Mattel (MAT) FY2011 results: revenue $6.3 billion, up 7.0% on the year
Mattel Inc. (MAT) reported revenue of $6.3 billion for fiscal 2011, the year ended 31 December 2011, up 7.0% on the year before. Net income was $769 million, up 12.2%, and diluted earnings per share $2.18. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$6.3 billion
+7.0% on the year
FY2007FY2011
Operating margin
16.6%
15.4% a year earlier
FY2007FY2011
Net income
$769 million
+12.2% on the year
FY2007FY2011
Diluted EPS
$2.18
+17.2% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
6,266
5,856
5,431
+7.0%
Cost of revenue
3,120
2,901
2,716
+7.5%
Gross profit
3,146
2,955
2,715
+6.5%
Gross margin
50.2%
50.5%
50.0%
Research and development
179
174
171
+2.9%
Selling, general and administrative
1,405
1,406
1,374
-0.0%
Operating income
1,041
902
731
+15.4%
Operating margin
16.6%
15.4%
13.5%
Interest expense
75.3
64.8
71.8
+16.2%
Pre-tax income
971
847
660
+14.6%
Income tax
202
162
131
+24.8%
Effective tax rate
20.8%
19.1%
19.9%
Net income
769
685
529
+12.2%
Net margin
12.3%
11.7%
9.7%
Diluted EPS
$2.18
$1.86
$1.45
+17.2%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
665
528
945
+25.9%
Capital expenditure
88.7
55.2
43.5
+60.6%
Free cash flow
576
473
902
+21.8%
Free cash flow margin
9.2%
8.1%
16.6%
Cash from investing
-175
-147
-33.5
Cash from financing
-397
-225
-376
Depreciation and amortisation
161
166
170
-2.7%
Share-based compensation
53.5
67.1
50.0
-20.3%
Buybacks
524
447
0.0
+17.3%
Dividends paid
317
291
271
+8.7%
Dividend per share
$0.92
$0.83
$0.75
+10.8%
Diluted shares, weighted
348m
365m
362m
-4.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,611
2,629
2,531
-0.7%
Short-term borrowings
n/a
n/a
1.9
Debt
1,558
1,200
750
+29.8%
Other liabilities
1,503
1,589
1,498
-5.4%
Total liabilities and equity
5,672
5,418
4,781
+4.7%
Fixed assets
524
485
505
+8.1%
Goodwill
822
824
828
-0.2%
Intangible assets
207
214
93.5
-3.2%
Cash and equivalents
1,369
1,281
1,117
+6.9%
Receivables
1,247
1,146
749
+8.8%
Inventory
487
464
356
+5.0%
Other assets
1,016
1,004
1,132
+1.2%
Total assets
5,672
5,418
4,781
+4.7%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.