HP (HPQ) FY2012 results: revenue $120.4 billion, down 5.4% on the year
HP Inc. (HPQ) reported revenue of $120.4 billion for fiscal 2012, the year ended 31 October 2012, down 5.4% on the year before. Net income was -$12.7 billion, and diluted earnings per share $-6.41. The figures are the company's own, from the 10-K it filed with the SEC on 27 December 2012.
Revenue
$120.4 billion
-5.4% on the year
FY2007FY2012
Operating margin
-9.2%
7.6% a year earlier
FY2007FY2012
Net income
-$12.7 billion
FY2007FY2012
Diluted EPS
-$6.41
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
120,357
127,245
126,033
-5.4%
Cost of revenue
92,068
97,223
95,550
-5.3%
Gross profit
28,289
30,022
30,483
-5.8%
Gross margin
23.5%
23.6%
24.2%
Research and development
3,399
3,254
2,959
+4.5%
Selling, general and administrative
13,500
13,577
12,822
-0.6%
Operating income
-11,057
9,677
11,479
Operating margin
-9.2%
7.6%
9.1%
Interest expense
831
522
417
+59.2%
Pre-tax income
-11,933
n/a
n/a
Income tax
717
1,908
2,213
-62.4%
Net income
-12,650
7,074
8,761
Net margin
-10.5%
5.6%
7.0%
Diluted EPS
-$6.41
$3.32
$3.69
$ 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
10,571
12,639
11,922
-16.4%
Capital expenditure
3,706
4,539
4,133
-18.4%
Free cash flow
6,865
8,100
7,789
-15.2%
Free cash flow margin
5.7%
6.4%
6.2%
Cash from investing
n/a
-13,959
-11,359
Cash from financing
n/a
-1,566
-2,913
Depreciation and amortisation
5,095
4,984
4,820
+2.2%
Share-based compensation
635
685
668
-7.3%
Buybacks
1,619
10,117
11,042
-84.0%
Dividends paid
1,015
844
771
+20.3%
Dividend per share
$0.50
$0.40
$0.32
+25.0%
Diluted shares, weighted
1,974m
2,128m
2,372m
-7.2%
Shares outstanding at period end
1,963m
1,991m
2,204m
-1.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
22,436
38,625
40,449
-41.9%
Non-controlling interest
397
379
332
+4.7%
Debt
28,436
30,634
22,304
-7.2%
Other liabilities
57,499
59,879
61,418
-4.0%
Total liabilities and equity
108,768
129,517
124,503
-16.0%
Fixed assets
11,954
12,292
11,763
-2.7%
Goodwill
31,069
44,551
38,483
-30.3%
Intangible assets
4,515
10,898
7,848
-58.6%
Investments
n/a
n/a
5.0
Securities held for sale or to maturity
838
444
n/a
+88.7%
Cash and equivalents
11,301
8,043
10,929
+40.5%
Receivables
16,407
18,224
18,481
-10.0%
Inventory
6,317
7,490
6,466
-15.7%
Other assets
26,367
27,575
30,528
-4.4%
Total assets
108,768
129,517
124,503
-16.0%
10-K for the year ended 31 October 2012, filed 27 December 2012: the filing.