Halliburton (HAL) FY2013 results: revenue $29.4 billion, up 3.2% on the year
Halliburton Co. (HAL) reported revenue of $29.4 billion for fiscal 2013, the year ended 31 December 2013, up 3.2% on the year before. Net income was $2.1 billion, down 19.4%, and diluted earnings per share $2.36. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2014.
Revenue
$29.4 billion
+3.2% on the year
FY2007FY2013
Operating margin
10.7%
14.6% a year earlier
FY2007FY2013
Net income
$2.1 billion
-19.4% on the year
FY2007FY2013
Diluted EPS
$2.36
-16.9% 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
29,402
28,503
24,829
+3.2%
Cost of revenue
24,931
23,769
19,811
+4.9%
Gross profit
4,471
4,734
5,018
-5.6%
Gross margin
15.2%
16.6%
20.2%
Research and development
588
460
401
+27.8%
Operating income
3,138
4,159
4,737
-24.5%
Operating margin
10.7%
14.6%
19.1%
Pre-tax income
2,764
3,822
4,449
-27.7%
Income tax
648
1,235
1,439
-47.5%
Effective tax rate
23.4%
32.3%
32.3%
Net income
2,125
2,635
2,839
-19.4%
Net margin
7.2%
9.2%
11.4%
Diluted EPS
$2.36
$2.84
$3.08
-16.9%
$ 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
4,447
3,654
3,684
+21.7%
Capital expenditure
2,934
3,566
2,953
-17.7%
Free cash flow
1,513
88.0
731
+1,619.3%
Free cash flow margin
5.1%
0.3%
2.9%
Cash from investing
-2,870
-3,688
-3,190
Cash from financing
-1,754
-172
833
Depreciation and amortisation
1,900
1,628
1,359
+16.7%
Share-based compensation
264
217
n/a
+21.7%
Buybacks
4,356
0.0
0.0
Dividends paid
465
333
330
+39.6%
Dividend per share
$0.53
$0.36
$0.36
+45.8%
Diluted shares, weighted
902m
928m
922m
-2.8%
Shares outstanding at period end
849m
929m
921m
-8.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
13,581
15,765
13,198
-13.9%
Non-controlling interest
34.0
25.0
18.0
+36.0%
Debt
7,816
4,820
4,820
+62.2%
Other liabilities
7,792
6,800
5,641
+14.6%
Total liabilities and equity
29,223
27,410
23,677
+6.6%
Fixed assets
11,322
10,257
8,492
+10.4%
Goodwill
2,168
2,168
1,776
0.0%
Investments
n/a
n/a
150
Cash and equivalents
2,356
2,484
2,698
-5.2%
Receivables
6,181
5,787
5,084
+6.8%
Inventory
3,305
3,186
2,570
+3.7%
Other assets
3,891
3,528
2,907
+10.3%
Total assets
29,223
27,410
23,677
+6.6%
10-K for the year ended 31 December 2013, filed 7 February 2014: the filing.