American Financial Group (AFG) FY2013 results: revenue $5.1 billion, up 2.9% on the year
American Financial Group Inc. (AFG) reported revenue of $5.1 billion for fiscal 2013, the year ended 31 December 2013, up 2.9% on the year before. Net income was $471 million, down 3.5%, and diluted earnings per share $5.16. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$5.1 billion
+2.9% on the year
FY2008FY2013
Operating margin
13.5%
10.8% a year earlier
FY2008FY2013
Net income
$471 million
-3.5% on the year
FY2008FY2013
Diluted EPS
$5.16
+1.4% on the year
FY2008FY2013
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
5,103
4,957
4,643
+2.9%
Operating income
689
537
558
+28.3%
Operating margin
13.5%
10.8%
12.0%
Interest expense
71.0
75.0
74.0
-5.3%
Pre-tax income
689
537
558
+28.3%
Income tax
236
135
239
+74.8%
Effective tax rate
34.3%
25.1%
42.8%
Net income
471
488
342
-3.5%
Net margin
9.2%
9.8%
7.4%
Diluted EPS
$5.16
$5.09
$3.32
+1.4%
$ 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
760
817
667
-7.0%
Cash from investing
-2,915
-1,425
-2,439
Cash from financing
2,089
989
1,997
+111.2%
Depreciation and amortisation
142
257
180
-44.7%
Share-based compensation
36.0
26.0
22.0
+38.5%
Buybacks
70.0
415
315
-83.1%
Dividends paid
160
90.0
67.0
+77.8%
Dividend per share
$1.80
$0.97
$0.66
+86.1%
Diluted shares, weighted
91m
96m
103m
-4.9%
Shares outstanding at period end
90m
89m
98m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,599
4,578
4,411
+0.5%
Non-controlling interest
170
170
146
0.0%
Debt
913
953
934
-4.2%
Other liabilities
36,405
33,470
30,347
+8.8%
Total liabilities and equity
42,087
39,171
35,838
+7.4%
Goodwill
185
185
186
0.0%
Intangible assets
14.0
28.0
41.0
-50.0%
Securities held for sale or to maturity
26,456
24,118
21,807
+9.7%
Cash and equivalents
1,639
1,705
1,324
-3.9%
Other assets
13,793
13,135
12,480
+5.0%
Total assets
42,087
39,171
35,838
+7.4%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.