Fortune Brands Innovations (FBIN) FY2013 results: revenue $3.7 billion, up 18.1% on the year
Fortune Brands Innovations, Inc. (FBIN) reported revenue of $3.7 billion for fiscal 2013, the year ended 31 December 2013, up 18.1% on the year before. Net income was $230 million, up 93.5%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$3.7 billion
+18.1% on the year
FY2009FY2013
Operating margin
8.7%
4.6% a year earlier
FY2009FY2013
Net income
$230 million
+93.5% on the year
FY2009FY2013
Diluted EPS
$1.34
+88.7% on the year
FY2009FY2013
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
3,704
3,135
3,329
+18.1%
Cost of revenue
2,408
2,093
2,332
+15.1%
Gross profit
1,295
1,042
996
+24.3%
Gross margin
35.0%
33.2%
29.9%
Research and development
50.8
41.7
35.1
+21.8%
Selling, general and administrative
939
873
901
+7.5%
Operating income
323
143
-15.6
+125.6%
Operating margin
8.7%
4.6%
-0.5%
Interest expense
7.2
8.5
3.2
-15.3%
Pre-tax income
310
135
-43.6
+129.7%
Income tax
102
26.9
-9.0
+277.3%
Effective tax rate
32.7%
19.9%
n/a
Net income
230
119
-35.6
+93.5%
Net margin
6.2%
3.8%
-1.1%
Diluted EPS
$1.34
$0.71
-$0.23
+88.7%
$ 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
298
283
175
+5.3%
Capital expenditure
96.7
75.0
68.5
+28.9%
Free cash flow
201
208
107
-3.2%
Free cash flow margin
5.4%
6.6%
3.2%
Cash from investing
-397
-86.7
-71.0
Cash from financing
4.1
15.7
-43.5
-73.9%
Depreciation and amortisation
86.6
97.6
112
-11.3%
Share-based compensation
26.1
26.9
15.7
-3.0%
Buybacks
52.1
8.8
n/a
+492.0%
Dividends paid
49.9
n/a
n/a
Dividend per share
$0.42
n/a
n/a
Diluted shares, weighted
171m
166m
155m
+3.1%
Shares outstanding at period end
n/a
n/a
156m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,649
2,381
2,121
+11.3%
Non-controlling interest
3.7
3.6
3.7
+2.8%
Debt
356
326
411
+9.4%
Other liabilities
1,169
1,164
1,103
+0.5%
Total liabilities and equity
4,178
3,874
3,638
+7.9%
Fixed assets
468
446
526
+5.1%
Goodwill
1,434
1,295
1,367
+10.7%
Intangible assets
629
684
703
-8.0%
Cash and equivalents
241
336
121
-28.2%
Receivables
403
382
346
+5.5%
Inventory
429
357
336
+20.1%
Other assets
574
374
239
+53.4%
Total assets
4,178
3,874
3,638
+7.9%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.