Vivmark Residential (VMRK) FY2022 results: revenue $2.7 billion, up 11.0% on the year

Vivmark Residential (VMRK) reported revenue of $2.7 billion for fiscal 2022, the year ended 31 December 2022, up 11.0% on the year before. Net income was $777 million, down 41.7%, and diluted earnings per share $2.05. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2023.

Revenue

$2.7 billion

+11.0% on the year

FY2015FY2022

Operating margin

40.8%

68.0% a year earlier

FY2015FY2022

Net income

$777 million

-41.7% on the year

FY2015FY2022

Diluted EPS

$2.05

-42.1% on the year

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	2,735	2,464	2,572	+11.0%
Operating income	1,116	1,676	1,318	-33.4%
Operating margin	40.8%	68.0%	51.2%
Interest expense	283	272	365	+3.8%
Pre-tax income	813	1,401	932	-42.0%
Income tax	0.9	0.9	0.9	-1.6%
Effective tax rate	0.1%	0.1%	0.1%
Net income	777	1,333	914	-41.7%
Net margin	28.4%	54.1%	35.5%
Diluted EPS	$2.05	$3.54	$2.45	-42.1%

$ million except per share.

Free 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	1,455	1,260	1,266	+15.4%
Capital expenditure	109	206	230	-47.0%
Free cash flow	1,345	1,054	1,035	+27.7%
Free cash flow margin	49.2%	42.8%	40.3%
Cash from investing	108	-435	664
Cash from financing	-1,786	-565	-1,946
Share-based compensation	29.5	27.8	23.2	+6.1%
Dividends paid	932	900	884	+3.5%
Dividend per share	$2.50	n/a	n/a
Diluted shares, weighted	389m	388m	386m	+0.4%
Shares outstanding at period end	378m	376m	372m	+0.8%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	11,173	10,955	10,526	+2.0%
Non-controlling interest	209	232	238	-9.9%
Redeemable equity	318	499	339	-36.2%
Debt	7,494	8,421	8,127	-11.0%
Other liabilities	1,023	1,062	1,058	-3.7%
Total liabilities and equity	20,218	21,169	20,287	-4.5%
Cash and equivalents	53.9	124	42.6	-56.5%
Other assets	20,164	21,045	20,244	-4.2%
Total assets	20,218	21,169	20,287	-4.5%

10-K for the year ended 31 December 2022, filed 16 February 2023: the filing.