CMS Energy (CMS) FY2013 results: revenue $6.6 billion, up 5.0% on the year
CMS Energy Corp. (CMS) reported revenue of $6.6 billion for fiscal 2013, the year ended 31 December 2013, up 5.0% on the year before. Net income was $452 million, up 18.3%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2014.
Revenue
$6.6 billion
+5.0% on the year
FY2008FY2013
Operating margin
17.4%
16.0% a year earlier
FY2008FY2013
Net income
$452 million
+18.3% on the year
FY2008FY2013
Diluted EPS
$1.66
+16.9% 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
6,566
6,253
6,503
+5.0%
Operating income
1,142
1,003
1,003
+13.9%
Operating margin
17.4%
16.0%
15.4%
Interest expense
398
389
415
+2.3%
Pre-tax income
756
622
n/a
+21.5%
Income tax
302
245
191
+23.3%
Effective tax rate
39.9%
39.4%
n/a
Net income
452
382
415
+18.3%
Net margin
6.9%
6.1%
6.4%
Diluted EPS
$1.66
$1.42
$1.58
+16.9%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,421
1,241
1,169
+14.5%
Capital expenditure
1,325
1,227
882
+8.0%
Free cash flow
96.0
14.0
287
+585.7%
Free cash flow margin
1.5%
0.2%
4.4%
Cash from investing
-1,532
-1,350
-1,058
Cash from financing
190
41.0
-199
+363.4%
Depreciation and amortisation
628
598
546
+5.0%
Dividends paid
273
252
211
+8.3%
Dividend per share
$1.02
$0.96
$0.84
+6.3%
Diluted shares, weighted
272m
269m
263m
+1.2%
Shares outstanding at period end
266m
264m
254m
+0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,454
3,194
3,028
+8.1%
Non-controlling interest
37.0
44.0
44.0
-15.9%
Debt
7,833
7,361
7,073
+6.4%
Other liabilities
5,966
6,532
6,307
-8.7%
Total liabilities and equity
17,290
17,131
16,452
+0.9%
Fixed assets
12,246
n/a
n/a
Securities held for sale or to maturity
10.0
9.0
7.0
+11.1%
Cash and equivalents
172
93.0
161
+84.9%
Receivables
914
855
869
+6.9%
Other assets
3,948
16,174
15,415
-75.6%
Total assets
17,290
17,131
16,452
+0.9%
10-K for the year ended 31 December 2013, filed 6 February 2014: the filing.