Comfort Systems USA (FIX) FY2013 results: revenue $1.4 billion, up 2.0% on the year
Comfort Systems USA Inc. (FIX) reported revenue of $1.4 billion for fiscal 2013, the year ended 31 December 2013, up 2.0% on the year before. Net income was $27 million, up 102.5%, and diluted earnings per share $0.73. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$1.4 billion
+2.0% on the year
FY2009FY2013
Operating margin
3.4%
1.7% a year earlier
FY2009FY2013
Net income
$27 million
+102.5% on the year
FY2009FY2013
Diluted EPS
$0.73
+102.8% 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
1,357
1,331
1,217
+2.0%
Cost of revenue
1,117
1,124
1,035
-0.5%
Gross profit
240
208
181
+15.5%
Gross margin
17.7%
15.6%
14.9%
Selling, general and administrative
194
186
167
+4.5%
Operating income
46.3
22.3
-42.6
+107.4%
Operating margin
3.4%
1.7%
-3.5%
Interest expense
1.4
1.6
1.9
-15.3%
Pre-tax income
46.8
21.5
-37.9
+117.2%
Income tax
18.1
10.0
-5.5
+80.7%
Effective tax rate
38.8%
46.6%
n/a
Net income
27.3
13.5
-36.8
+102.5%
Net margin
2.0%
1.0%
-3.0%
Diluted EPS
$0.73
$0.36
-$0.99
+102.8%
$ 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
38.4
30.5
29.7
+25.9%
Capital expenditure
17.4
11.8
8.7
+47.7%
Free cash flow
21.0
18.7
21.0
+12.2%
Free cash flow margin
1.5%
1.4%
1.7%
Cash from investing
-16.3
-23.2
-35.8
Cash from financing
-10.9
-17.8
-29.0
Depreciation and amortisation
18.6
20.6
20.1
-10.0%
Share-based compensation
4.0
2.8
3.6
+42.1%
Buybacks
1.8
2.9
7.3
-35.9%
Dividends paid
7.9
7.5
7.5
+5.0%
Dividend per share
$0.21
$0.20
$0.20
+5.0%
Diluted shares, weighted
38m
37m
37m
+0.7%
Shares outstanding at period end
38m
n/a
n/a
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
296
270
265
+9.4%
Non-controlling interest
18.2
16.9
18.5
+7.6%
Debt
2.0
7.4
15.4
-73.0%
Other liabilities
286
286
295
-0.1%
Total liabilities and equity
602
581
594
+3.6%
Fixed assets
46.9
41.4
41.7
+13.1%
Goodwill
115
115
107
0.0%
Intangible assets
37.4
44.5
48.3
-16.0%
Cash and equivalents
52.1
40.8
51.2
+27.7%
Receivables
267
257
260
+4.1%
Inventory
8.4
9.6
10.3
-12.5%
Other assets
75.0
72.9
75.1
+3.0%
Total assets
602
581
594
+3.6%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.