Generac Holdings (GNRC) FY2013 results: revenue $1.5 billion, up 26.3% on the year
Generac Holdings Inc. (GNRC) reported revenue of $1.5 billion for fiscal 2013, the year ended 31 December 2013, up 26.3% on the year before. Net income was $175 million, up 87.2%, and diluted earnings per share $2.51. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$1.5 billion
+26.3% on the year
FY2009FY2013
Operating margin
23.7%
19.0% a year earlier
FY2009FY2013
Net income
$175 million
+87.2% on the year
FY2009FY2013
Diluted EPS
$2.51
+85.9% 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
1,486
1,176
792
+26.3%
Cost of revenue
916
736
497
+24.5%
Gross profit
570
440
295
+29.3%
Gross margin
38.3%
37.4%
37.2%
Research and development
29.3
23.5
16.5
+24.6%
Operating income
351
224
113
+57.2%
Operating margin
23.7%
19.0%
14.3%
Interest expense
54.4
49.1
23.7
+10.8%
Pre-tax income
279
156
87.0
+78.3%
Income tax
104
63.1
-238
+65.0%
Effective tax rate
37.4%
40.4%
-273.3%
Net income
175
93.2
325
+87.2%
Net margin
11.7%
7.9%
41.0%
Diluted EPS
$2.51
$1.35
$4.79
+85.9%
$ 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
260
236
170
+10.3%
Capital expenditure
30.8
22.4
12.1
+37.4%
Free cash flow
229
213
158
+7.5%
Free cash flow margin
15.4%
18.1%
19.9%
Cash from investing
-145
-69.3
-96.0
Cash from financing
-73.4
-151
-59.2
Depreciation and amortisation
36.8
54.2
56.1
-32.1%
Share-based compensation
12.4
10.8
8.6
+14.7%
Dividends paid
343
404
0.0
-15.1%
Dividend per share
$5.00
$6.00
$0.00
-16.7%
Diluted shares, weighted
70m
69m
68m
+0.7%
Shares outstanding at period end
n/a
68m
68m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
317
464
769
-31.6%
Short-term borrowings
9.6
n/a
0.0
Debt
1,197
894
604
+33.9%
Other liabilities
275
246
180
+11.4%
Total liabilities and equity
1,798
1,604
1,553
+12.1%
Fixed assets
146
105
84.4
+39.8%
Goodwill
608
553
547
+10.0%
Intangible assets
110
114
158
-3.8%
Cash and equivalents
150
108
93.1
+39.0%
Receivables
165
n/a
n/a
Inventory
300
226
162
+33.0%
Other assets
319
498
507
-36.1%
Total assets
1,798
1,604
1,553
+12.1%
10-K for the year ended 31 December 2013, filed 27 February 2015: the filing.