Emerson Electric (EMR) FY2011 results: revenue $24.2 billion, up 15.1% on the year
Emerson Electric Co. (EMR) reported revenue of $24.2 billion for fiscal 2011, the year ended 30 September 2011, up 15.1% on the year before. Net income was $2.5 billion, up 14.6%, and diluted earnings per share $3.27. The figures are the company's own, from the 10-K it filed with the SEC on 22 November 2011.
Revenue
$24.2 billion
+15.1% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$2.5 billion
+14.6% on the year
FY2007FY2011
Diluted EPS
$3.27
+15.1% 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
24,222
21,039
20,102
+15.1%
Cost of revenue
14,665
12,713
12,542
+15.4%
Gross profit
9,557
8,326
7,560
+14.8%
Gross margin
39.5%
39.6%
37.6%
Research and development
555
473
460
+17.3%
Selling, general and administrative
5,328
4,817
4,416
+10.6%
Pre-tax income
3,631
2,879
2,796
+26.1%
Income tax
1,127
848
688
+32.9%
Effective tax rate
31.0%
29.5%
24.6%
Net income
2,480
2,164
1,724
+14.6%
Net margin
10.2%
10.3%
8.6%
Diluted EPS
$3.27
$2.84
$2.27
+15.1%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,233
3,292
3,086
-1.8%
Capital expenditure
647
524
531
+23.5%
Free cash flow
2,586
2,768
2,555
-6.6%
Free cash flow margin
10.7%
13.2%
12.7%
Cash from investing
-848
-2,517
-1,309
Cash from financing
-1,887
-726
-1,948
Depreciation and amortisation
867
816
727
+6.2%
Share-based compensation
121
217
54.0
-44.2%
Buybacks
935
100
718
+835.0%
Dividends paid
1,039
1,009
998
+3.0%
Dividend per share
$1.38
$1.34
$1.32
+3.0%
Diluted shares, weighted
754m
757m
759m
-0.5%
Shares outstanding at period end
739m
753m
752m
-1.8%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
10,399
9,792
8,555
+6.2%
Non-controlling interest
152
160
151
-5.0%
Debt
5,201
5,066
4,564
+2.7%
Other liabilities
8,109
7,825
6,493
+3.6%
Total liabilities and equity
23,861
22,843
19,763
+4.5%
Fixed assets
3,437
3,287
3,500
+4.6%
Goodwill
8,771
8,656
7,078
+1.3%
Intangible assets
1,969
2,150
1,144
-8.4%
Cash and equivalents
2,052
1,592
1,560
+28.9%
Receivables
4,502
3,989
3,623
+12.9%
Inventory
2,100
2,105
1,855
-0.2%
Other assets
1,030
1,064
1,003
-3.2%
Total assets
23,861
22,843
19,763
+4.5%
10-K for the year ended 30 September 2011, filed 22 November 2011: the filing.