Invesco (IVZ) FY2013 results: revenue $4.6 billion, up 14.7% on the year
Invesco Ltd. (IVZ) reported revenue of $4.6 billion for fiscal 2013, the year ended 31 December 2013, up 14.7% on the year before. Net income was $940 million, up 38.9%, and diluted earnings per share $2.10. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$4.6 billion
+14.7% on the year
FY2007FY2013
Operating margin
24.1%
20.8% a year earlier
FY2007FY2013
Net income
$940 million
+38.9% on the year
FY2007FY2013
Diluted EPS
$2.10
+40.9% 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
4,645
4,050
3,982
+14.7%
Operating income
1,120
843
882
+32.9%
Operating margin
24.1%
20.8%
22.2%
Interest expense
44.6
52.3
61.8
-14.7%
Pre-tax income
1,255
831
892
+51.1%
Income tax
337
261
280
+28.9%
Effective tax rate
26.8%
31.5%
31.4%
Net income
940
677
730
+38.9%
Net margin
20.2%
16.7%
18.3%
Diluted EPS
$2.10
$1.49
$1.57
+40.9%
$ 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
780
819
965
-4.8%
Capital expenditure
88.2
99.3
107
-11.2%
Free cash flow
692
720
858
-3.9%
Free cash flow margin
14.9%
17.8%
21.5%
Cash from investing
-240
-82.4
348
Cash from financing
-59.3
-646
-1,322
Depreciation and amortisation
88.4
95.0
117
-6.9%
Share-based compensation
133
136
115
-2.4%
Buybacks
470
265
436
+77.5%
Dividends paid
380
289
221
+31.4%
Dividend per share
$0.85
$0.64
$0.48
+32.4%
Diluted shares, weighted
448m
454m
465m
-1.2%
Shares outstanding at period end
433m
441m
446m
-1.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
8,393
8,317
8,119
+0.9%
Non-controlling interest
585
732
1,018
-20.1%
Redeemable equity
0.0
n/a
n/a
Debt
1,589
1,186
1,285
+33.9%
Other liabilities
8,705
7,257
8,925
+19.9%
Total liabilities and equity
19,270
17,492
19,347
+10.2%
Fixed assets
351
350
313
+0.3%
Goodwill
6,867
7,048
6,908
-2.6%
Intangible assets
1,264
1,288
1,323
-1.9%
Investments
n/a
611
484
Cash and equivalents
1,331
836
727
+59.3%
Receivables
n/a
449
424
Other assets
9,458
6,911
9,167
+36.8%
Total assets
19,270
17,492
19,347
+10.2%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.