Halliburton (HAL) FY2012 results: revenue $28.5 billion, up 14.8% on the year
Halliburton Co. (HAL) reported revenue of $28.5 billion for fiscal 2012, the year ended 31 December 2012, up 14.8% on the year before. Net income was $2.6 billion, down 7.2%, and diluted earnings per share $2.84. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2013.
Revenue
$28.5 billion
+14.8% on the year
FY2007FY2012
Operating margin
14.6%
19.1% a year earlier
FY2007FY2012
Net income
$2.6 billion
-7.2% on the year
FY2007FY2012
Diluted EPS
$2.84
-7.8% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
28,503
24,829
17,973
+14.8%
Cost of revenue
23,769
19,811
14,745
+20.0%
Gross profit
4,734
5,018
3,228
-5.7%
Gross margin
16.6%
20.2%
18.0%
Research and development
460
401
366
+14.7%
Operating income
4,159
4,737
3,009
-12.2%
Operating margin
14.6%
19.1%
16.7%
Pre-tax income
3,822
4,449
2,655
-14.1%
Income tax
1,235
1,439
853
-14.2%
Effective tax rate
32.3%
32.3%
32.1%
Net income
2,635
2,839
1,835
-7.2%
Net margin
9.2%
11.4%
10.2%
Diluted EPS
$2.84
$3.08
$2.01
-7.8%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
3,654
3,684
2,212
-0.8%
Capital expenditure
3,566
2,953
2,069
+20.8%
Free cash flow
88.0
731
143
-88.0%
Free cash flow margin
0.3%
2.9%
0.8%
Cash from investing
-3,688
-3,190
-1,755
Cash from financing
-172
833
-1,114
Depreciation and amortisation
1,628
1,359
1,119
+19.8%
Share-based compensation
217
n/a
n/a
Buybacks
0.0
0.0
141
Dividends paid
333
330
327
+0.9%
Dividend per share
$0.36
$0.36
$0.36
0.0%
Diluted shares, weighted
928m
922m
911m
+0.7%
Shares outstanding at period end
929m
921m
910m
+0.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
15,765
13,198
10,373
+19.4%
Non-controlling interest
25.0
18.0
14.0
+38.9%
Debt
4,820
4,820
3,824
0.0%
Other liabilities
6,800
5,641
4,086
+20.5%
Total liabilities and equity
27,410
23,677
18,297
+15.8%
Fixed assets
10,257
8,492
6,842
+20.8%
Goodwill
2,168
1,776
1,315
+22.1%
Investments
n/a
150
653
Cash and equivalents
2,484
2,698
1,398
-7.9%
Receivables
5,787
5,084
3,924
+13.8%
Inventory
3,186
2,570
1,940
+24.0%
Other assets
3,528
2,907
2,225
+21.4%
Total assets
27,410
23,677
18,297
+15.8%
10-K for the year ended 31 December 2012, filed 11 February 2013: the filing.