Bristol-Myers Squibb (BMY) FY2012 results: revenue $17.6 billion, down 17.1% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $17.6 billion for fiscal 2012, the year ended 31 December 2012, down 17.1% on the year before. Net income was $2.0 billion, down 47.2%, and diluted earnings per share $1.16. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2013.
Revenue
$17.6 billion
-17.1% on the year
FY2007FY2012
Operating margin
13.3%
32.9% a year earlier
FY2007FY2012
Net income
$2.0 billion
-47.2% on the year
FY2007FY2012
Diluted EPS
$1.16
-46.3% 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
17,621
21,244
19,484
-17.1%
Cost of revenue
4,610
5,598
5,277
-17.6%
Gross profit
13,011
15,646
14,207
-16.8%
Gross margin
73.8%
73.6%
72.9%
Research and development
3,904
3,839
3,566
+1.7%
Selling, general and administrative
4,220
4,203
3,686
+0.4%
Operating income
2,340
6,981
6,071
-66.5%
Operating margin
13.3%
32.9%
31.2%
Interest expense
182
145
145
+25.5%
Pre-tax income
2,340
6,981
6,071
-66.5%
Income tax
-161
1,721
1,558
Effective tax rate
-6.9%
24.7%
25.7%
Net income
1,960
3,709
3,102
-47.2%
Net margin
11.1%
17.5%
15.9%
Diluted EPS
$1.16
$2.16
$1.79
-46.3%
$ 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
6,941
4,840
4,491
+43.4%
Capital expenditure
548
367
424
+49.3%
Free cash flow
6,393
4,473
4,067
+42.9%
Free cash flow margin
36.3%
21.1%
20.9%
Cash from investing
-6,727
-1,437
-3,812
Cash from financing
-4,333
-2,657
-3,343
Depreciation and amortisation
681
628
607
+8.4%
Share-based compensation
154
161
193
-4.3%
Buybacks
2,403
1,221
576
+96.8%
Dividends paid
2,286
2,254
2,202
+1.4%
Dividend per share
$1.37
$1.33
$1.29
+3.0%
Diluted shares, weighted
1,688m
1,717m
1,727m
-1.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
13,623
15,956
15,713
-14.6%
Non-controlling interest
15.0
-89.0
-75.0
Debt
7,394
5,491
5,445
+34.7%
Other liabilities
14,865
11,612
9,993
+28.0%
Total liabilities and equity
35,897
32,970
31,076
+8.9%
Fixed assets
5,333
4,521
4,664
+18.0%
Goodwill
7,635
5,586
5,233
+36.7%
Intangible assets
8,778
3,124
3,370
+181.0%
Investments
4,696
5,866
4,949
-19.9%
Cash and equivalents
1,656
5,776
5,033
-71.3%
Receivables
1,708
2,250
1,985
-24.1%
Inventory
1,657
1,384
1,204
+19.7%
Other assets
4,434
4,463
4,638
-0.6%
Total assets
35,897
32,970
31,076
+8.9%
10-K for the year ended 31 December 2012, filed 15 February 2013: the filing.