Merck (MRK) FY2012 results: revenue $47.3 billion, down 1.6% on the year
Merck & Co., Inc. (MRK) reported revenue of $47.3 billion for fiscal 2012, the year ended 31 December 2012, down 1.6% on the year before. Net income was $6.2 billion, down 1.7%, and diluted earnings per share $2.00. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$47.3 billion
-1.6% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$6.2 billion
-1.7% on the year
FY2007FY2012
Diluted EPS
$2.00
-1.0% 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
47,267
48,047
45,987
-1.6%
Cost of revenue
16,446
16,871
18,396
-2.5%
Gross profit
30,821
31,176
27,591
-1.1%
Gross margin
65.2%
64.9%
60.0%
Research and development
8,168
8,467
11,111
-3.5%
Selling, general and administrative
12,776
13,733
13,125
-7.0%
Interest expense
714
695
715
+2.7%
Pre-tax income
8,739
7,334
1,653
+19.2%
Income tax
2,440
942
671
+159.0%
Effective tax rate
27.9%
12.8%
40.6%
Net income
6,168
6,272
861
-1.7%
Net margin
13.0%
13.1%
1.9%
Diluted EPS
$2.00
$2.02
$0.28
-1.0%
$ 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
10,022
12,383
10,822
-19.1%
Capital expenditure
1,954
1,723
1,678
+13.4%
Free cash flow
8,068
10,660
9,144
-24.3%
Free cash flow margin
17.1%
22.2%
19.9%
Cash from investing
-6,805
-2,890
-3,497
Cash from financing
-3,267
-6,904
-5,441
Depreciation and amortisation
6,978
7,427
7,381
-6.0%
Share-based compensation
335
369
509
-9.2%
Buybacks
2,591
1,921
1,593
+34.9%
Dividends paid
5,116
4,691
4,734
+9.1%
Dividend per share
$1.69
$1.56
$1.52
+8.3%
Diluted shares, weighted
3,076m
3,094m
3,120m
-0.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
53,020
54,517
54,376
-2.7%
Non-controlling interest
2,443
2,426
2,429
+0.7%
Debt
20,569
17,515
17,882
+17.4%
Other liabilities
30,100
30,670
31,094
-1.9%
Total liabilities and equity
106,132
105,128
105,781
+1.0%
Fixed assets
16,030
16,297
17,082
-1.6%
Goodwill
12,134
12,155
12,378
-0.2%
Intangible assets
29,083
34,302
39,456
-15.2%
Investments
9,995
4,899
3,476
+104.0%
Cash and equivalents
13,451
13,531
10,900
-0.6%
Receivables
7,672
8,261
7,344
-7.1%
Inventory
6,535
6,254
5,868
+4.5%
Other assets
11,232
9,429
9,277
+19.1%
Total assets
106,132
105,128
105,781
+1.0%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.