A. O. Smith (AOS) FY2012 results: revenue $1.9 billion, up 13.4% on the year
A. O. Smith Corp. (AOS) reported revenue of $1.9 billion for fiscal 2012, the year ended 31 December 2012, up 13.4% on the year before. Net income was $159 million, down 48.1%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$1.9 billion
+13.4% on the year
FY2008FY2012
Operating margin
13.4%
11.5% a year earlier
FY2008FY2012
Net income
$159 million
-48.1% on the year
FY2008FY2012
Diluted EPS
$0.85
-48.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
1,939
1,710
1,489
+13.4%
Cost of revenue
1,287
1,198
1,043
+7.5%
Gross profit
652
513
446
+27.2%
Gross margin
33.6%
30.0%
29.9%
Research and development
51.7
42.7
37.1
+21.1%
Selling, general and administrative
450
373
329
+20.8%
Operating income
259
196
133
+32.0%
Operating margin
13.4%
11.5%
8.9%
Interest expense
9.2
9.3
6.9
-1.1%
Pre-tax income
234
162
74.4
+44.8%
Income tax
71.2
50.3
17.3
+41.6%
Effective tax rate
30.5%
31.1%
23.3%
Net income
159
306
112
-48.1%
Net margin
8.2%
17.9%
7.5%
Diluted EPS
$0.85
$1.64
$0.60
-48.1%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
144
58.7
125
+145.0%
Capital expenditure
69.9
53.5
53.5
+30.7%
Free cash flow
73.9
5.2
71.3
+1,321.2%
Free cash flow margin
3.8%
0.3%
4.8%
Cash from investing
-86.8
126
-66.5
Cash from financing
-254
160
-15.7
Depreciation and amortisation
54.6
47.0
40.8
+16.2%
Share-based compensation
6.8
5.7
n/a
+19.3%
Buybacks
22.0
23.5
n/a
-6.4%
Dividends paid
33.2
27.7
24.7
+19.9%
Dividend per share
$0.18
$0.15
$0.14
+20.0%
Diluted shares, weighted
186m
186m
185m
-0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
1,194
1,086
881
+10.0%
Debt
244
462
261
-47.2%
Other liabilities
841
802
970
+4.9%
Total liabilities and equity
2,279
2,349
2,112
-3.0%
Fixed assets
346
315
258
+9.6%
Goodwill
435
434
324
+0.4%
Intangible assets
339
353
107
-4.0%
Investments
196
n/a
n/a
Cash and equivalents
267
463
119
-42.4%
Receivables
425
368
313
+15.5%
Inventory
163
168
147
-3.0%
Other assets
107
247
844
-56.6%
Total assets
2,279
2,349
2,112
-3.0%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.