Microsoft (MSFT) FY2013 results: revenue $77.8 billion, up 5.6% on the year
Microsoft Corp. (MSFT) reported revenue of $77.8 billion for fiscal 2013, the year ended 30 June 2013, up 5.6% on the year before. Net income was $21.9 billion, up 28.8%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 30 July 2013.
Revenue
$77.8 billion
+5.6% on the year
FY2008FY2013
Operating margin
34.4%
29.5% a year earlier
FY2008FY2013
Net income
$21.9 billion
+28.8% on the year
FY2008FY2013
Diluted EPS
$2.58
+29.0% on the year
FY2008FY2013
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
77,849
73,723
69,943
+5.6%
Cost of revenue
20,385
17,530
15,577
+16.3%
Gross profit
57,464
56,193
54,366
+2.3%
Gross margin
73.8%
76.2%
77.7%
Research and development
10,411
9,811
9,043
+6.1%
Operating income
26,764
21,763
27,161
+23.0%
Operating margin
34.4%
29.5%
38.8%
Interest expense
429
380
295
+12.9%
Pre-tax income
27,052
22,267
28,071
+21.5%
Income tax
5,189
5,289
4,921
-1.9%
Effective tax rate
19.2%
23.8%
17.5%
Net income
21,863
16,978
23,150
+28.8%
Net margin
28.1%
23.0%
33.1%
Diluted EPS
$2.58
$2.00
$2.69
+29.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
28,833
31,626
26,994
-8.8%
Capital expenditure
4,257
2,305
2,355
+84.7%
Free cash flow
24,576
29,321
24,639
-16.2%
Free cash flow margin
31.6%
39.8%
35.2%
Cash from investing
-23,811
-24,786
-14,616
Cash from financing
-8,148
-9,408
-8,376
Depreciation and amortisation
3,339
2,758
2,537
+21.1%
Share-based compensation
2,406
2,244
2,166
+7.2%
Buybacks
5,360
5,029
11,555
+6.6%
Dividends paid
7,455
6,385
5,180
+16.8%
Dividend per share
$0.92
$0.80
$0.64
+15.0%
Diluted shares, weighted
8,470m
8,506m
8,593m
-0.4%
Shares outstanding at period end
8,328m
8,381m
8,376m
-0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
78,944
66,363
57,083
+19.0%
Short-term borrowings
0.0
n/a
0.0
Debt
15,600
11,900
11,900
+31.1%
Other liabilities
47,887
43,008
39,721
+11.3%
Total liabilities and equity
142,431
121,271
108,704
+17.4%
Fixed assets
9,991
8,269
8,162
+20.8%
Goodwill
14,655
13,452
12,581
+8.9%
Intangible assets
3,083
3,170
744
-2.7%
Investments
84,062
65,878
54,027
+27.6%
Cash and equivalents
3,804
6,938
9,610
-45.2%
Receivables
17,486
15,780
14,987
+10.8%
Inventory
1,938
1,137
1,372
+70.4%
Other assets
7,412
6,647
7,221
+11.5%
Total assets
142,431
121,271
108,704
+17.4%
10-K for the year ended 30 June 2013, filed 30 July 2013: the filing.