General Dynamics (GD) FY2013 results: revenue $30.9 billion, down 0.2% on the year
General Dynamics Corp. (GD) reported revenue of $30.9 billion for fiscal 2013, the year ended 31 December 2013, down 0.2% on the year before. Net income was $2.4 billion, and diluted earnings per share $6.67. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2014.
Revenue
$30.9 billion
-0.2% on the year
FY2007FY2013
Operating margin
11.9%
2.5% a year earlier
FY2007FY2013
Net income
$2.4 billion
FY2007FY2013
Diluted EPS
$6.67
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
30,930
30,992
32,677
-0.2%
Cost of revenue
25,454
28,404
26,821
-10.4%
Gross profit
n/a
n/a
5,856
Gross margin
n/a
n/a
17.9%
Research and development
n/a
1,607
1,539
Operating income
3,685
765
3,826
+381.7%
Operating margin
11.9%
2.5%
11.7%
Interest expense
103
168
155
-38.7%
Pre-tax income
3,607
473
3,718
+662.6%
Income tax
1,125
854
1,166
+31.7%
Effective tax rate
31.2%
180.5%
31.4%
Net income
2,357
-332
2,526
Net margin
7.6%
-1.1%
7.7%
Diluted EPS
$6.67
-$0.94
$6.87
$ 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
3,106
2,606
3,238
+19.2%
Capital expenditure
436
436
458
0.0%
Free cash flow
2,670
2,170
2,780
+23.0%
Free cash flow margin
8.6%
7.0%
8.5%
Cash from investing
-363
-642
-1,974
Cash from financing
-725
-1,382
-1,201
Depreciation and amortisation
525
590
592
-11.0%
Share-based compensation
120
114
128
+5.3%
Buybacks
740
602
1,468
+22.9%
Dividends paid
591
893
673
-33.8%
Diluted shares, weighted
353m
353m
368m
+0.0%
Shares outstanding at period end
353m
354m
356m
-0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
14,501
11,390
13,232
+27.3%
Debt
3,909
3,909
3,930
0.0%
Other liabilities
17,038
19,010
17,721
-10.4%
Total liabilities and equity
35,448
34,309
34,883
+3.3%
Fixed assets
3,359
3,403
3,284
-1.3%
Goodwill
11,932
12,003
13,576
-0.6%
Intangible assets
1,044
1,383
1,813
-24.5%
Cash and equivalents
5,301
3,296
2,649
+60.8%
Receivables
4,370
4,204
4,429
+3.9%
Inventory
2,890
2,776
2,310
+4.1%
Other assets
6,552
7,244
6,822
-9.6%
Total assets
35,448
34,309
34,883
+3.3%
10-K for the year ended 31 December 2013, filed 7 February 2014: the filing.