Caterpillar (CAT) FY2013 results: revenue $55.7 billion, down 15.5% on the year
Caterpillar Inc. (CAT) reported revenue of $55.7 billion for fiscal 2013, the year ended 31 December 2013, down 15.5% on the year before. Net income was $6.6 billion, up 15.4%, and diluted earnings per share $9.95. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$55.7 billion
-15.5% on the year
FY2007FY2013
Operating margin
17.7%
13.0% a year earlier
FY2007FY2013
Net income
$6.6 billion
+15.4% on the year
FY2007FY2013
Diluted EPS
$9.95
+17.3% on the year
FY2007FY2013
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
55,656
65,875
60,138
-15.5%
Cost of revenue
38,432
47,055
43,578
-18.3%
Gross profit
17,224
18,820
16,560
-8.5%
Gross margin
30.9%
28.6%
27.5%
Research and development
1,552
2,466
2,297
-37.1%
Selling, general and administrative
4,122
5,919
5,203
-30.4%
Operating income
9,870
8,573
7,153
+15.1%
Operating margin
17.7%
13.0%
11.9%
Pre-tax income
9,371
8,236
6,725
+13.8%
Income tax
2,795
2,528
1,720
+10.6%
Effective tax rate
29.8%
30.7%
25.6%
Net income
6,556
5,681
4,928
+15.4%
Net margin
11.8%
8.6%
8.2%
Diluted EPS
$9.95
$8.48
$7.40
+17.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
10,191
5,184
6,957
+96.6%
Capital expenditure
2,522
3,350
2,515
-24.7%
Free cash flow
7,669
1,834
4,442
+318.2%
Free cash flow margin
13.8%
2.8%
7.4%
Depreciation and amortisation
3,087
2,813
2,527
+9.7%
Share-based compensation
231
245
193
-5.7%
Buybacks
2,000
0.0
0.0
Dividends paid
1,111
1,617
1,159
-31.3%
Dividend per share
$2.32
$2.02
$1.82
+14.9%
Diluted shares, weighted
659m
670m
666m
-1.6%
Shares outstanding at period end
638m
655m
648m
-2.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
20,878
17,582
12,929
+18.7%
Debt
37,750
40,143
34,592
-6.0%
Other liabilities
26,268
31,245
33,697
-15.9%
Total liabilities and equity
84,896
88,970
81,218
-4.6%
Fixed assets
17,075
16,461
14,395
+3.7%
Goodwill
6,956
6,942
7,080
+0.2%
Intangible assets
3,596
4,016
4,368
-10.5%
Receivables
8,413
9,706
10,057
-13.3%
Inventory
12,625
15,547
14,544
-18.8%
Other assets
36,231
36,298
30,774
-0.2%
Total assets
84,896
88,970
81,218
-4.6%
10-K for the year ended 31 December 2013, filed 18 February 2014: the filing.