Chevron (CVX) FY2011 results: revenue $253.7 billion, up 23.8% on the year
Chevron Corp. (CVX) reported revenue of $253.7 billion for fiscal 2011, the year ended 31 December 2011, up 23.8% on the year before. Net income was $26.9 billion, up 41.4%, and diluted earnings per share $13.44. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$253.7 billion
+23.8% on the year
FY2007FY2011
Operating margin
18.8%
15.6% a year earlier
FY2007FY2011
Net income
$26.9 billion
+41.4% on the year
FY2007FY2011
Diluted EPS
$13.44
+41.8% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
253,706
204,928
171,636
+23.8%
Research and development
627
526
603
+19.2%
Selling, general and administrative
4,745
4,767
4,527
-0.5%
Operating income
47,634
32,055
18,528
+48.6%
Operating margin
18.8%
15.6%
10.8%
Interest expense
0.0
50.0
28.0
Pre-tax income
47,634
32,055
18,528
+48.6%
Income tax
20,626
12,919
7,965
+59.7%
Effective tax rate
43.3%
40.3%
43.0%
Net income
26,895
19,024
10,483
+41.4%
Net margin
10.6%
9.3%
6.1%
Diluted EPS
$13.44
$9.48
$5.24
+41.8%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
41,098
31,359
19,373
+31.1%
Capital expenditure
26,500
19,612
19,843
+35.1%
Free cash flow
14,598
11,747
-470
+24.3%
Free cash flow margin
5.8%
5.7%
-0.3%
Cash from investing
-27,489
-20,915
-16,572
Cash from financing
-11,772
-5,170
-3,546
Depreciation and amortisation
12,911
13,063
12,110
-1.2%
Buybacks
4,262
775
n/a
+449.9%
Dividends paid
6,139
5,674
5,302
+8.2%
Diluted shares, weighted
2,001m
2,007m
2,001m
-0.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
121,382
105,081
91,914
+15.5%
Non-controlling interest
799
730
647
+9.5%
Short-term borrowings
n/a
n/a
384
Debt
10,024
11,190
5,705
-10.4%
Other liabilities
77,269
67,768
65,971
+14.0%
Total liabilities and equity
209,474
184,769
164,621
+13.4%
Fixed assets
122,608
104,504
96,468
+17.3%
Goodwill
4,642
4,617
4,618
+0.5%
Investments
249
155
106
+60.6%
Cash and equivalents
15,864
14,060
8,716
+12.8%
Inventory
5,543
5,493
5,529
+0.9%
Other assets
60,568
55,940
49,184
+8.3%
Total assets
209,474
184,769
164,621
+13.4%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.