Dover (DOV) FY2013 results: revenue $7.2 billion, up 8.0% on the year
Dover Corp. (DOV) reported revenue of $7.2 billion for fiscal 2013, the year ended 31 December 2013, up 8.0% on the year before. Net income was $1.0 billion, up 23.7%, and diluted earnings per share $5.78. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$7.2 billion
+8.0% on the year
FY2007FY2013
Operating margin
16.2%
16.0% a year earlier
FY2007FY2013
Net income
$1.0 billion
+23.7% on the year
FY2007FY2013
Diluted EPS
$5.78
+31.1% 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
7,155
6,627
7,369
+8.0%
Cost of revenue
4,377
4,047
4,524
+8.2%
Gross profit
2,779
2,580
2,845
+7.7%
Gross margin
38.8%
38.9%
38.6%
Research and development
117
124
176
-5.2%
Selling, general and administrative
1,617
1,521
1,721
+6.3%
Operating income
1,162
1,059
1,124
+9.7%
Operating margin
16.2%
16.0%
15.3%
Pre-tax income
1,046
931
1,010
+12.3%
Income tax
248
281
237
-11.6%
Effective tax rate
23.8%
30.2%
23.5%
Net income
1,003
811
895
+23.7%
Net margin
14.0%
12.2%
12.1%
Diluted EPS
$5.78
$4.41
$4.74
+31.1%
$ 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
1,153
1,267
1,080
-9.0%
Capital expenditure
142
147
263
-3.3%
Free cash flow
1,011
1,120
817
-9.8%
Free cash flow margin
14.1%
16.9%
11.1%
Depreciation and amortisation
278
230
290
+20.9%
Share-based compensation
30.5
30.9
25.1
-1.3%
Buybacks
458
749
242
-38.9%
Dividends paid
248
241
219
+2.8%
Dividend per share
$1.45
$1.33
$1.18
+9.0%
Diluted shares, weighted
174m
184m
189m
-5.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
5,377
4,919
4,931
+9.3%
Debt
2,828
2,800
2,187
+1.0%
Other liabilities
2,632
2,725
2,384
-3.4%
Total liabilities and equity
10,838
10,444
9,501
+3.8%
Fixed assets
788
1,167
971
-32.5%
Goodwill
3,109
2,997
3,507
+3.7%
Intangible assets
1,259
1,625
1,185
-22.5%
Investments
0.0
0.0
0.0
Cash and equivalents
804
800
1,207
+0.5%
Receivables
1,077
1,226
1,119
-12.2%
Inventory
715
873
734
-18.0%
Other assets
3,087
1,755
780
+75.9%
Total assets
10,838
10,444
9,501
+3.8%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.