Chubb (CB) FY2013 results: revenue $19.3 billion, up 7.4% on the year
Chubb Ltd. (CB) reported revenue of $19.3 billion for fiscal 2013, the year ended 31 December 2013, up 7.4% on the year before. Net income was $3.8 billion, up 38.9%, and diluted earnings per share $10.92. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$19.3 billion
+7.4% on the year
FY2007FY2013
Operating margin
22.0%
16.6% a year earlier
FY2007FY2013
Net income
$3.8 billion
+38.9% on the year
FY2007FY2013
Diluted EPS
$10.92
+38.4% 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
19,261
17,936
16,834
+7.4%
Operating income
4,238
2,976
2,042
+42.4%
Operating margin
22.0%
16.6%
12.1%
Interest expense
275
250
250
+10.0%
Income tax
480
270
502
+77.8%
Net income
3,758
2,706
1,540
+38.9%
Net margin
19.5%
15.1%
9.1%
Diluted EPS
$10.92
$7.89
$4.52
+38.4%
$ 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
4,022
3,995
3,470
+0.7%
Cash from investing
-4,442
-3,439
-3,036
Cash from financing
391
-550
-565
Share-based compensation
n/a
n/a
27.0
Buybacks
287
11.0
195
+2,509.1%
Dividends paid
517
815
459
-36.6%
Dividend per share
$2.02
$2.06
$1.38
-1.9%
Diluted shares, weighted
344m
343m
341m
+0.4%
Shares outstanding at period end
340m
340m
337m
-0.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
28,825
27,531
24,332
+4.7%
Short-term borrowings
1,901
1,401
1,251
+35.7%
Debt
3,807
3,360
3,360
+13.3%
Other liabilities
59,977
60,253
58,378
-0.5%
Total liabilities and equity
94,510
92,545
87,321
+2.1%
Goodwill
4,603
4,319
4,148
+6.6%
Intangible assets
695
554
558
+25.5%
Securities held for sale or to maturity
55,352
54,576
50,414
+1.4%
Cash and equivalents
579
615
614
-5.9%
Other assets
33,281
32,481
31,587
+2.5%
Total assets
94,510
92,545
87,321
+2.1%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.