Welltower (WELL) FY2014 results: revenue $3.3 billion, up 16.1% on the year
Welltower Inc. (WELL) reported revenue of $3.3 billion for fiscal 2014, the year ended 31 December 2014, up 16.1% on the year before. Net income was $447 million, up 467.6%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$3.3 billion
+16.1% on the year
FY2008FY2014
Operating margin
11.5%
3.5% a year earlier
FY2008FY2014
Net income
$447 million
+467.6% on the year
FY2008FY2014
Diluted EPS
$1.45
+417.9% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
3,344
2,881
1,805
+16.1%
Selling, general and administrative
143
108
97.3
+32.0%
Operating income
384
102
186
+275.8%
Operating margin
11.5%
3.5%
10.3%
Interest expense
481
458
362
+4.9%
Pre-tax income
384
102
186
+275.8%
Income tax
-1.3
7.5
7.6
Effective tax rate
-0.3%
7.3%
4.1%
Net income
447
78.7
222
+467.6%
Net margin
13.4%
2.7%
12.3%
Diluted EPS
$1.45
$0.28
$0.98
+417.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
1,139
988
818
+15.2%
Capital expenditure
133
136
135
-2.2%
Free cash flow
1,006
853
683
+18.0%
Free cash flow margin
30.1%
29.6%
37.8%
Cash from investing
-2,126
-3,532
-3,593
Cash from financing
1,303
1,668
3,645
-21.9%
Depreciation and amortisation
844
874
534
-3.4%
Share-based compensation
32.1
20.2
18.5
+59.0%
Dividends paid
970
840
653
+15.4%
Dividend per share
$3.18
$3.06
$2.96
+3.9%
Diluted shares, weighted
308m
279m
226m
+10.4%
Shares outstanding at period end
329m
290m
260m
+13.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
13,175
11,415
10,295
+15.4%
Non-controlling interest
298
342
226
-12.8%
Debt
10,759
10,568
8,457
+1.8%
Other liabilities
731
760
572
-3.8%
Total liabilities and equity
24,963
23,084
19,549
+8.1%
Goodwill
68.3
68.3
68.3
0.0%
Intangible assets
359
500
n/a
-28.1%
Cash and equivalents
553
159
1,034
+248.5%
Other assets
23,982
22,357
18,447
+7.3%
Total assets
24,963
23,084
19,549
+8.1%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.