Expedia Group (EXPE) FY2012 results: revenue $4.0 billion, up 16.9% on the year
Expedia Group, Inc. (EXPE) reported revenue of $4.0 billion for fiscal 2012, the year ended 31 December 2012, up 16.9% on the year before. Net income was $280 million, down 40.7%, and diluted earnings per share $2.00. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2015.
Revenue
$4.0 billion
+16.9% on the year
FY2008FY2012
Operating margin
10.7%
13.9% a year earlier
FY2008FY2012
Net income
$280 million
-40.7% on the year
FY2008FY2012
Diluted EPS
$2.00
-41.3% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,030
3,449
3,034
+16.9%
Cost of revenue
899
761
685
+18.0%
Gross profit
3,132
2,688
2,348
+16.5%
Gross margin
77.7%
77.9%
77.4%
Operating income
432
480
501
-10.0%
Operating margin
10.7%
13.9%
16.5%
Interest expense
87.8
90.7
66.4
-3.2%
Pre-tax income
350
402
426
-12.9%
Income tax
47.1
75.7
120
-37.8%
Effective tax rate
13.4%
18.8%
28.3%
Net income
280
472
422
-40.7%
Net margin
7.0%
13.7%
13.9%
Diluted EPS
$2.00
$3.41
$2.92
-41.3%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,237
n/a
777
Capital expenditure
236
208
136
+13.4%
Free cash flow
1,001
n/a
641
Free cash flow margin
24.8%
n/a
21.1%
Cash from investing
n/a
n/a
-818
Cash from financing
n/a
n/a
132
Depreciation and amortisation
196
155
128
+26.5%
Share-based compensation
64.6
63.8
52.5
+1.2%
Buybacks
418
294
502
+42.0%
Dividends paid
130
76.5
79.1
+70.4%
Dividend per share
$0.96
$0.56
$0.56
+71.4%
Diluted shares, weighted
140m
139m
144m
+0.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,280
2,200
2,673
+3.7%
Non-controlling interest
109
105
64.2
+3.6%
Redeemable equity
13.5
14.0
29.8
-3.4%
Debt
1,249
1,249
1,249
+0.0%
Other liabilities
3,481
2,937
2,635
+18.5%
Total liabilities and equity
7,133
6,505
6,651
+9.6%
Fixed assets
409
320
246
+27.8%
Goodwill
3,016
2,877
2,865
+4.8%
Intangible assets
821
744
748
+10.4%
Investments
771
861
658
-10.4%
Cash and equivalents
1,293
689
621
+87.7%
Receivables
462
339
276
+36.0%
Other assets
361
674
1,237
-46.5%
Total assets
7,133
6,505
6,651
+9.6%
10-K for the year ended 31 December 2012, filed 6 February 2015: the filing.