Cabot (CBT) FY2013 results: revenue $3.5 billion, up 5.0% on the year
Cabot Corp. (CBT) reported revenue of $3.5 billion for fiscal 2013, the year ended 30 September 2013, up 5.0% on the year before. Net income was $153 million, down 60.6%, and diluted earnings per share $2.36. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2013.
Revenue
$3.5 billion
+5.0% on the year
FY2008FY2013
Operating margin
7.8%
8.8% a year earlier
FY2008FY2013
Net income
$153 million
-60.6% on the year
FY2008FY2013
Diluted EPS
$2.36
-60.6% on the year
FY2008FY2013
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
3,456
3,291
3,102
+5.0%
Cost of revenue
2,827
2,652
2,544
+6.6%
Gross profit
633
644
558
-1.7%
Gross margin
18.3%
19.6%
18.0%
Research and development
68.0
72.0
66.0
-5.6%
Selling, general and administrative
297
281
249
+5.7%
Operating income
268
291
243
-7.9%
Operating margin
7.8%
8.8%
7.8%
Interest expense
62.0
46.0
39.0
+34.8%
Pre-tax income
210
245
203
-14.3%
Income tax
60.0
55.0
6.0
+9.1%
Effective tax rate
28.6%
22.4%
3.0%
Net income
153
388
236
-60.6%
Net margin
4.4%
11.8%
7.6%
Diluted EPS
$2.36
$5.99
$3.57
-60.6%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
419
415
195
+1.0%
Capital expenditure
264
281
230
-6.0%
Free cash flow
155
134
-35.0
+15.7%
Free cash flow margin
4.5%
4.1%
-1.1%
Cash from investing
-227
-1,180
-232
Cash from financing
-206
606
-72.0
Depreciation and amortisation
190
154
142
+23.4%
Share-based compensation
16.0
18.0
19.0
-11.1%
Buybacks
6.0
36.0
59.0
-83.3%
Dividends paid
51.0
49.0
47.0
+4.1%
Dividend per share
$0.80
$0.76
$0.72
+5.3%
Diluted shares, weighted
64m
64m
65m
+0.5%
Shares outstanding at period end
64m
63m
64m
+1.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,951
1,813
1,487
+7.6%
Non-controlling interest
132
126
129
+4.8%
Debt
1,298
1,419
699
-8.5%
Other liabilities
852
1,041
826
-18.2%
Total liabilities and equity
4,233
4,399
3,141
-3.8%
Fixed assets
1,600
1,547
1,036
+3.4%
Goodwill
502
478
40.0
+5.0%
Intangible assets
308
330
3.0
-6.7%
Cash and equivalents
95.0
120
286
-20.8%
Inventory
455
533
393
-14.6%
Other assets
1,273
1,391
1,383
-8.5%
Total assets
4,233
4,399
3,141
-3.8%
10-K for the year ended 30 September 2013, filed 27 November 2013: the filing.