Ventas (VTR) FY2015 results: revenue $3.3 billion, up 18.4% on the year
Ventas, Inc. (VTR) reported revenue of $3.3 billion for fiscal 2015, the year ended 31 December 2015, up 18.4% on the year before. Net income was $418 million, down 12.2%, and diluted earnings per share $1.25. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$3.3 billion
+18.4% on the year
FY2008FY2015
Operating margin
10.7%
12.6% a year earlier
FY2008FY2015
Net income
$418 million
-12.2% on the year
FY2008FY2015
Diluted EPS
$1.25
-21.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,286
2,777
2,517
+18.4%
Operating income
352
351
364
+0.3%
Operating margin
10.7%
12.6%
14.5%
Interest expense
367
292
249
+25.7%
Pre-tax income
352
351
364
+0.3%
Income tax
-39.3
-8.7
-11.8
Effective tax rate
-11.2%
-2.5%
-3.2%
Net income
418
476
454
-12.2%
Net margin
12.7%
17.1%
18.0%
Diluted EPS
$1.25
$1.60
$1.54
-21.9%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,399
1,255
1,195
+11.5%
Capital expenditure
107
87.5
81.6
+22.9%
Free cash flow
1,291
1,167
1,113
+10.6%
Free cash flow margin
39.3%
42.0%
44.2%
Cash from investing
-2,424
-2,055
-1,283
Cash from financing
1,023
758
115
+35.0%
Depreciation and amortisation
894
725
630
+23.3%
Share-based compensation
19.5
21.0
20.7
-6.9%
Dividends paid
1,003
876
802
+14.6%
Dividend per share
$3.04
$2.96
$2.73
+2.5%
Diluted shares, weighted
334m
297m
295m
+12.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
9,564
8,680
8,824
+10.2%
Non-controlling interest
61.1
74.2
79.5
-17.7%
Redeemable equity
197
172
157
+14.3%
Debt
11,207
10,844
9,365
+3.3%
Other liabilities
1,233
1,395
1,306
-11.6%
Total liabilities and equity
22,262
21,166
19,731
+5.2%
Goodwill
1,047
364
n/a
+187.8%
Cash and equivalents
53.0
55.3
94.8
-4.2%
Other assets
21,161
20,747
19,637
+2.0%
Total assets
22,262
21,166
19,731
+5.2%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.