Masco (MAS) FY2010 results: revenue $7.2 billion, down 6.2% on the year
Masco Corp. (MAS) reported revenue of $7.2 billion for fiscal 2010, the year ended 31 December 2010, down 6.2% on the year before. Net income was -$1.0 billion, and diluted earnings per share $-3.00. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2011.
Revenue
$7.2 billion
-6.2% on the year
FY2007FY2010
Operating margin
-6.5%
0.9% a year earlier
FY2007FY2010
Net income
-$1.0 billion
FY2007FY2010
Diluted EPS
-$3.00
FY2007FY2010
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Revenue
7,183
7,657
9,484
-6.2%
Cost of revenue
5,381
5,647
7,125
-4.7%
Gross profit
1,802
2,010
2,359
-10.3%
Gross margin
25.1%
26.3%
24.9%
Selling, general and administrative
1,570
1,678
1,802
-6.4%
Operating income
-466
70.0
90.0
Operating margin
-6.5%
0.9%
0.9%
Interest expense
251
225
228
+11.6%
Pre-tax income
-745
-136
-193
Income tax
241
-44.0
134
Net income
-1,043
-183
-391
Net margin
-14.5%
-2.4%
-4.1%
Diluted EPS
-$3.00
-$0.53
-$1.13
$ 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
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
465
705
797
-34.0%
Capital expenditure
134
121
193
+10.7%
Free cash flow
331
584
604
-43.3%
Free cash flow margin
4.6%
7.6%
6.4%
Cash from investing
-109
-118
-14.0
Cash from financing
-40.0
-197
-631
Depreciation and amortisation
261
245
232
+6.5%
Share-based compensation
62.0
69.0
74.0
-10.1%
Buybacks
45.0
11.0
160
+309.1%
Dividends paid
108
166
336
-34.9%
Dividend per share
$0.30
$0.46
$0.93
-34.8%
Diluted shares, weighted
349m
351m
353m
-0.6%
Shares outstanding at period end
349m
350m
351m
-0.5%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
1,384
2,629
2,821
-47.4%
Non-controlling interest
198
188
160
+5.3%
Debt
4,098
3,968
3,915
+3.3%
Other liabilities
2,460
2,390
2,587
+2.9%
Total liabilities and equity
8,140
9,175
9,483
-11.3%
Fixed assets
1,737
1,981
2,136
-12.3%
Goodwill
2,341
3,108
3,371
-24.7%
Intangible assets
269
290
299
-7.2%
Investments
236
352
n/a
-33.0%
Cash and equivalents
1,425
1,413
1,028
+0.8%
Receivables
65.0
75.0
999
-13.3%
Inventory
732
743
941
-1.5%
Other assets
1,335
1,213
709
+10.1%
Total assets
8,140
9,175
9,483
-11.3%
10-K for the year ended 31 December 2010, filed 18 February 2011: the filing.