Masco (MAS) FY2013 results: revenue $6.8 billion, down 9.8% on the year
Masco Corp. (MAS) reported revenue of $6.8 billion for fiscal 2013, the year ended 31 December 2013, down 9.8% on the year before. Net income was $288 million, and diluted earnings per share $0.80. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$6.8 billion
-9.8% on the year
FY2007FY2013
Operating margin
9.1%
4.0% a year earlier
FY2007FY2013
Net income
$288 million
FY2007FY2013
Diluted EPS
$0.80
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
6,761
7,495
7,170
-9.8%
Cost of revenue
4,802
5,539
5,383
-13.3%
Gross profit
1,959
1,956
1,784
+0.2%
Gross margin
29.0%
26.1%
24.9%
Selling, general and administrative
1,347
1,535
1,543
-12.2%
Operating income
612
302
-215
+102.6%
Operating margin
9.1%
4.0%
-3.0%
Interest expense
235
254
254
-7.5%
Pre-tax income
386
73.0
-392
+428.8%
Income tax
86.0
91.0
-40.0
-5.5%
Effective tax rate
22.3%
124.7%
n/a
Net income
288
-114
-575
Net margin
4.3%
-1.5%
-8.0%
Diluted EPS
$0.80
-$0.33
-$1.66
$ 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
645
281
239
+129.5%
Capital expenditure
126
117
139
+7.7%
Free cash flow
519
164
100
+216.5%
Free cash flow margin
7.7%
2.2%
1.4%
Cash from investing
-77.0
-29.0
-84.0
Cash from financing
-382
-576
-219
Depreciation and amortisation
186
214
263
-13.1%
Share-based compensation
54.0
61.0
61.0
-11.5%
Buybacks
35.0
8.0
30.0
+337.5%
Dividends paid
107
107
107
0.0%
Dividend per share
$0.30
$0.30
$0.30
0.0%
Diluted shares, weighted
352m
349m
348m
+0.9%
Shares outstanding at period end
350m
349m
348m
+0.1%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
559
322
527
+73.6%
Non-controlling interest
228
212
215
+7.5%
Debt
3,427
3,628
4,025
-5.5%
Other liabilities
2,671
2,713
2,530
-1.5%
Total liabilities and equity
6,885
6,875
7,297
+0.1%
Fixed assets
1,252
1,326
1,454
-5.6%
Goodwill
859
1,894
1,891
-54.6%
Intangible assets
149
151
196
-1.3%
Investments
434
406
415
+6.9%
Cash and equivalents
1,223
1,040
1,353
+17.6%
Receivables
1,004
71.0
59.0
+1,314.1%
Inventory
765
726
706
+5.4%
Other assets
1,199
1,261
1,223
-4.9%
Total assets
6,885
6,875
7,297
+0.1%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.