Moody's (MCO) FY2010 results: revenue $2.0 billion, up 13.1% on the year
Moody's Corp. (MCO) reported revenue of $2.0 billion for fiscal 2010, the year ended 31 December 2010, up 13.1% on the year before. Net income was $508 million, up 26.3%, and diluted earnings per share $2.15. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2011.
Revenue
$2.0 billion
+13.1% on the year
FY2007FY2010
Operating margin
38.0%
38.3% a year earlier
FY2007FY2010
Net income
$508 million
+26.3% on the year
FY2007FY2010
Diluted EPS
$2.15
+27.2% on the year
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
2,032
1,797
1,755
+13.1%
Research and development
20.3
14.3
13.2
+42.0%
Selling, general and administrative
588
496
441
+18.6%
Operating income
773
688
748
+12.4%
Operating margin
38.0%
38.3%
42.6%
Pre-tax income
714
646
730
+10.6%
Income tax
201
239
268
-15.9%
Effective tax rate
28.1%
37.0%
36.7%
Net income
508
402
458
+26.3%
Net margin
25.0%
22.4%
26.1%
Diluted EPS
$2.15
$1.69
$1.87
+27.2%
$ 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
FY2010
FY2009
FY2008
On the year
Last 8 years
Operating cash flow
653
644
540
+1.5%
Capital expenditure
79.0
90.7
84.4
-12.9%
Free cash flow
574
553
455
+3.8%
Free cash flow margin
28.3%
30.8%
25.9%
Cash from investing
-229
-93.8
-319
Cash from financing
-241
-349
-350
Depreciation and amortisation
49.9
47.7
46.7
+4.6%
Share-based compensation
56.6
57.4
63.2
-1.4%
Buybacks
224
0.0
593
Dividends paid
98.6
94.5
96.8
+4.3%
Dividend per share
$0.42
$0.40
$0.40
+5.0%
Diluted shares, weighted
237m
238m
245m
-0.5%
Balance sheet
$ million
FY2010
FY2009
FY2008
On the year
Last 8 years
Shareholders' equity
-310
-606
-994
Non-controlling interest
11.2
10.1
8.3
+10.9%
Debt
1,240
750
750
+65.3%
Other liabilities
1,599
1,849
2,010
-13.5%
Total liabilities and equity
2,540
2,003
1,773
+26.8%
Fixed assets
319
293
248
+9.0%
Goodwill
466
349
338
+33.3%
Intangible assets
169
105
114
+60.9%
Investments
12.7
10.0
7.1
+27.0%
Cash and equivalents
660
474
246
+39.2%
Receivables
498
445
422
+11.8%
Other assets
417
327
399
+27.3%
Total assets
2,540
2,003
1,773
+26.8%
10-K for the year ended 31 December 2010, filed 28 February 2011: the filing.