Johnson Controls International (JCI) FY2011 results: revenue $10.1 billion, down 8.4% on the year
Johnson Controls International plc (JCI) reported revenue of $10.1 billion for fiscal 2011, the year ended 30 September 2011, down 8.4% on the year before. Net income was $1.7 billion, up 51.9%, and diluted earnings per share $3.59. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2011.
Revenue
$10.1 billion
-8.4% on the year
FY2007FY2011
Operating margin
8.8%
5.6% a year earlier
FY2007FY2011
Net income
$1.7 billion
+51.9% on the year
FY2007FY2011
Diluted EPS
$3.59
+54.7% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
10,099
11,020
16,882
-8.4%
Cost of revenue
6,614
7,404
10,870
-10.7%
Gross profit
3,485
3,616
6,012
-3.6%
Gross margin
34.5%
32.8%
35.6%
Research and development
129
113
116
+14.2%
Selling, general and administrative
2,747
2,946
4,599
-6.8%
Operating income
887
615
-1,506
+44.2%
Operating margin
8.8%
5.6%
-8.9%
Interest expense
240
279
301
-14.0%
Pre-tax income
668
285
-1,770
+134.4%
Income tax
112
-17.0
71.0
Effective tax rate
16.8%
-6.0%
n/a
Net income
1,719
1,132
-1,798
+51.9%
Net margin
17.0%
10.3%
-10.7%
Diluted EPS
$3.59
$2.32
-$3.80
+54.7%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,428
2,657
2,421
-8.6%
Capital expenditure
273
351
702
-22.2%
Free cash flow
2,155
2,306
1,719
-6.5%
Free cash flow margin
21.3%
20.9%
10.2%
Depreciation and amortisation
383
449
1,126
-14.7%
Share-based compensation
0.0
120
99.0
-100.0%
Buybacks
1,300
900
n/a
+44.4%
Dividends paid
458
416
388
+10.1%
Diluted shares, weighted
479m
488m
473m
-1.8%
Shares outstanding at period end
n/a
n/a
479m
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
14,149
14,084
12,941
+0.5%
Non-controlling interest
5.0
17.0
13.0
-70.6%
Redeemable equity
93.0
n/a
n/a
Debt
4,106
4,188
4,274
-2.0%
Other liabilities
8,349
8,777
8,325
-4.9%
Total liabilities and equity
26,702
27,066
25,553
-1.3%
Fixed assets
1,609
4,156
3,437
-61.3%
Goodwill
3,913
4,080
8,791
-4.1%
Intangible assets
745
3,446
2,647
-78.4%
Investments
247
283
n/a
-12.7%
Cash and equivalents
844
844
2,115
0.0%
Receivables
1,547
2,493
2,544
-37.9%
Inventory
539
1,443
1,370
-62.6%
Other assets
17,258
10,321
4,649
+67.2%
Total assets
26,702
27,066
25,553
-1.3%
10-K for the year ended 30 September 2011, filed 16 November 2011: the filing.