Moody's (MCO) FY2012 results: revenue $2.7 billion, up 19.7% on the year
Moody's Corp. (MCO) reported revenue of $2.7 billion for fiscal 2012, the year ended 31 December 2012, up 19.7% on the year before. Net income was $690 million, up 20.8%, and diluted earnings per share $3.05. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2013.
Revenue
$2.7 billion
+19.7% on the year
FY2007FY2012
Operating margin
39.5%
39.0% a year earlier
FY2007FY2012
Net income
$690 million
+20.8% on the year
FY2007FY2012
Diluted EPS
$3.05
+22.5% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
2,730
2,281
2,032
+19.7%
Research and development
16.1
29.8
20.3
-46.0%
Selling, general and administrative
752
630
588
+19.5%
Operating income
1,077
888
773
+21.3%
Operating margin
39.5%
39.0%
38.0%
Pre-tax income
1,024
840
714
+21.9%
Income tax
324
262
201
+23.9%
Effective tax rate
31.7%
31.2%
28.1%
Net income
690
571
508
+20.8%
Net margin
25.3%
25.1%
25.0%
Diluted EPS
$3.05
$2.49
$2.15
+22.5%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
823
803
653
+2.5%
Capital expenditure
45.0
67.7
79.0
-33.5%
Free cash flow
778
736
574
+5.8%
Free cash flow margin
28.5%
32.3%
28.3%
Cash from investing
-50.2
-268
-229
Cash from financing
203
-418
-241
Depreciation and amortisation
63.4
58.7
49.9
+8.0%
Share-based compensation
64.5
56.7
56.6
+13.8%
Buybacks
196
334
224
-41.1%
Dividends paid
143
121
98.6
+18.2%
Dividend per share
$0.64
$0.54
$0.42
+19.6%
Diluted shares, weighted
227m
229m
237m
-1.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
385
-169
-310
Non-controlling interest
11.4
10.6
11.2
+7.5%
Redeemable equity
72.3
60.5
n/a
+19.5%
Debt
1,671
1,244
1,240
+34.4%
Other liabilities
1,821
1,730
1,599
+5.2%
Total liabilities and equity
3,961
2,876
2,540
+37.7%
Fixed assets
307
327
319
-6.0%
Goodwill
637
643
466
-0.9%
Intangible assets
226
254
169
-10.7%
Investments
17.9
14.8
12.7
+20.9%
Cash and equivalents
1,755
760
660
+131.0%
Receivables
622
490
498
+26.9%
Other assets
395
388
417
+1.8%
Total assets
3,961
2,876
2,540
+37.7%
10-K for the year ended 31 December 2012, filed 26 February 2013: the filing.