Genworth Financial (GNW) FY2013 results: revenue $8.6 billion, down 10.5% on the year
Genworth Financial Inc. (GNW) reported revenue of $8.6 billion for fiscal 2013, the year ended 31 December 2013, down 10.5% on the year before. Net income was $560 million, up 72.3%, and diluted earnings per share $1.12. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2014.
Revenue
$8.6 billion
-10.5% on the year
FY2007FY2013
Operating margin
6.8%
4.2% a year earlier
FY2007FY2013
Net income
$560 million
+72.3% on the year
FY2007FY2013
Diluted EPS
$1.12
+69.7% 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
8,625
9,640
9,923
-10.5%
Selling, general and administrative
1,244
1,594
1,930
-22.0%
Operating income
585
403
54.0
+45.2%
Operating margin
6.8%
4.2%
0.5%
Interest expense
450
476
506
-5.5%
Pre-tax income
993
606
130
+63.9%
Income tax
313
138
-11.0
+126.8%
Effective tax rate
31.5%
22.8%
-8.5%
Net income
560
325
38.0
+72.3%
Net margin
6.5%
3.4%
0.4%
Diluted EPS
$1.12
$0.66
$0.08
+69.7%
$ 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
1,399
962
3,125
+45.4%
Cash from investing
-580
-722
-59.0
Cash from financing
-149
-1,101
-1,641
Share-based compensation
39.0
26.0
31.0
+50.0%
Diluted shares, weighted
499m
494m
494m
+0.9%
Shares outstanding at period end
495m
492m
491m
+0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
14,393
16,493
15,022
-12.7%
Non-controlling interest
1,227
1,288
1,110
-4.7%
Debt
5,161
4,776
4,726
+8.1%
Other liabilities
87,264
90,755
91,329
-3.8%
Total liabilities and equity
108,045
113,312
112,187
-4.6%
Goodwill
867
868
958
-0.1%
Intangible assets
399
366
468
+9.0%
Securities held for sale or to maturity
58,629
62,161
58,295
-5.7%
Trading assets
n/a
556
788
Cash and equivalents
3,657
3,632
4,443
+0.7%
Other assets
44,493
45,729
47,235
-2.7%
Total assets
108,045
113,312
112,187
-4.6%
10-K for the year ended 31 December 2013, filed 3 March 2014: the filing.