BGC Group (BGC) FY2013 results: revenue $1.7 billion, up 1.1% on the year
BGC Group, Inc. (BGC) reported revenue of $1.7 billion for fiscal 2013, the year ended 31 December 2013, up 1.1% on the year before. Net income was $71 million, up 197.2%, and diluted earnings per share $0.36. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$1.7 billion
+1.1% on the year
FY2009FY2013
Operating margin
-27.9%
0.9% a year earlier
FY2009FY2013
Net income
$71 million
+197.2% on the year
FY2009FY2013
Diluted EPS
$0.36
+125.0% on the year
FY2009FY2013
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
1,745
1,726
1,465
+1.1%
Operating income
-487
15.0
54.4
Operating margin
-27.9%
0.9%
3.7%
Interest expense
38.3
34.9
24.6
+9.9%
Pre-tax income
266
55.7
54.4
+377.1%
Income tax
92.2
20.2
16.0
+355.7%
Effective tax rate
34.7%
36.3%
29.4%
Net income
70.9
23.9
20.1
+197.2%
Net margin
4.1%
1.4%
1.4%
Diluted EPS
$0.36
$0.16
$0.17
+125.0%
$ 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
166
171
85.3
-2.8%
Capital expenditure
23.0
36.8
27.2
-37.5%
Free cash flow
143
134
58.2
+6.6%
Free cash flow margin
8.2%
7.8%
4.0%
Cash from investing
527
-68.0
-92.6
Cash from financing
-363
-85.0
8.6
Depreciation and amortisation
47.2
51.0
49.3
-7.5%
Share-based compensation
n/a
131
125
Buybacks
15.5
0.3
0.4
+4,507.7%
Dividends paid
91.4
90.6
77.2
+0.9%
Dividend per share
$0.48
$0.63
$0.65
-23.8%
Diluted shares, weighted
265m
281m
117m
-5.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
464
334
317
+38.9%
Non-controlling interest
238
93.1
98.0
+156.0%
Redeemable equity
66.9
78.8
n/a
-15.1%
Debt
408
451
346
-9.5%
Other liabilities
901
681
645
+32.3%
Total liabilities and equity
2,079
1,639
1,405
+26.9%
Fixed assets
128
141
136
-9.6%
Goodwill
163
165
141
-0.9%
Intangible assets
18.2
20.3
17.0
-10.5%
Cash and equivalents
717
388
370
+84.6%
Other assets
1,053
924
741
+14.0%
Total assets
2,079
1,639
1,405
+26.9%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.