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 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $193.38M | $189.30M | $188.29M | - | $182.90M | $174.94M | $168.40M | - | $152.57M | $164.63M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $14.06M | $15.07M | $15.88M | - | $14.31M | $13.42M | $14.67M | - | $13.10M | $13.45M |
| Total Operating Expenses | $158.33M | $148.43M | $141.08M | - | $129.31M | $130.92M | $118.55M | - | $111.90M | $114.07M |
| D&A | $79.37M | $78.94M | $78.21M | - | $74.60M | $72.90M | $69.11M | - | $63.06M | $60.07M |
| Operating Income | $38.70M | $54.48M | $96.40M | - | $76.90M | $82.95M | $56.23M | - | $41.12M | $88.05M |
| Interest Expense | $36.92M | $34.53M | $33.55M | - | $30.96M | $27.59M | $26.02M | - | $25.08M | $26.17M |
| Income Tax | $235.0K | $296.0K | $223.0K | - | $261.0K | $207.0K | $172.0K | - | $244.0K | $129.0K |
| Net Income | $38.47M | $54.18M | $96.17M | - | $76.64M | $82.74M | $56.06M | - | $40.88M | $87.92M |
| EPS - Basic | $0.25 | $0.36 | $0.66 | - | $0.54 | $0.60 | $0.42 | - | $0.32 | $0.74 |
| EPS - Diluted | $0.25 | $0.36 | $0.66 | - | $0.54 | $0.60 | $0.42 | - | $0.32 | $0.74 |
Balance Sheet
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $134.17M | $174.56M | $4.87M | $8.77M | $109.83M | $5.44M | $24.23M | $17.80M | $15.56M | $9.40M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $8.65B | $8.70B | $8.48B | $8.47B | $8.34B | $8.08B | $7.79B | $7.33B | $6.90B | $6.71B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | $3.82B | $3.82B | $3.62B | $3.58B | $3.52B | $3.42B | $3.24B | $3.01B | $2.77B | $2.74B |
| Total Liabilities | $4.16B | $4.15B | $3.93B | $3.91B | $3.82B | $3.73B | $3.52B | $3.33B | $3.06B | $3.03B |
| Stockholders' Equity | $4.49B | $4.54B | $4.55B | $4.56B | $4.52B | $4.35B | $4.27B | $4.00B | $3.84B | $3.68B |
| Retained Earnings | ($3.04B) | ($2.98B) | ($2.93B) | ($2.93B) | ($2.91B) | ($2.89B) | ($2.88B) | ($2.84B) | ($2.80B) | ($2.76B) |
Cash Flow
| Line item | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $101.69M | - | - | - | $78.27M | - | - | - |
| Investing Cash Flow | - | - | ($89.97M) | - | - | - | ($499.55M) | - | - | - |
| Financing Cash Flow | - | - | ($55.17M) | - | - | - | $430.06M | - | - | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 20.0% | 28.8% | 51.2% | - | 42.0% | 47.4% | 33.4% | - | 27.0% | 53.5% |
| EBITDA margin | 61.1% | 70.5% | 92.7% | - | 82.8% | 89.1% | 74.4% | - | 68.3% | 90.0% |
| Net margin | 19.9% | 28.6% | 51.1% | - | 41.9% | 47.3% | 33.3% | - | 26.8% | 53.4% |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 7.3% | 8.0% | 8.4% | - | 7.8% | 7.7% | 8.7% | - | 8.6% | 8.2% |
| Effective tax rate | 0.6% | 0.5% | 0.2% | - | 0.3% | 0.2% | 0.3% | - | 0.6% | 0.1% |
| Return on assets | 0.4% | 0.6% | 1.1% | - | 0.9% | 1.0% | 0.7% | - | 0.6% | 1.3% |
| Return on equity | 0.9% | 1.2% | 2.1% | - | 1.7% | 1.9% | 1.3% | - | 1.1% | 2.4% |
| Return on invested capital | 0.5% | 0.6% | 1.2% | - | 1.0% | 1.1% | 0.7% | - | 0.6% | 1.4% |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | 0.85 | 0.84 | 0.79 | 0.78 | 0.78 | 0.79 | 0.76 | 0.75 | 0.72 | 0.74 |
| Debt / Assets | 0.44 | 0.44 | 0.43 | 0.42 | 0.42 | 0.42 | 0.42 | 0.41 | 0.40 | 0.41 |
| Debt / EBITDA | 32.35 | 28.62 | 20.73 | - | 23.22 | 21.95 | 25.89 | - | 26.61 | 18.47 |
| Interest coverage | 1.0x | 1.6x | 2.9x | - | 2.5x | 3.0x | 2.2x | - | 1.6x | 3.4x |
| Equity multiplier | 1.93 | 1.92 | 1.86 | 1.86 | 1.85 | 1.86 | 1.83 | 1.83 | 1.80 | 1.82 |
| Liabilities / Assets | 0.48 | 0.48 | 0.46 | 0.46 | 0.46 | 0.46 | 0.45 | 0.45 | 0.44 | 0.45 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | 0.02 | 0.02 | - | 0.02 | 0.02 | 0.02 | - | 0.02 | 0.02 |
| 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) | 5.7% | 8.2% | 11.8% | - | 19.9% | 6.3% | 24.6% | - | 34.1% | 38.9% |
| Revenue CAGR (3y) | 19.4% | 16.9% | 15.3% | - | 3.1% | 14.8% | 14.4% | - | 11.6% | 17.1% |
| Revenue CAGR (5y) | 12.0% | 13.1% | 2.6% | - | 1.5% | 0.7% | 0.4% | - | -2.4% | -0.8% |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -49.7% | -34.3% | 71.4% | - | 87.0% | -5.8% | - | - | 193.8% | - |
| Net income growth (YoY) | -49.8% | -34.5% | 71.6% | - | 87.5% | -5.9% | - | - | 196.3% | - |
| EPS growth (YoY) | -53.7% | -40.0% | 57.1% | - | 68.8% | -18.9% | - | - | 190.9% | - |
| EPS CAGR (3y) | 31.5% | - | - | - | -14.7% | 7.0% | -4.4% | - | 74.7% | 191.1% |
| EPS CAGR (5y) | 33.0% | 64.4% | 61.5% | - | 122.1% | 64.4% | 69.5% | - | 39.8% | 49.2% |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -0.6% | 4.3% | 6.8% | 14.0% | 17.8% | 18.1% | 21.0% | 11.1% | 15.2% | 12.2% |
Peer comparison
Same SIC group: Opeators of Nonresidential Buildings
Comparing SPIRIT REALTY CAPITAL against the 5 most active filers in the same SIC group.