SRC · Spirit Realty Capital, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $709.63M | $608.39M | $483.62M | $516.43M | $445.13M | $668.96M |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $57.37M | $52.61M | $48.38M | $52.42M | $52.99M | $62.06M |
| Total Operating Expenses | $539.62M | $448.36M | $473.56M | $384.98M | $340.99M | $654.87M |
| D&A | $292.99M | $244.62M | $212.62M | $175.47M | $197.91M | $256.02M |
| Operating Income | $286.41M | $172.31M | $26.98M | $40.94M | $149.28M | $14.08M |
| Interest Expense | $117.62M | $103.00M | $104.17M | $101.06M | $97.55M | $190.13M |
| Income Tax | $897.0K | $607.0K | $273.0K | $11.50M | $792.0K | $394.0K |
| Net Income | $285.52M | $171.70M | $26.71M | $175.27M | $132.05M | $77.15M |
| EPS - Basic | $2.04 | $1.36 | $0.15 | $1.81 | $1.40 | $0.16 |
| EPS - Diluted | $2.04 | $1.35 | $0.15 | $1.81 | $1.39 | $0.16 |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $8.77M | $17.80M | $70.30M | $14.49M | $14.49M | $8.80M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $8.47B | $7.33B | $6.40B | $5.83B | $5.10B | $7.26B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | $3.58B | $3.01B | $2.51B | $2.15B | $2.05B | $3.64B |
| Total Liabilities | $3.91B | $3.33B | $2.80B | $2.42B | $2.29B | $3.94B |
| Stockholders' Equity | $4.56B | $4.00B | $3.60B | $3.41B | $2.80B | $3.32B |
| Retained Earnings | ($2.93B) | ($2.84B) | ($2.69B) | ($2.43B) | ($2.36B) | ($2.04B) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $486.45M | $411.13M | $314.31M | $339.05M | $336.37M | $386.39M |
| Investing Cash Flow | ($1.21B) | ($1.17B) | ($747.75M) | ($895.00M) | ($220.46M) | $82.94M |
| Financing Cash Flow | $772.57M | $693.20M | $490.71M | $504.55M | ($153.19M) | ($470.60M) |
| CapEx | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 40.4% | 28.3% | 5.6% | 7.9% | 33.5% | 2.1% |
| EBITDA margin | 81.6% | 68.5% | 49.5% | 41.9% | 78.0% | 40.4% |
| Net margin | 40.2% | 28.2% | 5.5% | 33.9% | 29.7% | 11.5% |
| Free cash flow margin | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 8.1% | 8.6% | 10.0% | 10.2% | 11.9% | 9.3% |
| Effective tax rate | 0.3% | 0.4% | 1.0% | 6.2% | 0.6% | 0.5% |
| Return on assets | 3.4% | 2.3% | 0.4% | 3.0% | 2.6% | 1.1% |
| Return on equity | 6.3% | 4.3% | 0.7% | 5.1% | 4.7% | 2.3% |
| Return on invested capital | 3.5% | 2.4% | 0.4% | 0.7% | 3.1% | 0.2% |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | 0.78 | 0.75 | 0.70 | 0.63 | 0.73 | 1.10 |
| Debt / Assets | 0.42 | 0.41 | 0.39 | 0.37 | 0.40 | 0.50 |
| Debt / EBITDA | 6.17 | 7.23 | 10.46 | 9.95 | 5.92 | 13.48 |
| Interest coverage | 2.4x | 1.7x | 0.3x | 0.4x | 1.5x | 0.1x |
| Equity multiplier | 1.86 | 1.83 | 1.78 | 1.71 | 1.82 | 2.19 |
| Liabilities / Assets | 0.46 | 0.45 | 0.44 | 0.41 | 0.45 | 0.54 |
| Efficiency | ||||||
| Asset turnover | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 16.6% | 25.8% | -6.4% | 16.0% | -33.5% | -2.5% |
| Revenue CAGR (3y) | 11.2% | 11.0% | -10.2% | -9.0% | -12.6% | 3.5% |
| Revenue CAGR (5y) | 1.2% | -2.4% | -6.2% | -3.0% | 1.2% | 18.8% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 66.2% | 538.6% | -34.1% | -72.6% | 960.2% | -69.3% |
| Net income growth (YoY) | 66.3% | 542.9% | -84.8% | 32.7% | 71.2% | -20.8% |
| EPS growth (YoY) | 51.1% | 800.0% | -91.7% | 30.2% | 768.8% | -23.8% |
| EPS CAGR (3y) | 4.1% | -1.0% | -2.1% | 105.0% | - | - |
| EPS CAGR (5y) | 66.4% | 45.1% | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 14.0% | 11.1% | 5.5% | 21.8% | -15.6% | -9.8% |
Stability scores
Piotroski F-score
FY 2022 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- -Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Opeators of Nonresidential Buildings
Comparing SPIRIT REALTY CAPITAL against the 5 most active filers in the same SIC group.