Welltower (WELL) FY2012 results: revenue $1.8 billion, up 37.5% on the year
Welltower Inc. (WELL) reported revenue of $1.8 billion for fiscal 2012, the year ended 31 December 2012, up 37.5% on the year before. Net income was $222 million, up 2.0%, and diluted earnings per share $0.98. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$1.8 billion
+37.5% on the year
FY2008FY2012
Operating margin
10.3%
8.5% a year earlier
FY2008FY2012
Net income
$222 million
+2.0% on the year
FY2008FY2012
Diluted EPS
$0.98
+8.9% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
1,805
1,313
569
+37.5%
Selling, general and administrative
97.3
77.2
54.6
+26.1%
Operating income
186
112
34.1
+65.7%
Operating margin
10.3%
8.5%
6.0%
Interest expense
362
291
131
+24.3%
Pre-tax income
186
112
34.1
+65.5%
Income tax
7.6
-1.4
0.4
Effective tax rate
4.1%
-1.2%
1.1%
Net income
222
218
129
+2.0%
Net margin
12.3%
16.6%
22.6%
Diluted EPS
$0.98
$0.90
$0.83
+8.9%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
818
588
365
+39.1%
Capital expenditure
135
77.8
59.9
+74.1%
Free cash flow
683
510
305
+33.7%
Free cash flow margin
37.8%
38.9%
53.5%
Cash from investing
-3,593
-4,520
-2,312
Cash from financing
3,645
3,964
2,043
-8.0%
Depreciation and amortisation
534
424
203
+26.0%
Share-based compensation
18.5
10.8
11.8
+71.7%
Dividends paid
653
484
349
+35.1%
Dividend per share
$2.96
$2.83
$2.74
+4.4%
Diluted shares, weighted
226m
174m
128m
+29.6%
Shares outstanding at period end
260m
192m
147m
+35.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
10,295
7,125
4,603
+44.5%
Non-controlling interest
226
154
130
+46.7%
Debt
8,457
7,157
4,199
+18.2%
Other liabilities
572
489
520
+16.8%
Total liabilities and equity
19,549
14,925
9,452
+31.0%
Goodwill
68.3
68.3
51.2
0.0%
Cash and equivalents
1,034
163
132
+532.3%
Other assets
18,447
14,693
9,269
+25.6%
Total assets
19,549
14,925
9,452
+31.0%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.