General Electric (GE) FY2013 results: revenue $113.2 billion, down 11.5% on the year
General Electric Co. (GE) reported revenue of $113.2 billion for fiscal 2013, the year ended 31 December 2013, down 11.5% on the year before. Net income was $13.1 billion, down 4.3%, and diluted earnings per share $10.16. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$113.2 billion
-11.5% on the year
FY2007FY2013
Operating margin
8.0%
17.9% a year earlier
FY2007FY2013
Net income
$13.1 billion
-4.3% on the year
FY2007FY2013
Diluted EPS
$10.16
-1.6% 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
113,245
127,891
146,542
-11.5%
Cost of revenue
79,841
74,310
68,278
+7.4%
Gross profit
33,404
53,581
78,264
-37.7%
Gross margin
29.5%
41.9%
53.4%
Research and development
5,461
5,200
4,601
+5.0%
Selling, general and administrative
17,945
n/a
n/a
Operating income
9,100
22,887
20,652
-60.2%
Operating margin
8.0%
17.9%
14.1%
Interest expense
n/a
12,508
14,545
Pre-tax income
9,100
14,561
20,159
-37.5%
Income tax
1,219
2,526
5,745
-51.7%
Effective tax rate
13.4%
17.3%
28.5%
Net income
13,057
13,641
14,151
-4.3%
Net margin
11.5%
10.7%
9.7%
Diluted EPS
$10.16
$10.32
$9.84
-1.6%
$ 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
28,510
31,331
33,359
-9.0%
Capital expenditure
6,754
8,326
12,650
-18.9%
Free cash flow
21,756
23,005
20,709
-5.4%
Free cash flow margin
19.2%
18.0%
14.1%
Cash from investing
29,117
11,302
19,882
+157.6%
Cash from financing
-45,573
-51,074
-46,863
Depreciation and amortisation
6,581
10,804
10,730
-39.1%
Buybacks
-10,225
-5,005
n/a
Dividends paid
7,821
7,189
6,458
+8.8%
Dividend per share
$6.32
$5.60
$4.88
+12.9%
Diluted shares, weighted
1,286m
1,320m
1,324m
-2.6%
Shares outstanding at period end
1,258m
1,301m
1,322m
-3.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
130,566
123,026
116,438
+6.1%
Non-controlling interest
6,217
5,444
1,696
+14.2%
Redeemable equity
178
178
n/a
0.0%
Deposits
38,171
46,200
43,115
-17.4%
Debt
329,679
367,599
410,328
-10.3%
Other liabilities
158,436
142,881
145,665
+10.9%
Total liabilities and equity
663,247
685,328
717,242
-3.2%
Fixed assets
50,507
68,633
65,739
-26.4%
Goodwill
53,137
58,762
72,297
-9.6%
Intangible assets
13,867
11,987
12,068
+15.7%
Cash and equivalents
n/a
n/a
84,501
Receivables
21,388
19,902
20,478
+7.5%
Inventory
17,325
15,374
13,792
+12.7%
Other assets
507,023
510,670
448,367
-0.7%
Total assets
663,247
685,328
717,242
-3.2%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.