Firstenergy (FE) FY2011 results: revenue $16.1 billion, up 20.7% on the year
Firstenergy Corp. (FE) reported revenue of $16.1 billion for fiscal 2011, the year ended 31 December 2011, up 20.7% on the year before. Net income was $885 million, up 19.3%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2013.
Revenue
$16.1 billion
+20.7% on the year
FY2007FY2011
Operating margin
10.4%
13.1% a year earlier
FY2007FY2011
Net income
$885 million
+19.3% on the year
FY2007FY2011
Diluted EPS
$2.21
-8.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
16,105
13,339
12,967
+20.7%
Operating income
1,677
1,743
1,683
-3.8%
Operating margin
10.4%
13.1%
13.0%
Interest expense
1,008
n/a
n/a
Pre-tax income
1,422
1,180
1,040
+20.5%
Income tax
566
462
184
+22.5%
Effective tax rate
39.8%
39.2%
17.7%
Net income
885
742
872
+19.3%
Net margin
5.5%
5.6%
6.7%
Diluted EPS
$2.21
$2.42
$2.85
-8.7%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
3,063
3,076
2,465
-0.4%
Capital expenditure
2,129
1,780
2,203
+19.6%
Free cash flow
934
1,296
262
-27.9%
Free cash flow margin
5.8%
9.7%
2.0%
Cash from investing
-956
-1,948
-2,185
Cash from financing
-2,924
-983
49.0
Depreciation and amortisation
1,391
1,472
1,776
-5.5%
Share-based compensation
-10.0
-1.0
20.0
Buybacks
n/a
n/a
0.0
Dividends paid
881
670
670
+31.5%
Dividend per share
$2.20
$2.20
$2.20
0.0%
Diluted shares, weighted
401m
305m
306m
+31.5%
Shares outstanding at period end
418m
305m
305m
+37.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
13,280
8,984
8,559
+47.8%
Non-controlling interest
19.0
-32.0
-2.0
Short-term borrowings
n/a
n/a
1,081
Debt
17,337
14,765
12,008
+17.4%
Other liabilities
16,690
11,814
13,408
+41.3%
Total liabilities and equity
47,326
35,531
35,054
+33.2%
Fixed assets
30,337
20,510
19,164
+47.9%
Goodwill
6,441
5,575
5,575
+15.5%
Intangible assets
803
256
n/a
+213.7%
Investments
3,522
3,002
3,023
+17.3%
Cash and equivalents
202
1,019
874
-80.2%
Receivables
1,525
1,392
1,244
+9.6%
Inventory
811
638
647
+27.1%
Other assets
3,685
3,139
4,527
+17.4%
Total assets
47,326
35,531
35,054
+33.2%
10-K for the year ended 31 December 2011, filed 25 February 2013: the filing.