Fiserv (FISV) FY2013 results: revenue $4.8 billion, up 8.5% on the year
Fiserv Inc. (FISV) reported revenue of $4.8 billion for fiscal 2013, the year ended 31 December 2013, up 8.5% on the year before. Net income was $648 million, up 6.1%, and diluted earnings per share $1.22. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$4.8 billion
+8.5% on the year
FY2007FY2013
Operating margin
22.0%
23.6% a year earlier
FY2007FY2013
Net income
$648 million
+6.1% on the year
FY2007FY2013
Diluted EPS
$1.22
+9.9% 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
4,814
4,436
4,289
+8.5%
Cost of revenue
2,776
2,564
2,504
+8.3%
Gross profit
2,038
1,872
1,785
+8.9%
Gross margin
42.3%
42.2%
41.6%
Selling, general and administrative
977
824
795
+18.6%
Operating income
1,061
1,048
990
+1.2%
Operating margin
22.0%
23.6%
23.1%
Interest expense
163
174
188
-6.3%
Pre-tax income
898
881
723
+1.9%
Income tax
328
300
254
+9.3%
Effective tax rate
36.5%
34.1%
35.1%
Net income
648
611
472
+6.1%
Net margin
13.5%
13.8%
11.0%
Diluted EPS
$1.22
$1.11
$0.82
+9.9%
$ 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
1,028
865
936
+18.8%
Capital expenditure
236
193
190
+22.3%
Free cash flow
792
672
746
+17.9%
Free cash flow margin
16.5%
15.1%
17.4%
Depreciation and amortisation
403
350
345
+15.1%
Share-based compensation
46.0
44.0
39.0
+4.5%
Buybacks
578
634
533
-8.8%
Diluted shares, weighted
532m
550m
577m
-3.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,585
3,417
3,258
+4.9%
Deposits
n/a
n/a
114
Debt
3,848
3,230
3,395
+19.1%
Other liabilities
2,033
1,850
1,781
+9.9%
Total liabilities and equity
9,466
8,497
8,548
+11.4%
Fixed assets
266
248
258
+7.3%
Goodwill
5,216
4,705
4,706
+10.9%
Intangible assets
2,142
1,744
1,881
+22.8%
Cash and equivalents
400
358
337
+11.7%
Receivables
751
661
666
+13.6%
Other assets
691
781
700
-11.5%
Total assets
9,466
8,497
8,548
+11.4%
10-K for the year ended 31 December 2013, filed 20 February 2014: the filing.