Ford Motor (F) FY2013 results: revenue $146.9 billion, up 10.0% on the year
Ford Motor Co. (F) reported revenue of $146.9 billion for fiscal 2013, the year ended 31 December 2013, up 10.0% on the year before. Net income was $12.0 billion, up 113.0%, and diluted earnings per share $2.94. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$146.9 billion
+10.0% on the year
FY2007FY2013
Operating margin
8.7%
4.2% a year earlier
FY2007FY2013
Net income
$12.0 billion
+113.0% on the year
FY2007FY2013
Diluted EPS
$2.94
+108.5% 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
146,917
133,559
135,605
+10.0%
Cost of revenue
120,190
113,039
113,611
+6.3%
Gross profit
26,727
20,520
21,994
+30.2%
Gross margin
18.2%
15.4%
16.2%
Research and development
6,200
5,500
5,300
+12.7%
Selling, general and administrative
10,850
11,529
10,884
-5.9%
Operating income
12,809
5,598
7,532
+128.8%
Operating margin
8.7%
4.2%
5.6%
Interest expense
3,689
3,828
4,431
-3.6%
Pre-tax income
14,371
7,638
8,681
+88.2%
Income tax
2,425
2,026
-11,541
+19.7%
Effective tax rate
16.9%
26.5%
-132.9%
Net income
11,953
5,613
20,213
+113.0%
Net margin
8.1%
4.2%
14.9%
Diluted EPS
$2.94
$1.41
$4.94
+108.5%
$ 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
10,444
9,045
9,784
+15.5%
Capital expenditure
6,597
5,488
4,293
+20.2%
Free cash flow
3,847
3,557
5,491
+8.2%
Free cash flow margin
2.6%
2.7%
4.0%
Depreciation and amortisation
6,504
5,486
4,717
+18.6%
Share-based compensation
159
140
171
+13.6%
Buybacks
213
125
0.0
+70.4%
Dividends paid
1,574
763
0.0
+106.3%
Dividend per share
$0.40
$0.15
$0.05
+166.7%
Diluted shares, weighted
4,087m
4,015m
4,111m
+1.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
26,140
15,882
14,778
+64.6%
Non-controlling interest
33.0
42.0
43.0
-21.4%
Redeemable equity
331
322
0.0
+2.8%
Other liabilities
175,522
173,160
162,565
+1.4%
Total liabilities and equity
202,026
189,406
177,386
+6.7%
Fixed assets
27,616
24,942
22,371
+10.7%
Intangible assets
85.0
87.0
100
-2.3%
Cash and equivalents
14,468
15,659
17,148
-7.6%
Inventory
7,708
7,362
5,901
+4.7%
Other assets
152,149
141,521
131,866
+7.5%
Total assets
202,026
189,571
177,386
+6.6%
10-K for the year ended 31 December 2013, filed 18 February 2014: the filing.