Mastercard (MA) FY2013 results: revenue $8.3 billion, up 12.5% on the year
Mastercard Inc. (MA) reported revenue of $8.3 billion for fiscal 2013, the year ended 31 December 2013, up 12.5% on the year before. Net income was $3.1 billion, up 12.9%, and diluted earnings per share $2.56. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$8.3 billion
+12.5% on the year
FY2007FY2013
Operating margin
54.2%
53.3% a year earlier
FY2007FY2013
Net income
$3.1 billion
+12.9% on the year
FY2007FY2013
Diluted EPS
$2.56
+16.7% 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
8,312
7,391
6,714
+12.5%
Operating income
4,503
3,937
2,713
+14.4%
Operating margin
54.2%
53.3%
40.4%
Interest expense
14.0
20.0
25.0
-30.0%
Pre-tax income
4,500
3,932
2,746
+14.4%
Income tax
1,384
1,174
842
+17.9%
Effective tax rate
30.8%
29.9%
30.7%
Net income
3,116
2,759
1,906
+12.9%
Net margin
37.5%
37.3%
28.4%
Diluted EPS
$2.56
$2.19
$1.49
+16.7%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
4,135
2,948
2,684
+40.3%
Capital expenditure
155
96.0
77.0
+61.5%
Free cash flow
3,980
2,852
2,607
+39.6%
Free cash flow margin
47.9%
38.6%
38.8%
Cash from investing
-4.0
-2,839
-748
Cash from financing
-2,629
-1,798
-1,215
Depreciation and amortisation
258
230
194
+12.2%
Share-based compensation
63.0
0.0
35.0
Buybacks
2,443
1,748
1,148
+39.8%
Dividends paid
255
132
77.0
+93.2%
Dividend per share
$0.29
$0.12
$0.06
+141.7%
Diluted shares, weighted
1,215m
1,260m
1,280m
-3.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
7,484
6,917
5,868
+8.2%
Non-controlling interest
11.0
12.0
9.0
-8.3%
Debt
0.0
0.0
0.0
Other liabilities
6,747
5,533
4,816
+21.9%
Total liabilities and equity
14,242
12,462
10,693
+14.3%
Fixed assets
526
472
449
+11.4%
Goodwill
1,122
1,092
1,014
+2.7%
Intangible assets
672
672
665
0.0%
Investments
2,707
2,983
1,285
-9.3%
Cash and equivalents
3,599
2,052
3,734
+75.4%
Receivables
966
925
808
+4.4%
Other assets
4,650
4,266
2,738
+9.0%
Total assets
14,242
12,462
10,693
+14.3%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.