Expeditors International of Washington (EXPD) FY2013 results: revenue $6.1 billion, up 1.7% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $6.1 billion for fiscal 2013, the year ended 31 December 2013, up 1.7% on the year before. Net income was $349 million, up 4.5%, and diluted earnings per share $1.68. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$6.1 billion
+1.7% on the year
FY2007FY2013
Operating margin
9.1%
8.9% a year earlier
FY2007FY2013
Net income
$349 million
+4.5% on the year
FY2007FY2013
Diluted EPS
$1.68
+7.0% 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
6,080
5,981
6,150
+1.7%
Gross profit
n/a
1,824
1,896
Gross margin
n/a
30.5%
30.8%
Operating income
552
531
618
+4.0%
Operating margin
9.1%
8.9%
10.1%
Interest expense
n/a
1.3
1.0
Pre-tax income
573
550
638
+4.0%
Income tax
223
217
252
+2.4%
Effective tax rate
38.9%
39.5%
39.5%
Net income
349
333
386
+4.5%
Net margin
5.7%
5.6%
6.3%
Diluted EPS
$1.68
$1.57
$1.79
+7.0%
$ 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
408
370
457
+10.1%
Capital expenditure
53.4
47.6
78.1
+12.1%
Free cash flow
354
322
379
+9.8%
Free cash flow margin
5.8%
5.4%
6.2%
Cash from investing
-76.8
-47.0
-80.3
Cash from financing
-332
-363
-157
Depreciation and amortisation
48.1
39.9
36.8
+20.4%
Share-based compensation
43.8
44.1
44.3
-0.6%
Buybacks
262
302
112
-13.4%
Dividends paid
123
117
106
+5.1%
Dividend per share
$0.60
$0.56
$0.50
+7.1%
Diluted shares, weighted
207m
212m
215m
-2.4%
Shares outstanding at period end
203m
206m
212m
-1.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,085
2,028
2,004
+2.8%
Non-controlling interest
1.5
4.9
6.4
-68.2%
Debt
0.0
0.0
0.0
Other liabilities
928
922
857
+0.8%
Total liabilities and equity
3,015
2,954
2,867
+2.1%
Fixed assets
563
556
539
+1.2%
Goodwill
7.9
7.9
7.9
0.0%
Intangible assets
n/a
n/a
2.6
Investments
26.3
0.1
0.5
+18,847.5%
Cash and equivalents
1,248
1,261
1,294
-1.0%
Receivables
1,074
1,031
935
+4.1%
Other assets
96.3
97.6
87.9
-1.3%
Total assets
3,015
2,954
2,867
+2.1%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.