Intuit (INTU) FY2013 results: revenue $3.9 billion, up 3.6% on the year
Intuit Inc. (INTU) reported revenue of $3.9 billion for fiscal 2013, the year ended 31 July 2013, up 3.6% on the year before. Net income was $858 million, up 8.3%, and diluted earnings per share $2.83. The figures are the company's own, from the 10-K it filed with the SEC on 13 September 2013.
Revenue
$3.9 billion
+3.6% on the year
FY2008FY2013
Operating margin
30.6%
30.7% a year earlier
FY2008FY2013
Net income
$858 million
+8.3% on the year
FY2008FY2013
Diluted EPS
$2.83
+8.8% on the year
FY2008FY2013
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
3,946
3,808
3,449
+3.6%
Cost of revenue
527
575
481
-8.3%
Gross profit
3,419
3,233
2,968
+5.8%
Gross margin
86.6%
84.9%
86.1%
Research and development
647
618
566
+4.7%
Operating income
1,208
1,168
1,082
+3.4%
Operating margin
30.6%
30.7%
31.4%
Interest expense
30.0
50.0
60.0
-40.0%
Pre-tax income
1,185
1,138
1,042
+4.1%
Income tax
378
374
354
+1.1%
Effective tax rate
31.9%
32.9%
34.0%
Net income
858
792
634
+8.3%
Net margin
21.7%
20.8%
18.4%
Diluted EPS
$2.83
$2.60
$2.00
+8.8%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,366
1,246
1,013
+9.6%
Capital expenditure
129
135
114
-4.4%
Free cash flow
1,237
1,111
899
+11.3%
Free cash flow margin
31.3%
29.2%
26.1%
Cash from investing
-485
-225
497
Cash from financing
-262
-1,344
-1,006
Depreciation and amortisation
183
194
173
-5.7%
Share-based compensation
195
169
153
+15.4%
Buybacks
292
900
1,360
-67.6%
Dividends paid
203
178
0.0
+14.0%
Dividend per share
$0.68
$0.60
$0.00
+13.3%
Diluted shares, weighted
303m
305m
317m
-0.7%
Shares outstanding at period end
300m
295m
301m
+1.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,531
2,744
2,616
+28.7%
Debt
499
499
999
0.0%
Other liabilities
1,456
1,441
1,495
+1.0%
Total liabilities and equity
5,486
4,684
5,110
+17.1%
Fixed assets
555
543
561
+2.2%
Goodwill
1,100
1,286
960
-14.5%
Intangible assets
149
207
180
-28.0%
Investments
735
426
762
+72.5%
Cash and equivalents
1,009
393
722
+156.7%
Receivables
130
142
171
-8.5%
Other assets
1,808
1,687
1,754
+7.2%
Total assets
5,486
4,684
5,110
+17.1%
10-K for the year ended 31 July 2013, filed 13 September 2013: the filing.