Johnson Controls International (JCI) FY2013 results: revenue $10.1 billion, up 1.7% on the year
Johnson Controls International plc (JCI) reported revenue of $10.1 billion for fiscal 2013, the year ended 27 September 2013, up 1.7% on the year before. Net income was $536 million, up 13.6%, and diluted earnings per share $1.14. The figures are the company's own, from the 10-K it filed with the SEC on 14 November 2013.
Revenue
$10.1 billion
+1.7% on the year
FY2007FY2013
Operating margin
7.1%
5.8% a year earlier
FY2007FY2013
Net income
$536 million
+13.6% on the year
FY2007FY2013
Diluted EPS
$1.14
+11.8% 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
10,058
9,892
10,099
+1.7%
Cost of revenue
3,985
3,905
6,614
+2.0%
Gross profit
6,073
5,987
3,485
+1.4%
Gross margin
60.4%
60.5%
34.5%
Research and development
172
145
129
+18.6%
Selling, general and administrative
2,838
2,823
2,747
+0.5%
Operating income
712
578
887
+23.2%
Operating margin
7.1%
5.8%
8.8%
Interest expense
100
209
240
-52.2%
Pre-tax income
599
-67.0
668
Income tax
108
320
112
-66.2%
Effective tax rate
18.0%
n/a
16.8%
Net income
536
472
1,719
+13.6%
Net margin
5.3%
4.8%
17.0%
Diluted EPS
$1.14
$1.02
$3.59
+11.8%
$ 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
850
2,586
2,428
-67.1%
Capital expenditure
269
295
273
-8.8%
Free cash flow
581
2,291
2,155
-74.6%
Free cash flow margin
5.8%
23.2%
21.3%
Depreciation and amortisation
379
379
383
0.0%
Share-based compensation
63.0
140
0.0
-55.0%
Buybacks
300
500
1,300
-40.0%
Dividends paid
288
461
458
-37.5%
Diluted shares, weighted
472m
463m
479m
+1.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
5,098
4,994
14,149
+2.1%
Non-controlling interest
23.0
16.0
5.0
+43.8%
Redeemable equity
12.0
12.0
93.0
0.0%
Debt
1,463
1,491
4,106
-1.9%
Other liabilities
5,580
5,852
8,349
-4.6%
Total liabilities and equity
12,176
12,365
26,702
-1.5%
Fixed assets
1,284
1,324
1,609
-3.0%
Goodwill
4,158
4,034
3,913
+3.1%
Intangible assets
791
758
745
+4.4%
Investments
243
203
247
+19.7%
Cash and equivalents
563
844
844
-33.3%
Receivables
1,704
1,679
1,547
+1.5%
Inventory
645
625
539
+3.2%
Other assets
2,788
2,898
17,258
-3.8%
Total assets
12,176
12,365
26,702
-1.5%
10-K for the year ended 27 September 2013, filed 14 November 2013: the filing.