C. H. Robinson Worldwide (CHRW) FY2013 results: revenue $12.8 billion, up 12.3% on the year
C. H. Robinson Worldwide, Inc. (CHRW) reported revenue of $12.8 billion for fiscal 2013, the year ended 31 December 2013, up 12.3% on the year before. Net income was $416 million, down 30.0%, and diluted earnings per share $2.65. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$12.8 billion
+12.3% on the year
FY2007FY2013
Operating margin
5.4%
5.9% a year earlier
FY2007FY2013
Net income
$416 million
-30.0% on the year
FY2007FY2013
Diluted EPS
$2.65
-27.8% 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
12,752
11,359
10,336
+12.3%
Cost of revenue
1,542
1,484
1,407
+3.9%
Gross profit
11,210
9,875
8,929
+13.5%
Gross margin
87.9%
86.9%
86.4%
Operating income
683
675
693
+1.1%
Operating margin
5.4%
5.9%
6.7%
Pre-tax income
673
958
695
-29.7%
Income tax
257
365
263
-29.4%
Effective tax rate
38.2%
38.0%
37.9%
Net income
416
594
432
-30.0%
Net margin
3.3%
5.2%
4.2%
Diluted EPS
$2.65
$3.67
$2.62
-27.8%
$ 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
348
460
430
-24.5%
Capital expenditure
40.4
36.1
35.9
+11.8%
Free cash flow
307
424
394
-27.5%
Free cash flow margin
2.4%
3.7%
3.8%
Cash from investing
-28.9
-359
-38.3
Cash from financing
-365
-264
-415
Depreciation and amortisation
56.9
38.1
32.5
+49.3%
Share-based compensation
9.1
59.4
38.6
-84.7%
Buybacks
757
245
241
+209.0%
Dividends paid
220
275
195
-20.0%
Dividend per share
$1.40
$1.34
$1.20
+4.5%
Diluted shares, weighted
157m
162m
165m
-3.0%
Shares outstanding at period end
150m
161m
163m
-6.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
940
1,504
1,248
-37.5%
Debt
875
254
0.0
+245.0%
Other liabilities
988
1,046
890
-5.6%
Total liabilities and equity
2,803
2,804
2,138
-0.1%
Fixed assets
161
150
127
+7.2%
Goodwill
829
822
360
+0.8%
Intangible assets
117
137
10.0
-14.5%
Investments
n/a
n/a
0.0
Cash and equivalents
162
210
374
-22.8%
Receivables
1,450
1,412
1,190
+2.7%
Other assets
83.9
72.6
78.2
+15.6%
Total assets
2,803
2,804
2,138
-0.1%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.