Goodyear Tire & Rubber (GT) FY2013 results: revenue $19.5 billion, down 6.9% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $19.5 billion for fiscal 2013, the year ended 31 December 2013, down 6.9% on the year before. Net income was $629 million, up 196.7%, and diluted earnings per share $2.28. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$19.5 billion
-6.9% on the year
FY2008FY2013
Operating margin
8.1%
5.9% a year earlier
FY2008FY2013
Net income
$629 million
+196.7% on the year
FY2008FY2013
Diluted EPS
$2.28
+208.1% on the year
FY2008FY2013
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
19,540
20,992
22,767
-6.9%
Cost of revenue
15,422
17,163
18,821
-10.1%
Gross profit
4,118
3,829
3,946
+7.5%
Gross margin
21.1%
18.2%
17.3%
Research and development
390
370
369
+5.4%
Selling, general and administrative
2,758
2,718
2,822
+1.5%
Operating income
1,580
1,248
1,368
+26.6%
Operating margin
8.1%
5.9%
6.0%
Interest expense
392
357
330
+9.8%
Pre-tax income
813
440
618
+84.8%
Income tax
138
203
201
-32.0%
Effective tax rate
17.0%
46.1%
32.5%
Net income
629
212
343
+196.7%
Net margin
3.2%
1.0%
1.5%
Diluted EPS
$2.28
$0.74
$1.26
+208.1%
$ 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
938
1,038
773
-9.6%
Capital expenditure
1,168
1,127
1,043
+3.6%
Free cash flow
-230
-89.0
-270
Free cash flow margin
-1.2%
-0.4%
-1.2%
Cash from investing
-1,136
-1,123
-902
Cash from financing
1,082
-426
994
Depreciation and amortisation
722
687
715
+5.1%
Share-based compensation
18.0
15.0
18.0
+20.0%
Buybacks
4.0
0.0
n/a
Dividends paid
12.0
0.0
0.0
Dividend per share
$0.05
$0.00
$0.00
Diluted shares, weighted
277m
247m
271m
+12.1%
Shares outstanding at period end
248m
245m
245m
+1.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,606
370
749
+334.1%
Non-controlling interest
262
255
268
+2.7%
Redeemable equity
577
n/a
n/a
Short-term borrowings
14.0
102
n/a
-86.3%
Debt
6,173
4,926
5,201
+25.3%
Other liabilities
8,805
11,320
11,411
-22.2%
Total liabilities and equity
17,437
16,973
17,629
+2.7%
Fixed assets
7,320
6,956
6,375
+5.2%
Goodwill
668
664
654
+0.6%
Intangible assets
138
140
157
-1.4%
Cash and equivalents
2,996
2,281
2,772
+31.3%
Receivables
2,435
2,563
2,849
-5.0%
Inventory
2,816
3,250
3,856
-13.4%
Other assets
1,064
1,119
966
-4.9%
Total assets
17,437
16,973
17,629
+2.7%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.