AMETEK (AME) FY2013 results: revenue $3.6 billion, up 7.8% on the year
AMETEK Inc. (AME) reported revenue of $3.6 billion for fiscal 2013, the year ended 31 December 2013, up 7.8% on the year before. Net income was $517 million, up 12.6%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$3.6 billion
+7.8% on the year
FY2007FY2013
Operating margin
22.7%
22.4% a year earlier
FY2007FY2013
Net income
$517 million
+12.6% on the year
FY2007FY2013
Diluted EPS
$2.10
+11.7% 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
3,594
3,334
2,990
+7.8%
Research and development
93.9
84.9
78.0
+10.6%
Selling, general and administrative
398
381
349
+4.6%
Operating income
815
746
636
+9.3%
Operating margin
22.7%
22.4%
21.3%
Interest expense
73.6
75.5
69.7
-2.5%
Pre-tax income
725
662
557
+9.4%
Income tax
208
203
172
+2.2%
Effective tax rate
28.7%
30.7%
30.9%
Net income
517
459
384
+12.6%
Net margin
14.4%
13.8%
12.9%
Diluted EPS
$2.10
$1.88
$1.58
+11.7%
$ 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
661
612
509
+7.9%
Capital expenditure
63.3
57.4
50.8
+10.3%
Free cash flow
597
555
458
+7.6%
Free cash flow margin
16.6%
16.6%
15.3%
Cash from investing
-460
-804
-526
Cash from financing
-70.3
175
31.9
Depreciation and amortisation
119
105
86.5
+12.5%
Share-based compensation
21.6
19.4
22.1
+11.4%
Buybacks
8.5
4.6
59.3
+82.4%
Dividends paid
58.4
53.1
38.4
+10.0%
Dividend per share
$0.24
$0.22
$0.16
+9.1%
Diluted shares, weighted
246m
244m
243m
+0.9%
Shares outstanding at period end
245m
243m
241m
+0.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,136
2,535
2,053
+23.7%
Debt
1,415
1,454
1,264
-2.7%
Other liabilities
1,327
1,201
1,003
+10.5%
Total liabilities and equity
5,878
5,190
4,319
+13.3%
Fixed assets
403
383
325
+5.0%
Goodwill
2,408
2,208
1,806
+9.1%
Intangible assets
1,474
1,310
983
+12.5%
Investments
n/a
n/a
4.6
Securities held for sale or to maturity
8.2
n/a
n/a
Cash and equivalents
295
158
170
+86.9%
Receivables
537
508
438
+5.7%
Inventory
453
429
380
+5.6%
Other assets
300
194
211
+54.7%
Total assets
5,878
5,190
4,319
+13.3%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.