Welltower (WELL) FY2016 results: revenue $4.3 billion, up 10.9% on the year
Welltower Inc. (WELL) reported revenue of $4.3 billion for fiscal 2016, the year ended 31 December 2016, up 10.9% on the year before. Net income was $1.0 billion, up 23.7%, and diluted earnings per share $2.81. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2017.
Revenue
$4.3 billion
+10.9% on the year
FY2009FY2016
Operating margin
16.6%
16.5% a year earlier
FY2009FY2016
Net income
$1.0 billion
+23.7% on the year
FY2009FY2016
Diluted EPS
$2.81
+20.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
4,281
3,860
3,344
+10.9%
Selling, general and administrative
155
147
143
+5.3%
Operating income
709
636
384
+11.5%
Operating margin
16.6%
16.5%
11.5%
Interest expense
521
492
481
+5.9%
Pre-tax income
709
636
384
+11.5%
Income tax
-19.1
6.5
-1.3
Effective tax rate
-2.7%
1.0%
-0.3%
Net income
1,012
818
447
+23.7%
Net margin
23.6%
21.2%
13.4%
Diluted EPS
$2.81
$2.34
$1.45
+20.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,639
1,383
1,139
+18.5%
Capital expenditure
219
188
133
+16.7%
Free cash flow
1,420
1,195
1,006
+18.8%
Free cash flow margin
33.2%
31.0%
30.1%
Cash from investing
-183
-3,502
-2,126
Cash from financing
-1,251
1,997
1,303
Depreciation and amortisation
901
826
844
+9.1%
Share-based compensation
28.9
30.8
32.1
-6.4%
Dividends paid
1,234
1,145
970
+7.8%
Dividend per share
$3.44
$3.30
$3.18
+4.2%
Diluted shares, weighted
360m
349m
308m
+3.1%
Shares outstanding at period end
363m
355m
329m
+2.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
14,806
14,591
13,175
+1.5%
Non-controlling interest
475
585
298
-18.8%
Redeemable equity
398
183
n/a
+117.6%
Debt
12,284
12,892
10,759
-4.7%
Other liabilities
901
773
731
+16.6%
Total liabilities and equity
28,865
29,024
24,963
-0.5%
Goodwill
68.3
68.3
68.3
0.0%
Intangible assets
436
469
359
-7.1%
Cash and equivalents
419
423
553
-0.8%
Other assets
27,941
28,063
23,982
-0.4%
Total assets
28,865
29,024
24,963
-0.5%
10-K for the year ended 31 December 2016, filed 22 February 2017: the filing.