Ventas (VTR) FY2020 results: revenue $3.8 billion, down 2.0% on the year
Ventas, Inc. (VTR) reported revenue of $3.8 billion for fiscal 2020, the year ended 31 December 2020, down 2.0% on the year before. Net income was $439 million, up 1.4%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$3.8 billion
-2.0% on the year
FY2013FY2020
Operating margin
2.1%
9.3% a year earlier
FY2013FY2020
Net income
$439 million
+1.4% on the year
FY2013FY2020
Diluted EPS
$1.17
0.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
3,795
3,873
3,746
-2.0%
Operating income
80.6
359
385
-77.6%
Operating margin
2.1%
9.3%
10.3%
Interest expense
470
452
442
+4.0%
Pre-tax income
80.6
359
385
-77.6%
Income tax
-96.5
-56.3
-40.0
Effective tax rate
-119.8%
-15.7%
-10.4%
Net income
439
433
409
+1.4%
Net margin
11.6%
11.2%
10.9%
Diluted EPS
$1.17
$1.17
$1.14
0.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,450
1,438
1,381
+0.9%
Capital expenditure
607
157
132
+287.5%
Free cash flow
843
1,281
1,250
-34.2%
Free cash flow margin
22.2%
33.1%
33.4%
Cash from investing
154
-1,585
324
Cash from financing
-1,300
161
-1,762
Depreciation and amortisation
1,110
1,046
920
+6.1%
Share-based compensation
21.5
33.9
30.0
-36.7%
Dividends paid
929
1,158
1,127
-19.8%
Dividend per share
$2.14
$3.17
$3.16
-32.4%
Diluted shares, weighted
377m
370m
359m
+1.8%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
10,180
10,446
10,216
-2.5%
Non-controlling interest
98.0
99.6
55.7
-1.5%
Redeemable equity
235
274
188
-14.0%
Debt
11,895
12,159
10,734
-2.2%
Other liabilities
1,520
1,714
1,391
-11.3%
Total liabilities and equity
23,929
24,692
22,585
-3.1%
Goodwill
1,052
1,051
1,051
+0.0%
Securities held for sale or to maturity
238
237
206
+0.1%
Cash and equivalents
413
106
72.3
+288.6%
Other assets
22,227
23,297
21,255
-4.6%
Total assets
23,929
24,692
22,585
-3.1%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.