Welltower (WELL) FY2013 results: revenue $2.9 billion, up 59.6% on the year
Welltower Inc. (WELL) reported revenue of $2.9 billion for fiscal 2013, the year ended 31 December 2013, up 59.6% on the year before. Net income was $79 million, down 64.5%, and diluted earnings per share $0.28. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$2.9 billion
+59.6% on the year
FY2008FY2013
Operating margin
3.5%
10.3% a year earlier
FY2008FY2013
Net income
$79 million
-64.5% on the year
FY2008FY2013
Diluted EPS
$0.28
-71.4% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,881
1,805
1,313
+59.6%
Selling, general and administrative
108
97.3
77.2
+11.3%
Operating income
102
186
112
-45.0%
Operating margin
3.5%
10.3%
8.5%
Interest expense
458
362
291
+26.8%
Pre-tax income
102
186
112
-44.9%
Income tax
7.5
7.6
-1.4
-1.6%
Effective tax rate
7.3%
4.1%
-1.2%
Net income
78.7
222
218
-64.5%
Net margin
2.7%
12.3%
16.6%
Diluted EPS
$0.28
$0.98
$0.90
-71.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
988
818
588
+20.8%
Capital expenditure
136
135
77.8
+0.3%
Free cash flow
853
683
510
+24.9%
Free cash flow margin
29.6%
37.8%
38.9%
Cash from investing
-3,532
-3,593
-4,520
Cash from financing
1,668
3,645
3,964
-54.2%
Depreciation and amortisation
874
534
424
+63.8%
Share-based compensation
20.2
18.5
10.8
+8.9%
Dividends paid
840
653
484
+28.6%
Dividend per share
$3.06
$2.96
$2.83
+3.4%
Diluted shares, weighted
279m
226m
174m
+23.4%
Shares outstanding at period end
290m
260m
192m
+11.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
11,415
10,295
7,125
+10.9%
Non-controlling interest
342
226
154
+51.4%
Debt
10,568
8,457
7,157
+25.0%
Other liabilities
760
572
489
+33.0%
Total liabilities and equity
23,084
19,549
14,925
+18.1%
Goodwill
68.3
68.3
68.3
0.0%
Intangible assets
500
n/a
n/a
Cash and equivalents
159
1,034
163
-84.6%
Other assets
22,357
18,447
14,693
+21.2%
Total assets
23,084
19,549
14,925
+18.1%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.