Welltower (WELL) FY2017 results: revenue $4.3 billion, up 0.8% on the year
Welltower Inc. (WELL) reported revenue of $4.3 billion for fiscal 2017, the year ended 31 December 2017, up 0.8% on the year before. Net income was $464 million, down 54.2%, and diluted earnings per share $1.26. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2018.
Revenue
$4.3 billion
+0.8% on the year
FY2010FY2017
Operating margin
6.9%
16.6% a year earlier
FY2010FY2017
Net income
$464 million
-54.2% on the year
FY2010FY2017
Diluted EPS
$1.26
-55.2% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
4,317
4,281
3,860
+0.8%
Cost of revenue
2,084
n/a
n/a
Gross profit
2,233
n/a
n/a
Gross margin
51.7%
n/a
n/a
Selling, general and administrative
122
155
147
-21.4%
Operating income
300
709
636
-57.8%
Operating margin
6.9%
16.6%
16.5%
Interest expense
485
521
492
-7.0%
Pre-tax income
300
709
636
-57.8%
Income tax
20.1
-19.1
6.5
Effective tax rate
6.7%
-2.7%
1.0%
Net income
464
1,012
818
-54.2%
Net margin
10.7%
23.6%
21.2%
Diluted EPS
$1.26
$2.81
$2.34
-55.2%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,434
1,639
1,383
-12.5%
Capital expenditure
250
219
188
+14.2%
Free cash flow
1,184
1,420
1,195
-16.6%
Free cash flow margin
27.4%
33.2%
31.0%
Cash from investing
155
-183
-3,502
Cash from financing
-1,914
-1,251
1,997
Depreciation and amortisation
922
901
826
+2.3%
Share-based compensation
19.1
28.9
30.8
-33.8%
Dividends paid
1,277
1,234
1,145
+3.6%
Dividend per share
$3.48
$3.44
$3.30
+1.2%
Diluted shares, weighted
369m
360m
349m
+2.4%
Shares outstanding at period end
372m
363m
355m
+2.5%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
14,423
14,806
14,591
-2.6%
Non-controlling interest
502
475
585
+5.7%
Redeemable equity
375
398
183
-5.8%
Debt
11,660
12,284
12,892
-5.1%
Other liabilities
984
901
773
+9.2%
Total liabilities and equity
27,944
28,865
29,024
-3.2%
Goodwill
68.3
68.3
68.3
0.0%
Intangible assets
377
436
469
-13.6%
Cash and equivalents
244
419
423
-41.9%
Other assets
27,255
27,941
28,063
-2.5%
Total assets
27,944
28,865
29,024
-3.2%
10-K for the year ended 31 December 2017, filed 28 February 2018: the filing.