STAG Industrial, Inc. (STAG) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Rental income						212.7	186.5	149.5
Tenant recoveries							31.7	23.6
Other						37.5	0.5	0.7
Total revenues [+]	562.2	483.4	406.0	351.0	301.1	250.2	218.6	173.8
Tenant reimbursements							31.7	23.6
Lease / rental						212.7	186.5	149.5
Other real estate							0.5	0.7
Other income	2.7	0.6	0.6	1.3	0.3	0.4
Revenue growth [+]	16.3%	19.1%	15.7%	16.6%	20.3%	14.5%	25.8%	29.8%
Rental income						14.1%	24.7%	28.5%
Tenant recoveries							34.1%	44.4%
Cost of goods sold	108.0	89.4	75.2	69.0	57.7	48.9	42.6	33.4
Gross profit	454.2	394.1	330.8	282.0	243.4	201.3	176.0	140.4
Gross margin	80.8%	81.5%	81.5%	80.3%	80.8%	80.5%	80.5%	80.8%
Selling, general and administrative [+]	48.6	40.1	35.9	34.1	33.3	33.4	28.8	26.4
General and administrative	48.6	40.1	35.9	34.1	33.3	33.4	28.8	26.4
Other operating expenses	-58.3	-59.0	-52.8	-47.5	-41.0	-38.5	-35.0	-0.6
EBITDA [+]	463.9	413.0	347.6	295.4	251.0	206.4	182.3	114.7
EBITDA growth	12.3%	18.8%	17.7%	17.7%	21.6%	13.2%	59.0%	21.4%
EBITDA margin	82.5%	85.4%	85.6%	84.2%	83.4%	82.5%	83.4%	66.0%
Depreciation and amortization	238.7	214.7	185.5	167.6	150.9	125.4	110.4	87.7
EBIT [+]	225.2	198.3	162.2	127.8	100.1	81.0	71.9	27.0
EBIT growth	13.6%	22.3%	26.9%	27.6%	23.6%	12.7%	166.7%	13.1%
EBIT margin	40.1%	41.0%	39.9%	36.4%	33.3%	32.4%	32.9%	15.5%
Non-recurring items [+]		5.6	9.8	6.2	7.3	21.4	34.0	7.2
Asset impairment		5.6	9.8	6.2	1.9	16.8	29.3	2.8
Interest expense, net [+]	63.5	62.3	54.6	48.8	42.5	42.9	36.1	25.1
Interest expense	63.5	62.3	54.6	48.8	42.5	42.9	36.1	25.1
Interest income							0.0	0.0
Other income (expense), net [+]	34.7	76.4	-47.1	23.4	-18.2	18.9	-31.1	0.7
Gain (loss) on sale of assets	98.0	135.7	7.4	72.2
Gain (loss) on debt retirement	-2.2	-0.8		0.0	0.0	-3.3		-0.7
Pre-tax income	196.4	206.8	50.7	96.2	32.2	35.6	-29.3	-4.7
Income taxes	4.1	4.6	1.4	3.3	0.9	1.1	-2.0	-1.0
Tax rate	2.1%	2.2%	2.7%	3.4%	2.9%	3.0%	6.7%	21.2%
Minority interest	4.1	4.6	1.4	3.3	0.9	1.1	-2.0	-1.0
Net income	188.2	196.7	43.8	82.4	21.1	20.2	-38.6	-14.9
Net margin	33.5%	40.7%	10.8%	23.5%	7.0%	8.1%	-17.7%	-8.6%

Basic EPS [+]	$1.15	$1.32	$0.35	$0.80	$0.24	$0.29	($0.58)	($0.28)
Growth	-12.9%	278.4%	-56.1%	237.6%	-17.6%	-149.2%	111.6%	-18.7%
Diluted EPS [+]	$1.15	$1.32	$0.35	$0.79	$0.23	$0.29	($0.58)	($0.28)
Growth	-13.0%	278.2%	-56.1%	238.0%	-17.8%	-149.0%	111.6%	-18.7%

Dividends per share [+]	$1.45	$1.44	$1.51	$1.54	$1.57	$1.66	$1.60	$1.56
Growth	0.7%	-4.8%	-1.6%	-2.4%	-5.3%	4.1%	2.0%	-12.6%

Shares outstanding (basic) [+]	163.4	148.8	125.4	103.4	89.5	70.6	66.3	54.1
Growth	9.8%	18.7%	21.3%	15.5%	26.8%	6.5%	22.6%	27.7%
Shares outstanding (diluted) [+]	164.1	149.2	125.7	103.8	90.0	70.9	66.3	54.1
Growth	10.0%	18.7%	21.1%	15.3%	27.0%	6.9%	22.6%	27.7%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.