HP (HPQ) FY2013 results: revenue $55.3 billion, down 54.1% on the year
HP Inc. (HPQ) reported revenue of $55.3 billion for fiscal 2013, the year ended 31 October 2013, down 54.1% on the year before. Net income was $5.1 billion, and diluted earnings per share $2.62. The figures are the company's own, from the 10-K it filed with the SEC on 30 December 2013.
Revenue
$55.3 billion
-54.1% on the year
FY2007FY2013
Operating margin
6.4%
-9.2% a year earlier
FY2007FY2013
Net income
$5.1 billion
FY2007FY2013
Diluted EPS
$2.62
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
55,273
120,357
127,245
-54.1%
Cost of revenue
44,754
92,068
97,223
-51.4%
Gross profit
10,519
28,289
30,022
-62.8%
Gross margin
19.0%
23.5%
23.6%
Research and development
1,209
3,399
3,254
-64.4%
Selling, general and administrative
5,428
13,500
13,577
-59.8%
Operating income
3,516
-11,057
9,677
Operating margin
6.4%
-9.2%
7.6%
Interest expense
738
831
522
-11.2%
Pre-tax income
3,055
-11,933
n/a
Income tax
595
717
1,908
-17.0%
Effective tax rate
19.5%
n/a
n/a
Net income
5,113
-12,650
7,074
Net margin
9.3%
-10.5%
5.6%
Diluted EPS
$2.62
-$6.41
$3.32
$ 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
11,608
10,571
12,639
+9.8%
Capital expenditure
3,199
3,706
4,539
-13.7%
Free cash flow
8,409
6,865
8,100
+22.5%
Free cash flow margin
15.2%
5.7%
6.4%
Cash from investing
-2,803
n/a
-13,959
Cash from financing
-7,943
n/a
-1,566
Depreciation and amortisation
4,611
5,095
4,984
-9.5%
Share-based compensation
500
635
685
-21.3%
Buybacks
1,532
1,619
10,117
-5.4%
Dividends paid
1,105
1,015
844
+8.9%
Dividend per share
$0.55
$0.50
$0.40
+10.0%
Diluted shares, weighted
1,950m
1,974m
2,128m
-1.2%
Shares outstanding at period end
1,908m
1,963m
1,991m
-2.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
27,269
22,436
38,625
+21.5%
Non-controlling interest
387
397
379
-2.5%
Debt
22,587
28,436
30,634
-20.6%
Other liabilities
55,433
57,499
59,879
-3.6%
Total liabilities and equity
105,676
108,768
129,517
-2.8%
Fixed assets
11,463
11,954
12,292
-4.1%
Goodwill
5,691
31,069
44,551
-81.7%
Intangible assets
3,169
4,515
10,898
-29.8%
Securities held for sale or to maturity
459
838
444
-45.2%
Cash and equivalents
12,163
11,301
8,043
+7.6%
Receivables
15,876
16,407
18,224
-3.2%
Inventory
6,046
6,317
7,490
-4.3%
Other assets
50,809
26,367
27,575
+92.7%
Total assets
105,676
108,768
129,517
-2.8%
10-K for the year ended 31 October 2013, filed 30 December 2013: the filing.