Ball (BALL) FY2013 results: revenue $8.5 billion, down 3.1% on the year
Ball Corp. (BALL) reported revenue of $8.5 billion for fiscal 2013, the year ended 31 December 2013, down 3.1% on the year before. Net income was $407 million, up 2.6%, and diluted earnings per share $1.36. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$8.5 billion
-3.1% on the year
FY2008FY2013
Operating margin
9.4%
9.0% a year earlier
FY2008FY2013
Net income
$407 million
+2.6% on the year
FY2008FY2013
Diluted EPS
$1.36
+9.2% on the year
FY2008FY2013
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
8,468
8,736
8,631
-3.1%
Cost of revenue
n/a
n/a
7,081
Gross profit
1,339
1,319
1,281
+1.5%
Gross margin
15.8%
15.1%
14.8%
Research and development
31.2
26.8
22.3
+16.4%
Selling, general and administrative
419
386
381
+8.6%
Operating income
795
790
837
+0.6%
Operating margin
9.4%
9.0%
9.7%
Interest expense
212
195
177
+8.7%
Pre-tax income
584
596
660
-2.0%
Income tax
150
172
201
-13.1%
Effective tax rate
25.6%
28.9%
30.5%
Net income
407
396
444
+2.6%
Net margin
4.8%
4.5%
5.1%
Diluted EPS
$1.36
$1.25
$1.31
+9.2%
$ 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
839
853
948
-1.7%
Capital expenditure
378
305
444
+24.0%
Free cash flow
461
548
505
-16.0%
Free cash flow margin
5.4%
6.3%
5.8%
Cash from investing
-379
-356
-738
Cash from financing
-204
-487
-217
Depreciation and amortisation
300
283
301
+6.0%
Share-based compensation
24.5
26.7
24.7
-8.2%
Buybacks
432
547
513
-21.1%
Dividends paid
75.2
61.8
45.7
+21.7%
Dividend per share
$0.26
$0.20
$0.14
+30.0%
Diluted shares, weighted
298m
316m
337m
-5.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,225
1,115
1,219
+9.9%
Non-controlling interest
191
175
159
+9.1%
Debt
3,605
3,305
3,144
+9.1%
Other liabilities
2,799
2,912
2,762
-3.9%
Total liabilities and equity
7,820
7,507
7,285
+4.2%
Fixed assets
2,372
2,277
2,220
+4.2%
Goodwill
2,404
2,359
2,247
+1.9%
Intangible assets
166
163
181
+2.0%
Cash and equivalents
416
174
166
+138.9%
Receivables
799
865
841
-7.6%
Inventory
1,028
1,044
1,072
-1.5%
Other assets
634
625
558
+1.4%
Total assets
7,820
7,507
7,285
+4.2%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.