Cabot (CBT) FY2011 results: revenue $3.1 billion, up 14.2% on the year
Cabot Corp. (CBT) reported revenue of $3.1 billion for fiscal 2011, the year ended 30 September 2011, up 14.2% on the year before. Net income was $236 million, up 53.2%, and diluted earnings per share $3.57. The figures are the company's own, from the 10-K it filed with the SEC on 29 November 2011.
Revenue
$3.1 billion
+14.2% on the year
FY2008FY2011
Operating margin
7.8%
7.5% a year earlier
FY2008FY2011
Net income
$236 million
+53.2% on the year
FY2008FY2011
Diluted EPS
$3.57
+51.9% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
3,102
2,716
2,108
+14.2%
Cost of revenue
2,544
2,206
1,891
+15.3%
Gross profit
558
510
217
+9.4%
Gross margin
18.0%
18.8%
10.3%
Research and development
66.0
65.0
66.0
+1.5%
Selling, general and administrative
249
241
205
+3.3%
Operating income
243
204
-54.0
+19.1%
Operating margin
7.8%
7.5%
-2.6%
Interest expense
39.0
40.0
30.0
-2.5%
Pre-tax income
203
166
-99.0
+22.3%
Income tax
6.0
30.0
-21.0
-80.0%
Effective tax rate
3.0%
18.1%
n/a
Net income
236
154
-77.0
+53.2%
Net margin
7.6%
5.7%
-3.7%
Diluted EPS
$3.57
$2.35
-$1.25
+51.9%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
195
249
399
-21.7%
Capital expenditure
230
108
106
+113.0%
Free cash flow
-35.0
141
293
Free cash flow margin
-1.1%
5.2%
13.9%
Cash from investing
-232
-112
-105
Cash from financing
-72.0
-57.0
-127
Depreciation and amortisation
142
137
164
+3.6%
Share-based compensation
19.0
27.0
27.0
-29.6%
Buybacks
59.0
5.0
2.0
+1,080.0%
Dividends paid
47.0
47.0
48.0
0.0%
Dividend per share
$0.72
$0.72
$0.72
0.0%
Diluted shares, weighted
65m
64m
63m
+2.2%
Shares outstanding at period end
64m
65m
65m
-2.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
1,487
1,302
1,134
+14.2%
Non-controlling interest
129
115
103
+12.2%
Short-term borrowings
n/a
n/a
29.0
Debt
699
652
628
+7.2%
Other liabilities
826
817
782
+1.1%
Total liabilities and equity
3,141
2,886
2,676
+8.8%
Fixed assets
1,036
937
1,012
+10.6%
Goodwill
40.0
39.0
37.0
+2.6%
Intangible assets
3.0
4.0
2.0
-25.0%
Investments
n/a
n/a
2.0
Cash and equivalents
286
387
304
-26.1%
Inventory
393
307
358
+28.0%
Other assets
1,383
1,212
961
+14.1%
Total assets
3,141
2,886
2,676
+8.8%
10-K for the year ended 30 September 2011, filed 29 November 2011: the filing.