FedEx (FDX) FY2013 results: revenue $44.3 billion, up 3.8% on the year
FedEx Corp. (FDX) reported revenue of $44.3 billion for fiscal 2013, the year ended 31 May 2013, up 3.8% on the year before. Net income was $2.7 billion, up 33.7%, and diluted earnings per share $8.55. The figures are the company's own, from the 10-K it filed with the SEC on 15 July 2013.
Revenue
$44.3 billion
+3.8% on the year
FY2008FY2013
Operating margin
10.0%
7.5% a year earlier
FY2008FY2013
Net income
$2.7 billion
+33.7% on the year
FY2008FY2013
Diluted EPS
$8.55
+33.4% 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
44,287
42,680
39,304
+3.8%
Operating income
4,434
3,186
2,378
+39.2%
Operating margin
10.0%
7.5%
6.1%
Interest expense
82.0
52.0
86.0
+57.7%
Pre-tax income
4,338
3,141
2,265
+38.1%
Income tax
1,622
1,109
813
+46.3%
Effective tax rate
37.4%
35.3%
35.9%
Net income
2,716
2,032
1,452
+33.7%
Net margin
6.1%
4.8%
3.7%
Diluted EPS
$8.55
$6.41
$4.57
+33.4%
$ 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
4,688
4,835
4,041
-3.0%
Capital expenditure
3,375
4,007
3,434
-15.8%
Free cash flow
1,313
828
607
+58.6%
Free cash flow margin
3.0%
1.9%
1.5%
Cash from investing
-3,803
-4,049
-3,419
Cash from financing
1,184
-244
-287
Depreciation and amortisation
2,386
2,113
1,973
+12.9%
Share-based compensation
109
105
98.0
+3.8%
Buybacks
246
197
n/a
+24.9%
Dividends paid
177
164
151
+7.9%
Dividend per share
$0.56
$0.52
$0.48
+7.7%
Diluted shares, weighted
317m
317m
317m
0.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
17,398
14,727
15,220
+18.1%
Debt
3,000
1,667
1,539
+80.0%
Other liabilities
13,169
13,509
10,626
-2.5%
Total liabilities and equity
33,567
29,903
27,385
+12.3%
Fixed assets
18,484
17,248
15,543
+7.2%
Goodwill
2,755
2,387
2,326
+15.4%
Intangible assets
72.0
34.0
38.0
+111.8%
Cash and equivalents
4,917
2,843
2,328
+73.0%
Receivables
5,044
4,704
4,581
+7.2%
Other assets
2,295
2,687
2,569
-14.6%
Total assets
33,567
29,903
27,385
+12.3%
10-K for the year ended 31 May 2013, filed 15 July 2013: the filing.