Air Products & Chemicals (APD) FY2012 results: revenue $9.6 billion, down 0.6% on the year
Air Products & Chemicals, Inc. (APD) reported revenue of $9.6 billion for fiscal 2012, the year ended 30 September 2012, down 0.6% on the year before. Net income was $1.2 billion, down 4.6%, and diluted earnings per share $5.44. The figures are the company's own, from the 10-K it filed with the SEC on 20 November 2012.
Revenue
$9.6 billion
-0.6% on the year
FY2007FY2012
Operating margin
13.3%
15.6% a year earlier
FY2007FY2012
Net income
$1.2 billion
-4.6% on the year
FY2007FY2012
Diluted EPS
$5.44
-3.4% on the year
FY2007FY2012
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
9,612
9,674
8,616
-0.6%
Cost of revenue
7,052
7,098
6,289
-0.7%
Gross profit
2,560
2,575
2,327
-0.6%
Gross margin
26.6%
26.6%
27.0%
Research and development
126
119
115
+6.4%
Selling, general and administrative
947
942
887
+0.5%
Operating income
1,282
1,508
1,268
-15.0%
Operating margin
13.3%
15.6%
14.7%
Interest expense
124
116
122
+7.1%
Pre-tax income
1,312
1,547
1,273
-15.2%
Income tax
287
375
306
-23.4%
Effective tax rate
21.9%
24.3%
24.0%
Net income
1,167
1,224
1,029
-4.6%
Net margin
12.1%
12.7%
11.9%
Diluted EPS
$5.44
$5.63
$4.74
-3.4%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,799
1,753
1,522
+2.6%
Capital expenditure
1,521
1,309
989
+16.2%
Free cash flow
278
444
534
-37.4%
Free cash flow margin
2.9%
4.6%
6.2%
Cash from investing
n/a
-1,212
-1,056
Cash from financing
n/a
-484
-580
Depreciation and amortisation
841
834
827
+0.8%
Share-based compensation
43.8
44.8
48.6
-2.2%
Buybacks
53.1
649
0.0
-91.8%
Dividends paid
515
457
399
+12.7%
Dividend per share
$2.50
$2.23
$1.92
+12.1%
Diluted shares, weighted
215m
218m
217m
-1.3%
Shares outstanding at period end
212m
210m
214m
+1.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,477
5,796
5,547
+11.8%
Non-controlling interest
146
143
151
+2.2%
Redeemable equity
392
0.0
n/a
Debt
5,292
4,562
4,128
+16.0%
Other liabilities
4,634
3,790
3,680
+22.3%
Total liabilities and equity
16,942
14,291
13,506
+18.6%
Fixed assets
8,241
7,223
6,849
+14.1%
Goodwill
1,598
796
817
+100.8%
Intangible assets
762
261
286
+192.1%
Securities held for sale or to maturity
n/a
n/a
967
Cash and equivalents
454
421
374
+7.8%
Receivables
1,545
1,362
1,482
+13.4%
Inventory
787
670
572
+17.4%
Other assets
3,556
3,558
2,159
-0.1%
Total assets
16,942
14,291
13,506
+18.6%
10-K for the year ended 30 September 2012, filed 20 November 2012: the filing.