Ventas (VTR) FY2017 results: revenue $3.6 billion, up 3.8% on the year
Ventas, Inc. (VTR) reported revenue of $3.6 billion for fiscal 2017, the year ended 31 December 2017, up 3.8% on the year before. Net income was $1.4 billion, up 108.9%, and diluted earnings per share $3.78. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2018.
Revenue
$3.6 billion
+3.8% on the year
FY2010FY2017
Operating margin
16.4%
15.1% a year earlier
FY2010FY2017
Net income
$1.4 billion
+108.9% on the year
FY2010FY2017
Diluted EPS
$3.78
+103.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
3,574
3,444
3,286
+3.8%
Operating income
585
519
352
+12.8%
Operating margin
16.4%
15.1%
10.7%
Interest expense
448
420
367
+6.8%
Pre-tax income
585
519
352
+12.8%
Income tax
-59.8
-31.3
-39.3
Effective tax rate
-10.2%
-6.0%
-11.2%
Net income
1,356
649
418
+108.9%
Net margin
38.0%
18.9%
12.7%
Diluted EPS
$3.78
$1.86
$1.25
+103.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,429
1,355
1,399
+5.5%
Capital expenditure
133
117
107
+12.9%
Free cash flow
1,296
1,237
1,291
+4.8%
Free cash flow margin
36.3%
35.9%
39.3%
Cash from investing
-937
-1,214
-2,424
Cash from financing
-671
96.8
1,023
Depreciation and amortisation
888
899
894
-1.2%
Share-based compensation
26.5
21.0
19.5
+26.6%
Dividends paid
827
1,025
1,003
-19.3%
Dividend per share
$3.12
$2.96
$3.04
+5.1%
Diluted shares, weighted
359m
348m
334m
+2.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
10,866
10,460
9,564
+3.9%
Non-controlling interest
66.0
68.5
61.1
-3.7%
Redeemable equity
158
201
197
-21.0%
Debt
11,276
11,127
11,207
+1.3%
Other liabilities
1,588
1,310
1,233
+21.2%
Total liabilities and equity
23,955
23,167
22,262
+3.4%
Goodwill
1,035
1,033
1,047
+0.1%
Securities held for sale or to maturity
0.0
n/a
n/a
Loans
59.9
n/a
n/a
Cash and equivalents
81.4
287
53.0
-71.6%
Other assets
22,779
21,847
21,161
+4.3%
Total assets
23,955
23,167
22,262
+3.4%
10-K for the year ended 31 December 2017, filed 9 February 2018: the filing.