CMS Energy (CMS) FY2012 results: revenue $6.3 billion, down 3.8% on the year
CMS Energy Corp. (CMS) reported revenue of $6.3 billion for fiscal 2012, the year ended 31 December 2012, down 3.8% on the year before. Net income was $382 million, down 8.0%, and diluted earnings per share $1.42. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$6.3 billion
-3.8% on the year
FY2008FY2012
Operating margin
16.0%
15.4% a year earlier
FY2008FY2012
Net income
$382 million
-8.0% on the year
FY2008FY2012
Diluted EPS
$1.42
-10.1% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,253
6,503
6,432
-3.8%
Operating income
1,003
1,003
978
0.0%
Operating margin
16.0%
15.4%
15.2%
Interest expense
389
415
431
-6.3%
Pre-tax income
622
n/a
n/a
Income tax
245
191
224
+28.3%
Effective tax rate
39.4%
n/a
n/a
Net income
382
415
340
-8.0%
Net margin
6.1%
6.4%
5.3%
Diluted EPS
$1.42
$1.58
$1.28
-10.1%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,241
1,169
959
+6.2%
Capital expenditure
1,227
882
821
+39.1%
Free cash flow
14.0
287
138
-95.1%
Free cash flow margin
0.2%
4.4%
2.1%
Cash from investing
-1,350
-1,058
-1,003
Cash from financing
41.0
-199
202
Depreciation and amortisation
598
546
576
+9.5%
Dividends paid
252
211
162
+19.4%
Dividend per share
$0.96
$0.84
$0.66
+14.3%
Diluted shares, weighted
269m
263m
253m
+2.0%
Shares outstanding at period end
264m
254m
250m
+3.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,194
3,028
2,793
+5.5%
Non-controlling interest
44.0
44.0
44.0
0.0%
Debt
7,361
7,073
7,174
+4.1%
Other liabilities
6,532
6,307
5,605
+3.6%
Total liabilities and equity
17,131
16,452
15,616
+4.1%
Securities held for sale or to maturity
9.0
7.0
5.0
+28.6%
Cash and equivalents
93.0
161
247
-42.2%
Receivables
855
869
981
-1.6%
Other assets
16,174
15,415
14,383
+4.9%
Total assets
17,131
16,452
15,616
+4.1%
10-K for the year ended 31 December 2012, filed 21 February 2013: the filing.