Nasdaq (NDAQ) FY2012 results: revenue $3.1 billion, down 9.3% on the year
Nasdaq, Inc. (NDAQ) reported revenue of $3.1 billion for fiscal 2012, the year ended 31 December 2012, down 9.3% on the year before. Net income was $352 million, down 9.0%, and diluted earnings per share $0.68. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$3.1 billion
-9.3% on the year
FY2008FY2012
Operating margin
22.1%
20.2% a year earlier
FY2008FY2012
Net income
$352 million
-9.0% on the year
FY2008FY2012
Diluted EPS
$0.68
-5.1% on the year
FY2008FY2012
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
3,119
3,438
3,197
-9.3%
Cost of revenue
1,446
1,748
1,675
-17.3%
Gross profit
1,674
1,690
1,516
-0.9%
Gross margin
53.7%
49.2%
47.4%
Operating income
690
696
631
-0.9%
Operating margin
22.1%
20.2%
19.7%
Interest expense
97.0
119
102
-18.5%
Pre-tax income
548
573
526
-4.4%
Income tax
199
190
137
+4.7%
Effective tax rate
36.3%
33.2%
26.0%
Net income
352
387
395
-9.0%
Net margin
11.3%
11.3%
12.4%
Diluted EPS
$0.68
$0.72
$0.64
-5.1%
$ 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
594
669
440
-11.2%
Capital expenditure
87.0
88.0
42.0
-1.1%
Free cash flow
507
581
398
-12.7%
Free cash flow margin
16.3%
16.9%
12.4%
Cash from investing
-128
-146
-118
Cash from financing
-485
-325
-595
Depreciation and amortisation
52.0
54.0
46.0
-3.7%
Share-based compensation
46.0
36.0
33.0
+27.8%
Buybacks
275
100
797
+175.0%
Dividends paid
65.0
n/a
n/a
Dividend per share
$0.13
n/a
n/a
Diluted shares, weighted
518m
540m
620m
-4.1%
Shares outstanding at period end
497m
521m
527m
-4.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
5,208
4,976
4,718
+4.7%
Non-controlling interest
1.0
10.0
11.0
-90.0%
Debt
1,976
5,862
5,762
-66.3%
Other liabilities
1,947
3,243
5,716
-40.0%
Total liabilities and equity
9,132
14,091
16,207
-35.2%
Fixed assets
211
193
164
+9.3%
Goodwill
5,335
5,061
5,127
+5.4%
Intangible assets
1,650
1,648
1,719
+0.1%
Investments
223
279
253
-20.1%
Trading assets
201
n/a
n/a
Cash and equivalents
497
506
315
-1.8%
Receivables
333
308
298
+8.1%
Other assets
682
6,096
8,331
-88.8%
Total assets
9,132
14,091
16,207
-35.2%
10-K for the year ended 31 December 2012, filed 21 February 2013: the filing.