Ventas (VTR) FY2011 results: revenue $1.7 billion, up 73.1% on the year
Ventas, Inc. (VTR) reported revenue of $1.7 billion for fiscal 2011, the year ended 31 December 2011, up 73.1% on the year before. Net income was $364 million, up 48.1%, and diluted earnings per share $1.58. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2012.
Revenue
$1.7 billion
+73.1% on the year
FY2007FY2011
Operating margin
19.1%
22.3% a year earlier
FY2007FY2011
Net income
$364 million
+48.1% on the year
FY2007FY2011
Diluted EPS
$1.58
+1.3% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
1,732
1,001
923
+73.1%
Operating income
330
223
192
+48.3%
Operating margin
19.1%
22.3%
20.7%
Interest expense
224
172
174
+29.8%
Pre-tax income
330
223
192
+48.3%
Income tax
-30.7
5.2
-1.7
Effective tax rate
-9.3%
2.3%
-0.9%
Net income
364
246
266
+48.1%
Net margin
21.0%
24.6%
28.9%
Diluted EPS
$1.58
$1.56
$1.74
+1.3%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
773
448
422
+72.7%
Capital expenditure
50.5
18.2
11.1
+177.4%
Free cash flow
723
429
411
+68.3%
Free cash flow margin
41.7%
42.9%
44.5%
Cash from investing
-997
-302
-1.7
Cash from financing
248
-231
-490
Depreciation and amortisation
444
201
197
+121.3%
Share-based compensation
19.3
14.1
11.9
+37.4%
Dividends paid
521
336
314
+55.0%
Dividend per share
$2.30
$2.14
$2.05
+7.5%
Diluted shares, weighted
231m
158m
153m
+46.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
9,275
2,387
2,466
+288.6%
Non-controlling interest
81.0
3.5
18.5
+2,227.9%
Redeemable equity
103
n/a
n/a
Debt
6,429
2,900
2,670
+121.7%
Other liabilities
1,384
468
462
+195.9%
Total liabilities and equity
17,272
5,758
5,616
+200.0%
Goodwill
448
19.9
n/a
+2,153.1%
Intangible assets
n/a
79.6
16.7
Securities held for sale or to maturity
43.3
66.7
65.0
-35.0%
Cash and equivalents
45.8
21.8
107
+110.0%
Other assets
16,734
5,570
5,427
+200.4%
Total assets
17,272
5,758
5,616
+200.0%
10-K for the year ended 31 December 2011, filed 22 February 2012: the filing.