Ventas (VTR) FY2016 results: revenue $3.4 billion, up 4.8% on the year
Ventas, Inc. (VTR) reported revenue of $3.4 billion for fiscal 2016, the year ended 31 December 2016, up 4.8% on the year before. Net income was $649 million, up 55.4%, and diluted earnings per share $1.86. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2017.
Revenue
$3.4 billion
+4.8% on the year
FY2009FY2016
Operating margin
15.1%
10.7% a year earlier
FY2009FY2016
Net income
$649 million
+55.4% on the year
FY2009FY2016
Diluted EPS
$1.86
+48.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
3,444
3,286
2,777
+4.8%
Operating income
519
352
351
+47.4%
Operating margin
15.1%
10.7%
12.6%
Interest expense
420
367
292
+14.3%
Pre-tax income
519
352
351
+47.4%
Income tax
-31.3
-39.3
-8.7
Effective tax rate
-6.0%
-11.2%
-2.5%
Net income
649
418
476
+55.4%
Net margin
18.9%
12.7%
17.1%
Diluted EPS
$1.86
$1.25
$1.60
+48.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,355
1,399
1,255
-3.2%
Capital expenditure
117
107
87.5
+9.3%
Free cash flow
1,237
1,291
1,167
-4.2%
Free cash flow margin
35.9%
39.3%
42.0%
Cash from investing
-1,214
-2,424
-2,055
Cash from financing
96.8
1,023
758
-90.5%
Depreciation and amortisation
899
894
725
+0.5%
Share-based compensation
21.0
19.5
21.0
+7.3%
Dividends paid
1,025
1,003
876
+2.1%
Dividend per share
$2.96
$3.04
$2.96
-2.5%
Diluted shares, weighted
348m
334m
297m
+4.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
10,460
9,564
8,680
+9.4%
Non-controlling interest
68.5
61.1
74.2
+12.1%
Redeemable equity
201
197
172
+2.1%
Debt
11,127
11,207
10,844
-0.7%
Other liabilities
1,310
1,233
1,395
+6.2%
Total liabilities and equity
23,167
22,262
21,166
+4.1%
Goodwill
1,033
1,047
364
-1.4%
Cash and equivalents
287
53.0
55.3
+440.7%
Other assets
21,847
21,161
20,747
+3.2%
Total assets
23,167
22,262
21,166
+4.1%
10-K for the year ended 31 December 2016, filed 14 February 2017: the filing.