Welltower (WELL) FY2015 results: revenue $3.9 billion, up 15.4% on the year
Welltower Inc. (WELL) reported revenue of $3.9 billion for fiscal 2015, the year ended 31 December 2015, up 15.4% on the year before. Net income was $818 million, up 83.2%, and diluted earnings per share $2.34. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2016.
Revenue
$3.9 billion
+15.4% on the year
FY2008FY2015
Operating margin
16.5%
11.5% a year earlier
FY2008FY2015
Net income
$818 million
+83.2% on the year
FY2008FY2015
Diluted EPS
$2.34
+61.4% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
3,860
3,344
2,881
+15.4%
Selling, general and administrative
147
143
108
+3.1%
Operating income
636
384
102
+65.6%
Operating margin
16.5%
11.5%
3.5%
Interest expense
492
481
458
+2.3%
Pre-tax income
636
384
102
+65.6%
Income tax
6.5
-1.3
7.5
Effective tax rate
1.0%
-0.3%
7.3%
Net income
818
447
78.7
+83.2%
Net margin
21.2%
13.4%
2.7%
Diluted EPS
$2.34
$1.45
$0.28
+61.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,383
1,139
988
+21.4%
Capital expenditure
188
133
136
+41.4%
Free cash flow
1,195
1,006
853
+18.8%
Free cash flow margin
31.0%
30.1%
29.6%
Cash from investing
-3,502
-2,126
-3,532
Cash from financing
1,997
1,303
1,668
+53.3%
Depreciation and amortisation
826
844
874
-2.1%
Share-based compensation
30.8
32.1
20.2
-3.8%
Dividends paid
1,145
970
840
+18.1%
Dividend per share
$3.30
$3.18
$3.06
+3.8%
Diluted shares, weighted
349m
308m
279m
+13.5%
Shares outstanding at period end
355m
329m
290m
+7.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
14,591
13,175
11,415
+10.7%
Non-controlling interest
585
298
342
+96.5%
Redeemable equity
183
n/a
n/a
Debt
12,892
10,759
10,568
+19.8%
Other liabilities
773
731
760
+5.7%
Total liabilities and equity
29,024
24,963
23,084
+16.3%
Goodwill
68.3
68.3
68.3
0.0%
Intangible assets
469
359
500
+30.6%
Cash and equivalents
423
553
159
-23.6%
Other assets
28,063
23,982
22,357
+17.0%
Total assets
29,024
24,963
23,084
+16.3%
10-K for the year ended 31 December 2015, filed 18 February 2016: the filing.