Boeing (BA) FY2013 results: revenue $86.6 billion, up 6.0% on the year
Boeing Co. (BA) reported revenue of $86.6 billion for fiscal 2013, the year ended 31 December 2013, up 6.0% on the year before. Net income was $4.6 billion, up 17.6%, and diluted earnings per share $5.96. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$86.6 billion
+6.0% on the year
FY2007FY2013
Operating margin
7.6%
7.7% a year earlier
FY2007FY2013
Net income
$4.6 billion
+17.6% on the year
FY2007FY2013
Diluted EPS
$5.96
+16.6% 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
86,623
81,698
68,735
+6.0%
Cost of revenue
73,268
68,644
55,867
+6.7%
Gross profit
13,355
13,054
12,868
+2.3%
Gross margin
15.4%
16.0%
18.7%
Research and development
3,071
3,298
3,918
-6.9%
Operating income
6,562
6,290
5,823
+4.3%
Operating margin
7.6%
7.7%
8.5%
Pre-tax income
6,232
5,910
5,393
+5.4%
Income tax
1,646
2,007
1,382
-18.0%
Effective tax rate
26.4%
34.0%
25.6%
Net income
4,585
3,900
4,018
+17.6%
Net margin
5.3%
4.8%
5.8%
Diluted EPS
$5.96
$5.11
$5.34
+16.6%
$ 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
8,179
7,508
4,023
+8.9%
Capital expenditure
2,098
1,703
1,713
+23.2%
Free cash flow
6,081
5,805
2,310
+4.8%
Free cash flow margin
7.0%
7.1%
3.4%
Cash from investing
-5,154
-3,757
2,369
Cash from financing
-4,249
-3,477
-1,700
Depreciation and amortisation
1,844
1,811
1,675
+1.8%
Share-based compensation
206
193
186
+6.7%
Buybacks
2,801
n/a
n/a
Dividends paid
1,467
1,322
1,244
+11.0%
Dividend per share
$2.19
$1.81
$1.70
+20.7%
Diluted shares, weighted
768m
762m
753m
+0.8%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
14,875
5,867
3,515
+153.5%
Non-controlling interest
122
100
93.0
+22.0%
Debt
9,635
10,409
12,371
-7.4%
Other liabilities
68,031
72,520
64,007
-6.2%
Total liabilities and equity
92,663
88,896
79,986
+4.2%
Fixed assets
10,224
9,660
9,313
+5.8%
Goodwill
5,043
5,035
4,945
+0.2%
Intangible assets
3,052
3,111
3,044
-1.9%
Investments
7,374
4,397
2,266
+67.7%
Cash and equivalents
9,088
10,341
10,049
-12.1%
Receivables
6,546
5,608
5,793
+16.7%
Other assets
51,336
50,744
44,576
+1.2%
Total assets
92,663
88,896
79,986
+4.2%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.