Altria Group (MO) FY2013 results: revenue $24.5 billion, down 0.6% on the year
Altria Group, Inc. (MO) reported revenue of $24.5 billion for fiscal 2013, the year ended 31 December 2013, down 0.6% on the year before. Net income was $4.5 billion, up 8.5%, and diluted earnings per share $2.26. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$24.5 billion
-0.6% on the year
FY2007FY2013
Operating margin
33.0%
29.5% a year earlier
FY2007FY2013
Net income
$4.5 billion
+8.5% on the year
FY2007FY2013
Diluted EPS
$2.26
+9.7% on the year
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
24,466
24,618
23,800
-0.6%
Cost of revenue
7,206
7,937
7,680
-9.2%
Gross profit
10,457
9,563
8,939
+9.3%
Gross margin
42.7%
38.8%
37.6%
Research and development
153
136
128
+12.5%
Operating income
8,084
7,253
6,068
+11.5%
Operating margin
33.0%
29.5%
25.5%
Interest expense
1,053
1,128
1,220
-6.6%
Pre-tax income
6,942
6,477
5,582
+7.2%
Income tax
2,407
2,294
2,189
+4.9%
Effective tax rate
34.7%
35.4%
39.2%
Net income
4,535
4,180
3,390
+8.5%
Net margin
18.5%
17.0%
14.2%
Diluted EPS
$2.26
$2.06
$1.64
+9.7%
$ 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
4,375
3,903
3,613
+12.1%
Capital expenditure
131
124
105
+5.6%
Free cash flow
4,244
3,779
3,508
+12.3%
Free cash flow margin
17.3%
15.4%
14.7%
Cash from investing
602
920
387
-34.6%
Cash from financing
-4,702
-5,193
-3,044
Depreciation and amortisation
212
225
253
-5.8%
Buybacks
634
1,082
1,327
-41.4%
Dividends paid
3,612
3,400
3,222
+6.2%
Dividend per share
$1.84
$1.70
$1.58
+8.2%
Diluted shares, weighted
n/a
2,024m
2,064m
Shares outstanding at period end
1,993m
2,010m
2,044m
-0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,119
3,168
3,680
+30.0%
Non-controlling interest
-1.0
2.0
3.0
Redeemable equity
35.0
34.0
n/a
+2.9%
Short-term borrowings
0.0
0.0
0.0
Debt
14,517
13,878
13,689
+4.6%
Other liabilities
16,189
18,247
19,379
-11.3%
Total liabilities and equity
34,859
35,329
36,751
-1.3%
Fixed assets
2,028
2,102
2,216
-3.5%
Goodwill
5,174
5,174
5,174
0.0%
Intangible assets
12,058
12,078
12,098
-0.2%
Cash and equivalents
3,175
2,900
3,270
+9.5%
Receivables
115
193
268
-40.4%
Inventory
1,879
1,746
1,779
+7.6%
Other assets
10,430
11,136
11,946
-6.3%
Total assets
34,859
35,329
36,751
-1.3%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.