Apple (AAPL) FY2013 results: revenue $170.9 billion, up 9.2% on the year
Apple Inc. (AAPL) reported revenue of $170.9 billion for fiscal 2013, the year ended 28 September 2013, up 9.2% on the year before. Net income was $37.0 billion, down 11.3%, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 30 October 2013.
Revenue
$170.9 billion
+9.2% on the year
FY2007FY2013
Operating margin
28.7%
35.3% a year earlier
FY2007FY2013
Net income
$37.0 billion
-11.3% on the year
FY2007FY2013
Diluted EPS
$1.42
-10.0% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
170,910
156,508
108,249
+9.2%
Cost of revenue
106,606
87,846
64,431
+21.4%
Gross profit
64,304
68,662
43,818
-6.3%
Gross margin
37.6%
43.9%
40.5%
Research and development
4,475
3,381
2,429
+32.4%
Selling, general and administrative
10,830
10,040
7,599
+7.9%
Operating income
48,999
55,241
33,790
-11.3%
Operating margin
28.7%
35.3%
31.2%
Interest expense
136
0.0
0.0
Pre-tax income
50,155
55,763
34,205
-10.1%
Income tax
13,118
14,030
8,283
-6.5%
Effective tax rate
26.2%
25.2%
24.2%
Net income
37,037
41,733
25,922
-11.3%
Net margin
21.7%
26.7%
23.9%
Diluted EPS
$1.42
$1.58
$0.99
-10.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
53,666
50,856
37,529
+5.5%
Capital expenditure
8,165
8,295
4,260
-1.6%
Free cash flow
45,501
42,561
33,269
+6.9%
Free cash flow margin
26.6%
27.2%
30.7%
Cash from investing
-33,774
-48,227
-40,419
Cash from financing
-16,379
-1,698
1,444
Depreciation and amortisation
5,800
2,600
1,600
+123.1%
Share-based compensation
2,253
1,740
1,168
+29.5%
Buybacks
22,860
0.0
0.0
Dividends paid
10,528
n/a
n/a
Dividend per share
$0.41
$0.09
$0.00
+330.3%
Diluted shares, weighted
26,087m
26,470m
26,226m
-1.4%
Shares outstanding at period end
25,178m
26,298m
26,020m
-4.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
123,549
118,210
76,615
+4.5%
Debt
16,960
0.0
0.0
Other liabilities
66,491
57,854
39,756
+14.9%
Total liabilities and equity
207,000
176,064
116,371
+17.6%
Fixed assets
16,597
15,452
7,777
+7.4%
Goodwill
1,577
1,135
896
+38.9%
Intangible assets
4,179
4,224
3,536
-1.1%
Investments
132,502
110,505
71,755
+19.9%
Cash and equivalents
14,259
10,746
9,815
+32.7%
Receivables
13,102
10,930
5,369
+19.9%
Inventory
1,764
791
776
+123.0%
Other assets
23,020
22,281
16,447
+3.3%
Total assets
207,000
176,064
116,371
+17.6%
10-K for the year ended 28 September 2013, filed 30 October 2013: the filing.