Fidelity National Financial (FNF) FY2012 results: revenue $6.7 billion, up 38.9% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $6.7 billion for fiscal 2012, the year ended 31 December 2012, up 38.9% on the year before. Net income was $606 million, up 64.1%, and diluted earnings per share $2.68. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$6.7 billion
+38.9% on the year
FY2008FY2012
Operating margin
11.2%
8.4% a year earlier
FY2008FY2012
Net income
$606 million
+64.1% on the year
FY2008FY2012
Diluted EPS
$2.68
+61.4% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,668
4,800
5,413
+38.9%
Operating income
746
405
549
+84.2%
Operating margin
11.2%
8.4%
10.1%
Interest expense
64.0
57.0
46.2
+12.3%
Pre-tax income
746
405
549
+84.2%
Income tax
242
131
190
+84.7%
Effective tax rate
32.4%
32.3%
34.6%
Net income
606
370
370
+64.1%
Net margin
9.1%
7.7%
6.8%
Diluted EPS
$2.68
$1.66
$1.61
+61.4%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
620
110
188
+463.6%
Capital expenditure
79.0
36.0
53.9
+119.4%
Free cash flow
541
74.0
135
+631.1%
Free cash flow margin
8.1%
1.5%
2.5%
Cash from investing
-310
164
327
Cash from financing
52.0
-205
-186
Depreciation and amortisation
103
73.0
86.7
+41.1%
Share-based compensation
27.0
27.0
25.1
0.0%
Buybacks
38.0
86.0
118
-55.8%
Dividends paid
128
105
157
+21.8%
Dividend per share
$0.58
$0.48
$0.69
+20.8%
Diluted shares, weighted
226m
223m
229m
+1.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
4,268
3,633
3,427
+17.5%
Non-controlling interest
481
23.2
17.3
+1,973.7%
Redeemable equity
0.0
n/a
n/a
Deposits
528
420
388
+25.8%
Debt
1,344
916
952
+46.7%
Other liabilities
3,281
2,870
3,103
+14.3%
Total liabilities and equity
9,903
7,862
7,888
+26.0%
Fixed assets
628
166
180
+278.1%
Goodwill
1,908
1,452
1,471
+31.4%
Intangible assets
650
131
155
+397.7%
Securities held for sale or to maturity
3,140
3,200
3,494
-1.9%
Cash and equivalents
1,132
666
581
+70.0%
Other assets
2,444
2,247
2,007
+8.8%
Total assets
9,903
7,862
7,888
+26.0%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.