Honeywell International (HON) FY2013 results: revenue $39.1 billion, up 3.7% on the year
Honeywell International Inc. (HON) reported revenue of $39.1 billion for fiscal 2013, the year ended 31 December 2013, up 3.7% on the year before. Net income was $3.9 billion, up 34.1%, and diluted earnings per share $9.84. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$39.1 billion
+3.7% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$3.9 billion
+34.1% on the year
FY2007FY2013
Diluted EPS
$9.84
+33.3% 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
39,055
37,665
36,529
+3.7%
Cost of revenue
28,364
28,291
28,556
+0.3%
Gross profit
10,691
9,374
7,973
+14.0%
Gross margin
27.4%
24.9%
21.8%
Research and development
1,804
1,847
1,799
-2.3%
Selling, general and administrative
5,190
5,218
5,399
-0.5%
Pre-tax income
5,412
3,875
2,282
+39.7%
Income tax
1,450
944
417
+53.6%
Effective tax rate
26.8%
24.4%
18.3%
Net income
3,924
2,926
2,067
+34.1%
Net margin
10.0%
7.8%
5.7%
Diluted EPS
$9.84
$7.38
$5.22
+33.3%
$ 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
4,335
3,517
2,833
+23.3%
Capital expenditure
947
884
790
+7.1%
Free cash flow
3,388
2,633
2,043
+28.7%
Free cash flow margin
8.7%
7.0%
5.6%
Cash from investing
n/a
-1,428
-611
Cash from financing
n/a
-1,206
-1,114
Depreciation and amortisation
989
926
948
+6.8%
Share-based compensation
170
170
168
0.0%
Buybacks
1,073
317
1,085
+238.5%
Dividends paid
1,353
1,211
1,091
+11.7%
Dividend per share
$3.36
$3.06
$2.74
+9.8%
Diluted shares, weighted
399m
396m
396m
+0.7%
Shares outstanding at period end
392m
391m
387m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
17,467
12,975
10,806
+34.6%
Non-controlling interest
112
90.0
96.0
+24.4%
Debt
8,829
7,496
7,555
+17.8%
Other liabilities
19,027
21,292
21,351
-10.6%
Total liabilities and equity
45,435
41,853
39,808
+8.6%
Fixed assets
5,278
5,001
4,804
+5.5%
Goodwill
13,046
12,425
11,858
+5.0%
Intangible assets
2,514
2,449
2,477
+2.7%
Investments
143
424
362
-66.3%
Cash and equivalents
6,422
4,634
3,698
+38.6%
Receivables
7,929
7,429
7,228
+6.7%
Inventory
4,293
4,235
4,264
+1.4%
Other assets
5,810
5,256
5,117
+10.5%
Total assets
45,435
41,853
39,808
+8.6%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.