Quest Diagnostics (DGX) FY2013 results: revenue $7.1 billion, down 3.2% on the year
Quest Diagnostics Inc. (DGX) reported revenue of $7.1 billion for fiscal 2013, the year ended 31 December 2013, down 3.2% on the year before. Net income was $849 million, up 52.8%, and diluted earnings per share $5.54. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$7.1 billion
-3.2% on the year
FY2007FY2013
Operating margin
20.6%
16.3% a year earlier
FY2007FY2013
Net income
$849 million
+52.8% on the year
FY2007FY2013
Diluted EPS
$5.54
+60.1% 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
7,146
7,383
7,392
-3.2%
Cost of revenue
4,326
4,365
4,363
-0.9%
Gross profit
2,820
3,018
3,029
-6.6%
Gross margin
39.5%
40.9%
41.0%
Selling, general and administrative
1,704
1,745
1,743
-2.4%
Operating income
1,475
1,201
987
+22.8%
Operating margin
20.6%
16.3%
13.4%
Interest expense
n/a
n/a
173
Pre-tax income
1,324
n/a
856
Income tax
500
402
355
+24.4%
Effective tax rate
37.8%
n/a
41.5%
Net income
849
556
471
+52.8%
Net margin
11.9%
7.5%
6.4%
Diluted EPS
$5.54
$3.46
$2.92
+60.1%
$ 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
652
1,187
895
-45.1%
Capital expenditure
231
182
161
+26.8%
Free cash flow
421
1,005
734
-58.1%
Free cash flow margin
5.9%
13.6%
9.9%
Cash from investing
328
-217
-1,243
Cash from financing
-1,106
-822
64.0
Depreciation and amortisation
283
287
281
-1.3%
Share-based compensation
28.0
50.0
71.9
-44.0%
Buybacks
1,037
200
935
+418.5%
Dividends paid
185
108
65.0
+71.1%
Dividend per share
$1.20
$0.81
$0.47
+48.1%
Diluted shares, weighted
153m
160m
160m
-4.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,948
4,163
3,693
-5.2%
Non-controlling interest
25.0
23.0
22.1
+8.7%
Redeemable equity
0.0
0.0
n/a
Debt
3,332
3,364
4,025
-0.9%
Other liabilities
1,643
1,734
1,573
-5.3%
Total liabilities and equity
8,948
9,284
9,313
-3.6%
Fixed assets
805
756
800
+6.5%
Goodwill
5,649
5,536
5,796
+2.0%
Intangible assets
896
872
1,036
+2.7%
Trading assets
n/a
52.3
n/a
Cash and equivalents
187
296
165
-36.7%
Receivables
852
867
906
-1.7%
Inventory
91.0
93.0
89.1
-2.2%
Other assets
468
812
522
-42.4%
Total assets
8,948
9,284
9,313
-3.6%
10-K for the year ended 31 December 2013, filed 18 February 2014: the filing.