Expedia Group (EXPE) FY2013 results: revenue $4.8 billion, up 18.4% on the year
Expedia Group, Inc. (EXPE) reported revenue of $4.8 billion for fiscal 2013, the year ended 31 December 2013, up 18.4% on the year before. Net income was $233 million, down 16.9%, and diluted earnings per share $1.67. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2014.
Revenue
$4.8 billion
+18.4% on the year
FY2008FY2013
Operating margin
7.7%
10.7% a year earlier
FY2008FY2013
Net income
$233 million
-16.9% on the year
FY2008FY2013
Diluted EPS
$1.67
-16.5% on the year
FY2008FY2013
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
4,771
4,030
3,449
+18.4%
Cost of revenue
1,038
899
761
+15.5%
Gross profit
3,733
3,132
2,688
+19.2%
Gross margin
78.2%
77.7%
77.9%
Operating income
366
432
480
-15.2%
Operating margin
7.7%
10.7%
13.9%
Interest expense
87.4
87.8
90.7
-0.5%
Pre-tax income
301
350
402
-14.1%
Income tax
84.3
47.1
75.7
+79.1%
Effective tax rate
28.0%
13.4%
18.8%
Net income
233
280
472
-16.9%
Net margin
4.9%
7.0%
13.7%
Diluted EPS
$1.67
$2.00
$3.41
-16.5%
$ 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
763
1,237
n/a
-38.3%
Capital expenditure
309
236
208
+30.9%
Free cash flow
455
1,001
n/a
-54.6%
Free cash flow margin
9.5%
24.8%
n/a
Depreciation and amortisation
283
196
155
+44.7%
Share-based compensation
130
64.6
63.8
+101.5%
Buybacks
523
418
294
+25.2%
Dividends paid
75.8
130
76.5
-41.9%
Dividend per share
$0.56
$0.96
$0.56
-41.7%
Diluted shares, weighted
140m
140m
139m
-0.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,145
2,280
2,200
-5.9%
Non-controlling interest
114
109
105
+4.0%
Redeemable equity
365
13.5
14.0
+2,608.2%
Debt
1,249
1,249
1,249
+0.0%
Other liabilities
3,866
3,481
2,937
+11.1%
Total liabilities and equity
7,739
7,133
6,505
+8.5%
Fixed assets
481
409
320
+17.4%
Goodwill
3,664
3,016
2,877
+21.5%
Intangible assets
1,111
821
744
+35.3%
Investments
459
771
861
-40.5%
Cash and equivalents
1,021
1,293
689
-21.0%
Receivables
615
462
339
+33.2%
Other assets
390
361
674
+8.1%
Total assets
7,739
7,133
6,505
+8.5%
10-K for the year ended 31 December 2013, filed 7 February 2014: the filing.