Corpay (CPAY) FY2013 results: revenue $895 million, up 26.5% on the year
Corpay, Inc. (CPAY) reported revenue of $895 million for fiscal 2013, the year ended 31 December 2013, up 26.5% on the year before. Net income was $285 million, up 31.6%, and diluted earnings per share $3.36. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$895 million
+26.5% on the year
FY2009FY2013
Operating margin
47.0%
45.9% a year earlier
FY2009FY2013
Net income
$285 million
+31.6% on the year
FY2009FY2013
Diluted EPS
$3.36
+33.3% on the year
FY2009FY2013
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
895
708
520
+26.5%
Cost of revenue
7.1
4.7
n/a
+51.1%
Gross profit
888
703
n/a
+26.4%
Gross margin
99.2%
99.3%
n/a
Operating income
421
325
226
+29.5%
Operating margin
47.0%
45.9%
43.6%
Interest expense
n/a
13.0
13.4
Pre-tax income
404
311
211
+29.9%
Income tax
119
94.6
63.5
+25.9%
Effective tax rate
29.5%
30.4%
30.1%
Net income
285
216
147
+31.6%
Net margin
31.8%
30.6%
28.4%
Diluted EPS
$3.36
$2.52
$1.76
+33.3%
$ 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
376
135
280
+177.3%
Capital expenditure
20.8
19.1
13.5
+8.8%
Free cash flow
355
116
266
+205.0%
Free cash flow margin
39.6%
16.4%
51.2%
Cash from investing
-749
-210
-347
Cash from financing
436
62.0
236
+602.9%
Depreciation and amortisation
72.7
52.0
36.2
+39.8%
Share-based compensation
26.7
19.3
21.7
+38.4%
Buybacks
n/a
200
0.4
Diluted shares, weighted
85m
86m
84m
-1.3%
Shares outstanding at period end
82m
81m
82m
+1.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,224
914
811
+33.9%
Deposits
183
188
180
-2.7%
Debt
1,486
925
704
+60.7%
Other liabilities
1,040
695
653
+49.5%
Total liabilities and equity
3,932
2,722
2,349
+44.5%
Fixed assets
54.0
45.2
32.7
+19.4%
Goodwill
1,536
927
761
+65.7%
Intangible assets
871
464
386
+87.8%
Cash and equivalents
338
284
285
+19.2%
Receivables
573
525
482
+9.1%
Other assets
560
477
403
+17.3%
Total assets
3,932
2,722
2,349
+44.5%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.