Blackstone (BX) FY2013 results: revenue $6.6 billion, up 64.5% on the year
Blackstone Inc. (BX) reported revenue of $6.6 billion for fiscal 2013, the year ended 31 December 2013, up 64.5% on the year before. Net income was $1.2 billion, up 435.8%, and diluted earnings per share $1.98. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$6.6 billion
+64.5% on the year
FY2008FY2013
Operating margin
41.5%
18.9% a year earlier
FY2008FY2013
Net income
$1.2 billion
+435.8% on the year
FY2008FY2013
Diluted EPS
$1.98
+382.9% on the year
FY2008FY2013
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
6,613
4,019
3,253
+64.5%
Operating income
2,746
759
-135
+262.0%
Operating margin
41.5%
18.9%
-4.2%
Interest expense
108
72.9
57.8
+48.2%
Pre-tax income
3,149
1,015
77.3
+210.2%
Income tax
256
185
346
+38.2%
Effective tax rate
8.1%
18.2%
447.5%
Net income
1,171
219
-168
+435.8%
Net margin
17.7%
5.4%
-5.2%
Diluted EPS
$1.98
$0.41
-$0.35
+382.9%
$ 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
3,548
583
1,100
+508.4%
Capital expenditure
25.6
37.0
36.5
-30.7%
Free cash flow
3,522
546
1,063
+545.0%
Free cash flow margin
53.3%
13.6%
32.7%
Cash from investing
-166
-223
-59.9
Cash from financing
-3,260
-405
-874
Depreciation and amortisation
129
173
239
-25.4%
Share-based compensation
855
950
1,396
-10.0%
Dividend per share
$1.18
$0.52
$0.62
+126.9%
Diluted shares, weighted
591m
539m
476m
+9.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Debt
10,783
13,194
8,969
-18.3%
Total liabilities and equity
29,679
28,932
21,909
+2.6%
Fixed assets
137
142
150
-3.7%
Goodwill
1,787
1,704
1,704
+4.9%
Intangible assets
561
599
595
-6.3%
Cash and equivalents
832
710
755
+17.3%
Other assets
26,361
25,778
18,706
+2.3%
Total assets
29,679
28,932
21,909
+2.6%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.