Devon Energy (DVN) FY2013 results: revenue $10.4 billion, up 9.4% on the year
Devon Energy Corp. (DVN) reported revenue of $10.4 billion for fiscal 2013, the year ended 31 December 2013, up 9.4% on the year before. Net income was -$20 million, and diluted earnings per share $-0.06. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$10.4 billion
+9.4% on the year
FY2007FY2013
Operating margin
5.5%
0.8% a year earlier
FY2007FY2013
Net income
-$20 million
FY2007FY2013
Diluted EPS
-$0.06
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
10,397
9,502
11,454
+9.4%
Operating income
567
74.0
4,632
+666.2%
Operating margin
5.5%
0.8%
40.4%
Interest expense
437
406
352
+7.6%
Pre-tax income
149
-317
4,290
Income tax
169
-132
2,156
Effective tax rate
113.4%
n/a
50.3%
Net income
-20.0
-206
4,704
Net margin
-0.2%
-2.2%
41.1%
Diluted EPS
-$0.06
-$0.52
$11.25
$ 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
5,436
4,956
6,224
+9.7%
Capital expenditure
256
8,225
7,534
-96.9%
Free cash flow
5,180
-3,269
-1,310
Free cash flow margin
49.8%
-34.4%
-11.4%
Cash from investing
-3,999
-7,526
-5,646
Cash from financing
20.0
1,629
1,691
-98.8%
Depreciation and amortisation
2,780
2,811
2,248
-1.1%
Share-based compensation
157
179
181
-12.3%
Buybacks
n/a
n/a
2,332
Dividends paid
348
324
278
+7.4%
Dividend per share
n/a
n/a
$0.67
Diluted shares, weighted
402m
400m
414m
+0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
20,499
21,278
21,430
-3.7%
Debt
12,022
11,644
9,780
+3.2%
Other liabilities
10,356
10,404
9,754
-0.5%
Total liabilities and equity
42,877
43,326
40,964
-1.0%
Fixed assets
28,447
27,316
24,774
+4.1%
Goodwill
5,858
6,079
6,013
-3.6%
Investments
n/a
2,343
1,503
Cash and equivalents
6,066
4,637
5,555
+30.8%
Receivables
1,520
1,245
1,379
+22.1%
Inventory
n/a
110
102
Other assets
986
1,596
1,638
-38.2%
Total assets
42,877
43,326
40,964
-1.0%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.