Caterpillar (CAT) FY2012 results: revenue $65.9 billion, up 9.5% on the year
Caterpillar Inc. (CAT) reported revenue of $65.9 billion for fiscal 2012, the year ended 31 December 2012, up 9.5% on the year before. Net income was $5.7 billion, up 15.3%, and diluted earnings per share $8.48. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2013.
Revenue
$65.9 billion
+9.5% on the year
FY2007FY2012
Operating margin
13.0%
11.9% a year earlier
FY2007FY2012
Net income
$5.7 billion
+15.3% on the year
FY2007FY2012
Diluted EPS
$8.48
+14.6% 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
65,875
60,138
42,588
+9.5%
Cost of revenue
47,055
43,578
30,367
+8.0%
Gross profit
18,820
16,560
12,221
+13.6%
Gross margin
28.6%
27.5%
28.7%
Research and development
2,466
2,297
1,905
+7.4%
Selling, general and administrative
5,919
5,203
4,248
+13.8%
Operating income
8,573
7,153
3,963
+19.9%
Operating margin
13.0%
11.9%
9.3%
Pre-tax income
8,236
6,725
3,750
+22.5%
Income tax
2,528
1,720
968
+47.0%
Effective tax rate
30.7%
25.6%
25.8%
Net income
5,681
4,928
2,700
+15.3%
Net margin
8.6%
8.2%
6.3%
Diluted EPS
$8.48
$7.40
$4.15
+14.6%
$ 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
5,184
6,957
5,009
-25.5%
Capital expenditure
3,350
2,515
1,575
+33.2%
Free cash flow
1,834
4,442
3,434
-58.7%
Free cash flow margin
2.8%
7.4%
8.1%
Cash from investing
n/a
n/a
-1,595
Cash from financing
n/a
n/a
-4,613
Depreciation and amortisation
2,813
2,527
2,296
+11.3%
Share-based compensation
245
193
226
+26.9%
Buybacks
0.0
0.0
n/a
Dividends paid
1,617
1,159
1,084
+39.5%
Dividend per share
$2.02
$1.82
$1.74
+11.0%
Diluted shares, weighted
670m
666m
650m
+0.5%
Shares outstanding at period end
655m
648m
639m
+1.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
17,582
12,929
10,864
+36.0%
Debt
40,143
34,592
28,418
+16.0%
Other liabilities
31,245
33,697
24,738
-7.3%
Total liabilities and equity
88,970
81,218
64,020
+9.5%
Fixed assets
16,461
14,395
12,539
+14.4%
Goodwill
6,942
7,080
2,614
-1.9%
Intangible assets
4,016
4,368
805
-8.1%
Receivables
9,706
10,057
8,494
-3.5%
Inventory
15,547
14,544
9,587
+6.9%
Other assets
36,298
30,774
29,981
+18.0%
Total assets
88,970
81,218
64,020
+9.5%
10-K for the year ended 31 December 2012, filed 19 February 2013: the filing.