Chevron (CVX) FY2013 results: revenue $228.8 billion, down 5.4% on the year
Chevron Corp. (CVX) reported revenue of $228.8 billion for fiscal 2013, the year ended 31 December 2013, down 5.4% on the year before. Net income was $21.4 billion, down 18.2%, and diluted earnings per share $11.09. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$228.8 billion
-5.4% on the year
FY2007FY2013
Operating margin
15.7%
19.2% a year earlier
FY2007FY2013
Net income
$21.4 billion
-18.2% on the year
FY2007FY2013
Diluted EPS
$11.09
-16.7% on the year
FY2007FY2013
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
228,848
241,909
253,706
-5.4%
Research and development
750
648
627
+15.7%
Selling, general and administrative
4,510
4,724
4,745
-4.5%
Operating income
35,905
46,332
47,634
-22.5%
Operating margin
15.7%
19.2%
18.8%
Interest expense
0.0
0.0
0.0
Pre-tax income
35,905
46,332
47,634
-22.5%
Income tax
14,308
19,996
20,626
-28.4%
Effective tax rate
39.8%
43.2%
43.3%
Net income
21,423
26,179
26,895
-18.2%
Net margin
9.4%
10.8%
10.6%
Diluted EPS
$11.09
$13.32
$13.44
-16.7%
$ 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
35,002
38,812
41,098
-9.8%
Capital expenditure
37,985
30,938
26,500
+22.8%
Free cash flow
-2,983
7,874
14,598
Free cash flow margin
-1.3%
3.3%
5.8%
Cash from investing
-35,609
-24,796
-27,489
Cash from financing
-3,821
-8,980
-11,772
Depreciation and amortisation
14,186
13,413
12,911
+5.8%
Buybacks
5,004
5,004
4,262
0.0%
Dividends paid
7,474
6,844
6,139
+9.2%
Diluted shares, weighted
1,932m
1,965m
2,001m
-1.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
149,113
136,524
121,382
+9.2%
Non-controlling interest
1,314
1,308
799
+0.5%
Debt
20,334
12,093
10,024
+68.1%
Other liabilities
82,992
83,057
77,269
-0.1%
Total liabilities and equity
253,753
232,982
209,474
+8.9%
Fixed assets
164,829
141,348
122,608
+16.6%
Goodwill
4,639
4,640
4,642
-0.0%
Investments
263
266
249
-1.1%
Cash and equivalents
16,245
20,939
15,864
-22.4%
Inventory
6,380
6,144
5,543
+3.8%
Other assets
61,397
59,645
60,568
+2.9%
Total assets
253,753
232,982
209,474
+8.9%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.