Caterpillar (CAT) FY2010 results: revenue $42.6 billion, up 31.5% on the year
Caterpillar Inc. (CAT) reported revenue of $42.6 billion for fiscal 2010, the year ended 31 December 2010, up 31.5% on the year before. Net income was $2.7 billion, up 201.7%, and diluted earnings per share $4.15. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2012.
Revenue
$42.6 billion
+31.5% on the year
FY2007FY2010
Operating margin
9.3%
1.8% a year earlier
FY2007FY2010
Net income
$2.7 billion
+201.7% on the year
FY2007FY2010
Diluted EPS
$4.15
+190.2% on the year
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
42,588
32,396
51,324
+31.5%
Cost of revenue
30,367
23,886
38,415
+27.1%
Gross profit
12,221
8,510
12,909
+43.6%
Gross margin
28.7%
26.3%
25.2%
Research and development
1,905
1,421
1,728
+34.1%
Selling, general and administrative
4,248
3,645
4,399
+16.5%
Operating income
3,963
577
4,448
+586.8%
Operating margin
9.3%
1.8%
8.7%
Pre-tax income
3,750
569
4,501
+559.1%
Income tax
968
-270
953
Effective tax rate
25.8%
-47.5%
21.2%
Net income
2,700
895
3,557
+201.7%
Net margin
6.3%
2.8%
6.9%
Diluted EPS
$4.15
$1.43
$5.66
+190.2%
$ 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
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
5,009
6,499
4,672
-22.9%
Capital expenditure
1,575
1,504
2,320
+4.7%
Free cash flow
3,434
4,995
2,352
-31.3%
Free cash flow margin
8.1%
15.4%
4.6%
Cash from investing
-1,595
846
-6,171
Cash from financing
-4,613
-5,215
2,955
Depreciation and amortisation
2,296
2,336
1,980
-1.7%
Share-based compensation
226
132
194
+71.2%
Buybacks
n/a
0.0
1,800
Dividends paid
1,084
1,029
953
+5.3%
Dividend per share
$1.74
$1.68
$1.62
+3.6%
Diluted shares, weighted
650m
626m
628m
+3.9%
Shares outstanding at period end
639m
625m
602m
+2.3%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
10,864
8,823
6,190
+23.1%
Short-term borrowings
n/a
4,083
7,209
Debt
28,418
21,847
22,834
+30.1%
Other liabilities
24,738
25,285
31,549
-2.2%
Total liabilities and equity
64,020
60,038
67,782
+6.6%
Fixed assets
12,539
12,386
12,524
+1.2%
Goodwill
2,614
2,269
2,261
+15.2%
Intangible assets
805
465
511
+73.1%
Cash and equivalents
n/a
4,867
2,736
Receivables
8,494
5,611
9,397
+51.4%
Inventory
9,587
6,360
8,781
+50.7%
Other assets
29,981
28,080
31,572
+6.8%
Total assets
64,020
60,038
67,782
+6.6%
10-K for the year ended 31 December 2010, filed 21 February 2012: the filing.