Baxter International (BAX) FY2012 results: revenue $13.9 billion, up 0.3% on the year
Baxter International Inc. (BAX) reported revenue of $13.9 billion for fiscal 2012, the year ended 31 December 2012, up 0.3% on the year before. Net income was $2.3 billion, up 4.6%, and diluted earnings per share $4.18. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$13.9 billion
+0.3% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$2.3 billion
+4.6% on the year
FY2007FY2012
Diluted EPS
$4.18
+7.7% 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
13,936
13,893
12,843
+0.3%
Cost of revenue
6,802
6,847
6,885
-0.7%
Gross profit
7,134
7,046
5,958
+1.2%
Gross margin
51.2%
50.7%
46.4%
Research and development
1,081
946
915
+14.3%
Selling, general and administrative
3,283
3,154
2,907
+4.1%
Interest expense
113
92.0
115
+22.8%
Pre-tax income
2,889
2,809
1,890
+2.8%
Income tax
555
553
463
+0.4%
Effective tax rate
19.2%
19.7%
24.5%
Net income
2,326
2,224
1,420
+4.6%
Net margin
16.7%
16.0%
11.1%
Diluted EPS
$4.18
$3.88
$2.39
+7.7%
$ 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
3,106
2,817
3,003
+10.3%
Capital expenditure
1,161
960
963
+20.9%
Free cash flow
1,945
1,857
2,040
+4.7%
Free cash flow margin
14.0%
13.4%
15.9%
Cash from investing
-1,569
-1,427
-1,264
Cash from financing
-1,115
-1,137
-1,716
Depreciation and amortisation
712
670
685
+6.3%
Share-based compensation
130
119
120
+9.2%
Buybacks
1,480
1,583
1,453
-6.5%
Dividends paid
804
709
688
+13.4%
Dividend per share
$1.57
$1.26
$1.18
+24.1%
Diluted shares, weighted
556m
573m
594m
-3.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,938
6,585
6,567
+5.4%
Non-controlling interest
40.0
243
229
-83.5%
Debt
5,930
5,195
4,387
+14.1%
Other liabilities
7,482
7,050
6,306
+6.1%
Total liabilities and equity
20,390
19,073
17,489
+6.9%
Fixed assets
6,098
5,525
5,260
+10.4%
Goodwill
2,502
2,317
2,015
+8.0%
Intangible assets
814
826
500
-1.5%
Cash and equivalents
3,270
2,905
2,685
+12.6%
Receivables
n/a
n/a
2,265
Inventory
2,803
2,628
2,371
+6.7%
Other assets
4,903
4,872
2,393
+0.6%
Total assets
20,390
19,073
17,489
+6.9%
10-K for the year ended 31 December 2012, filed 21 February 2013: the filing.