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Vivmark Residential (VMRK) FY2021 results: revenue $2.5 billion, down 4.2% on the year

Vivmark Residential (VMRK) reported revenue of $2.5 billion for fiscal 2021, the year ended 31 December 2021, down 4.2% on the year before. Net income was $1.3 billion, up 45.9%, and diluted earnings per share $3.54. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2022.

Revenue
$2.5 billion
-4.2% on the year
FY2014FY2021
Operating margin
68.0%
51.2% a year earlier
FY2014FY2021
Net income
$1.3 billion
+45.9% on the year
FY2014FY2021
Diluted EPS
$3.54
+44.5% on the year
FY2014FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q3 FY2021 · Q4 FY2021

Income statement (profit and loss)

$ millionFY2021FY2020FY2019On the yearLast 8 years
Revenue2,4642,5722,701-4.2%
Operating income1,6761,3181,357+27.2%
Operating margin68.0%51.2%50.2%
Interest expense272365390-25.4%
Pre-tax income1,401932939+50.3%
Income tax0.90.9-2.3+7.4%
Effective tax rate0.1%0.1%-0.2%
Net income1,333914970+45.9%
Net margin54.1%35.5%35.9%
Diluted EPS$3.54$2.45$2.60+44.5%
$ 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

$ millionFY2021FY2020FY2019On the yearLast 8 years
Operating cash flow1,2601,2661,457-0.4%
Capital expenditure206230196-10.4%
Free cash flow1,0541,0351,261+1.8%
Free cash flow margin42.8%40.3%46.7%
Cash from investing-435664-772
Cash from financing-565-1,946-684
Share-based compensation27.823.224.4+20.0%
Dividends paid900884831+1.9%
Diluted shares, weighted388m386m386m+0.6%
Shares outstanding at period end376m372m372m+0.9%

Balance sheet

$ millionFY2021FY2020FY2019On the yearLast 8 years
Shareholders' equity10,95510,52610,316+4.1%
Non-controlling interest232238229-2.3%
Redeemable equity499339463+47.2%
Debt8,4218,1279,131+3.6%
Other liabilities1,0621,0581,034+0.4%
Total liabilities and equity21,16920,28721,173+4.3%
Cash and equivalents12442.645.8+190.7%
Other assets21,04520,24421,127+4.0%
Total assets21,16920,28721,173+4.3%

10-K for the year ended 31 December 2021, filed 17 February 2022: the filing.