Becton Dickinson (BDX) FY2013 results: revenue $8.1 billion, up 4.5% on the year
Becton Dickinson & Co. (BDX) reported revenue of $8.1 billion for fiscal 2013, the year ended 30 September 2013, up 4.5% on the year before. Net income was $1.3 billion, up 10.5%, and diluted earnings per share $6.49. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2013.
Revenue
$8.1 billion
+4.5% on the year
FY2007FY2013
Operating margin
15.6%
20.2% a year earlier
FY2007FY2013
Net income
$1.3 billion
+10.5% on the year
FY2007FY2013
Diluted EPS
$6.49
+16.1% 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
8,054
7,708
7,584
+4.5%
Cost of revenue
3,883
3,755
3,625
+3.4%
Gross profit
4,171
3,953
3,959
+5.5%
Gross margin
51.8%
51.3%
52.2%
Research and development
494
472
470
+4.7%
Selling, general and administrative
2,422
1,923
1,824
+25.9%
Operating income
1,254
1,558
1,666
-19.5%
Operating margin
15.6%
20.2%
22.0%
Interest expense
138
135
84.0
+2.2%
Pre-tax income
1,165
1,472
1,618
-20.9%
Income tax
236
363
417
-35.0%
Effective tax rate
20.3%
24.6%
25.8%
Net income
1,293
1,170
1,271
+10.5%
Net margin
16.1%
15.2%
16.8%
Diluted EPS
$6.49
$5.59
$5.62
+16.1%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
n/a
1,760
1,716
Capital expenditure
522
487
509
+7.1%
Free cash flow
n/a
1,273
1,207
Free cash flow margin
n/a
16.5%
15.9%
Depreciation and amortisation
546
511
494
+6.9%
Share-based compensation
100
89.0
73.0
+12.3%
Buybacks
450
1,500
1,500
-70.0%
Dividends paid
386
368
361
+5.0%
Dividend per share
$1.98
n/a
n/a
Diluted shares, weighted
199m
209m
226m
-4.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
5,043
4,136
4,828
+21.9%
Debt
3,970
4,166
2,720
-4.7%
Other liabilities
3,136
3,059
2,883
+2.5%
Total liabilities and equity
12,149
11,361
10,430
+6.9%
Fixed assets
3,476
3,304
3,211
+5.2%
Goodwill
1,109
1,076
991
+3.1%
Cash and equivalents
1,890
1,671
1,175
+13.1%
Receivables
1,240
1,250
1,229
-0.8%
Inventory
1,402
1,241
1,245
+13.0%
Other assets
3,032
2,820
2,579
+7.5%
Total assets
12,149
11,361
10,430
+6.9%
10-K for the year ended 30 September 2013, filed 27 November 2013: the filing.