Salesforce (CRM) FY2013 results: revenue $3.1 billion, up 34.6% on the year
Salesforce, Inc. (CRM) reported revenue of $3.1 billion for fiscal 2013, the year ended 31 January 2013, up 34.6% on the year before. Net income was -$270 million, and diluted earnings per share $-0.48. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2013.
Revenue
$3.1 billion
+34.6% on the year
FY2008FY2013
Operating margin
-3.6%
-1.5% a year earlier
FY2008FY2013
Net income
-$270 million
FY2008FY2013
Diluted EPS
-$0.48
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
3,050
2,267
1,657
+34.6%
Cost of revenue
684
489
324
+39.8%
Gross profit
2,367
1,778
1,333
+33.1%
Gross margin
77.6%
78.4%
80.5%
Research and development
429
295
188
+45.4%
Operating income
-111
-35.1
97.5
Operating margin
-3.6%
-1.5%
5.9%
Interest expense
30.9
17.0
24.9
+81.6%
Pre-tax income
-128
-33.3
104
Income tax
143
-21.7
34.6
Effective tax rate
n/a
n/a
33.2%
Net income
-270
-11.6
64.5
Net margin
-8.9%
-0.5%
3.9%
Diluted EPS
-$0.48
-$0.02
$0.12
$ 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
737
592
459
+24.6%
Capital expenditure
176
152
90.9
+15.8%
Free cash flow
561
440
368
+27.6%
Free cash flow margin
18.4%
19.4%
22.2%
Cash from investing
-939
-490
-1,063
Cash from financing
335
75.8
14.1
+341.1%
Depreciation and amortisation
217
157
75.7
+37.8%
Share-based compensation
379
229
120
+65.5%
Diluted shares, weighted
565m
541m
546m
+4.4%
Shares outstanding at period end
586m
548m
532m
+6.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,318
1,587
1,276
+46.0%
Non-controlling interest
n/a
n/a
0.0
Redeemable equity
53.6
78.7
n/a
-31.9%
Debt
521
575
575
-9.3%
Other liabilities
2,636
1,923
1,240
+37.1%
Total liabilities and equity
5,529
4,164
3,091
+32.8%
Fixed assets
605
528
387
+14.5%
Goodwill
1,529
785
396
+94.7%
Intangible assets
49.4
46.1
31.7
+7.0%
Investments
1,011
840
983
+20.4%
Cash and equivalents
747
607
424
+23.0%
Receivables
873
684
427
+27.6%
Other assets
715
674
442
+6.1%
Total assets
5,529
4,164
3,091
+32.8%
10-K for the year ended 31 January 2013, filed 8 March 2013: the filing.