Franklin Templeton (BEN) FY2013 results: revenue $8.0 billion, up 12.4% on the year
Franklin Templeton Inc. (BEN) reported revenue of $8.0 billion for fiscal 2013, the year ended 30 September 2013, up 12.4% on the year before. Net income was $2.2 billion, up 11.3%, and diluted earnings per share $3.37. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2013.
Revenue
$8.0 billion
+12.4% on the year
FY2007FY2013
Operating margin
36.6%
35.4% a year earlier
FY2007FY2013
Net income
$2.2 billion
+11.3% on the year
FY2007FY2013
Diluted EPS
$3.37
+13.0% 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
7,985
7,101
7,140
+12.4%
Operating income
2,921
2,515
2,660
+16.1%
Operating margin
36.6%
35.4%
37.3%
Interest expense
46.9
36.7
37.4
+27.8%
Pre-tax income
3,027
2,678
2,624
+13.0%
Income tax
856
763
803
+12.2%
Effective tax rate
28.3%
28.5%
30.6%
Net income
2,150
1,931
1,924
+11.3%
Net margin
26.9%
27.2%
26.9%
Diluted EPS
$3.37
$2.98
$2.87
+13.0%
$ 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
2,036
1,066
1,622
+90.9%
Capital expenditure
62.2
78.4
132
-20.7%
Free cash flow
1,974
988
1,490
+99.8%
Free cash flow margin
24.7%
13.9%
20.9%
Cash from investing
233
873
436
-73.3%
Cash from financing
-2,018
-1,085
-968
Depreciation and amortisation
76.9
67.9
71.5
+13.3%
Share-based compensation
113
101
88.7
+11.9%
Buybacks
491
797
954
-38.4%
Dividends paid
883
663
216
+33.1%
Dividend per share
$1.39
$1.03
$0.33
+35.4%
Diluted shares, weighted
634m
643m
666m
-1.4%
Shares outstanding at period end
631m
637m
653m
-0.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
10,073
9,201
8,525
+9.5%
Non-controlling interest
612
559
579
+9.5%
Redeemable equity
122
n/a
n/a
Deposits
587
672
890
-12.6%
Debt
1,198
1,566
1,133
-23.5%
Other liabilities
2,798
2,753
2,649
+1.6%
Total liabilities and equity
15,390
14,752
13,776
+4.3%
Fixed assets
564
583
590
-3.2%
Goodwill
1,702
1,541
1,536
+10.4%
Intangible assets
658
601
612
+9.4%
Investments
n/a
n/a
2,923
Securities held for sale or to maturity
25.4
99.5
n/a
-74.5%
Loans
230
254
402
-9.7%
Trading assets
1,197
1,131
529
+5.8%
Cash and equivalents
6,323
6,051
5,199
+4.5%
Receivables
n/a
n/a
772
Other assets
4,692
4,491
1,214
+4.5%
Total assets
15,390
14,752
13,776
+4.3%
10-K for the year ended 30 September 2013, filed 12 November 2013: the filing.