Amgen (AMGN) FY2013 results: revenue $18.7 billion, up 8.2% on the year
Amgen Inc. (AMGN) reported revenue of $18.7 billion for fiscal 2013, the year ended 31 December 2013, up 8.2% on the year before. Net income was $5.1 billion, up 16.9%, and diluted earnings per share $6.64. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$18.7 billion
+8.2% on the year
FY2007FY2013
Operating margin
31.4%
32.3% a year earlier
FY2007FY2013
Net income
$5.1 billion
+16.9% on the year
FY2007FY2013
Diluted EPS
$6.64
+20.3% 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
18,676
17,265
15,582
+8.2%
Cost of revenue
3,346
3,199
2,708
+4.6%
Gross profit
15,330
14,066
12,874
+9.0%
Gross margin
82.1%
81.5%
82.6%
Research and development
4,083
3,380
3,167
+20.8%
Selling, general and administrative
5,184
4,814
4,499
+7.7%
Operating income
5,867
5,577
4,312
+5.2%
Operating margin
31.4%
32.3%
27.7%
Interest expense
1,022
1,053
610
-2.9%
Pre-tax income
5,265
5,009
4,150
+5.1%
Income tax
184
664
467
-72.3%
Effective tax rate
3.5%
13.3%
11.3%
Net income
5,081
4,345
3,683
+16.9%
Net margin
27.2%
25.2%
23.6%
Diluted EPS
$6.64
$5.52
$4.04
+20.3%
$ 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
6,526
5,882
5,119
+10.9%
Capital expenditure
693
689
567
+0.6%
Free cash flow
5,833
5,193
4,552
+12.3%
Free cash flow margin
31.2%
30.1%
29.2%
Cash from investing
-8,469
-9,990
-786
Cash from financing
2,491
419
-674
+494.5%
Depreciation and amortisation
1,286
1,088
1,060
+18.2%
Share-based compensation
403
362
341
+11.3%
Buybacks
832
4,607
8,315
-81.9%
Dividends paid
1,415
1,118
500
+26.6%
Diluted shares, weighted
765m
787m
912m
-2.8%
Shares outstanding at period end
755m
756m
796m
-0.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
22,096
19,060
19,029
+15.9%
Debt
32,128
26,529
21,428
+21.1%
Other liabilities
11,901
8,709
8,414
+36.7%
Total liabilities and equity
66,125
54,298
48,871
+21.8%
Fixed assets
5,349
5,326
5,420
+0.4%
Goodwill
14,968
12,662
11,750
+18.2%
Intangible assets
13,262
3,968
2,584
+234.2%
Investments
15,596
20,804
13,695
-25.0%
Cash and equivalents
3,805
3,257
6,946
+16.8%
Receivables
2,697
2,518
2,896
+7.1%
Inventory
3,019
2,744
2,484
+10.0%
Other assets
7,429
3,019
3,096
+146.1%
Total assets
66,125
54,298
48,871
+21.8%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.