1.6 billion
+7.3% on the year
FY2016FY2023
Operating margin
39.0%
16.5% a year earlier
FY2016FY2023
Net income
$444 million
+411.2% on the year
FY2016FY2023
Diluted EPS
$1.34
+415.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
833
820
664
+1.5%
Capital expenditure
295
215
156
+37.5%
Free cash flow
537
605
508
-11.2%
Free cash flow margin
33.0%
39.9%
39.3%
Cash from investing
-289
-930
-1,272
Cash from financing
-539
111
613
Depreciation and amortisation
692
680
620
+1.8%
Share-based compensation
32.9
27.5
22.1
+19.6%
Buybacks
25.0
49.0
n/a
-49.0%
Dividends paid
540
484
434
+11.6%
Dividend per share
$1.68
$1.52
$1.45
+10.5%
Diluted shares, weighted
329m
323m
302m
+2.0%
Shares outstanding at period end
329m
329m
318m
+0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,991
4,098
3,443
-2.6%
Non-controlling interest
0.2
0.2
31.4
0.0%
Redeemable equity
961
840
1,299
+14.4%
Debt
5,799
5,487
5,413
+5.7%
Other liabilities
622
613
589
+1.5%
Total liabilities and equity
11,373
11,038
10,775
+3.0%
Intangible assets
45.9
40.3
62.7
+13.8%
Loans
n/a
54.7
26.9
Cash and equivalents
2.9
1.2
1.0
+144.9%
Other assets
11,324
10,942
10,685
+3.5%
Total assets
11,373
11,038
10,775
+3.0%
10-K for the year ended 31 December 2023, filed 20 February 2024: the filing.