Johnson & Johnson (JNJ) FY2013 results: revenue $71.3 billion, up 6.1% on the year
Johnson & Johnson (JNJ) reported revenue of $71.3 billion for fiscal 2013, the year ended 29 December 2013, up 6.1% on the year before. Net income was $13.8 billion, up 27.4%, and diluted earnings per share $4.81. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$71.3 billion
+6.1% on the year
FY2007FY2013
Operating margin
23.0%
22.2% a year earlier
FY2007FY2013
Net income
$13.8 billion
+27.4% on the year
FY2007FY2013
Diluted EPS
$4.81
+24.6% 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
71,312
67,224
65,030
+6.1%
Cost of revenue
22,342
21,658
20,360
+3.2%
Gross profit
48,970
45,566
44,670
+7.5%
Gross margin
68.7%
67.8%
68.7%
Research and development
8,183
7,665
7,548
+6.8%
Selling, general and administrative
21,830
20,869
20,969
+4.6%
Operating income
16,412
14,955
13,765
+9.7%
Operating margin
23.0%
22.2%
21.2%
Interest expense
482
532
571
-9.4%
Pre-tax income
15,471
13,775
12,361
+12.3%
Income tax
1,640
3,261
2,689
-49.7%
Effective tax rate
10.6%
23.7%
21.8%
Net income
13,831
10,853
9,672
+27.4%
Net margin
19.4%
16.1%
14.9%
Diluted EPS
$4.81
$3.86
$3.49
+24.6%
$ 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
17,414
15,396
14,298
+13.1%
Capital expenditure
3,595
2,934
2,893
+22.5%
Free cash flow
13,819
12,462
11,405
+10.9%
Free cash flow margin
19.4%
18.5%
17.5%
Cash from investing
-5,103
-4,510
-4,612
Cash from financing
-6,091
-20,562
-4,452
Depreciation and amortisation
4,104
3,666
3,158
+11.9%
Share-based compensation
728
662
621
+10.0%
Buybacks
3,538
12,919
2,525
-72.6%
Dividends paid
7,286
6,614
6,156
+10.2%
Dividend per share
$2.59
$2.40
$2.25
+7.9%
Diluted shares, weighted
2,877m
2,813m
2,775m
+2.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
74,053
64,826
57,080
+14.2%
Debt
18,180
16,165
19,627
+12.5%
Other liabilities
40,450
40,356
36,937
+0.2%
Total liabilities and equity
132,683
121,347
113,644
+9.3%
Fixed assets
16,710
16,097
14,739
+3.8%
Goodwill
22,798
22,424
16,138
+1.7%
Intangible assets
27,947
28,752
18,138
-2.8%
Investments
8,279
6,178
7,719
+34.0%
Cash and equivalents
20,927
14,911
24,542
+40.3%
Receivables
11,713
11,309
10,581
+3.6%
Inventory
7,878
7,495
6,285
+5.1%
Other assets
16,431
14,181
15,502
+15.9%
Total assets
132,683
121,347
113,644
+9.3%
10-K for the year ended 29 December 2013, filed 21 February 2014: the filing.