Nasdaq (NDAQ) FY2013 results: revenue $3.2 billion, up 2.9% on the year
Nasdaq, Inc. (NDAQ) reported revenue of $3.2 billion for fiscal 2013, the year ended 31 December 2013, up 2.9% on the year before. Net income was $385 million, up 9.4%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$3.2 billion
+2.9% on the year
FY2008FY2013
Operating margin
21.4%
22.1% a year earlier
FY2008FY2013
Net income
$385 million
+9.4% on the year
FY2008FY2013
Diluted EPS
$0.75
+10.3% 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
3,211
3,119
3,438
+2.9%
Cost of revenue
1,316
1,446
1,748
-9.0%
Gross profit
1,895
1,674
1,690
+13.2%
Gross margin
59.0%
53.7%
49.2%
Operating income
688
690
696
-0.3%
Operating margin
21.4%
22.1%
20.2%
Interest expense
111
97.0
119
+14.4%
Pre-tax income
600
548
573
+9.5%
Income tax
216
199
190
+8.5%
Effective tax rate
36.0%
36.3%
33.2%
Net income
385
352
387
+9.4%
Net margin
12.0%
11.3%
11.3%
Diluted EPS
$0.75
$0.68
$0.72
+10.3%
$ 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
574
594
669
-3.4%
Capital expenditure
115
87.0
88.0
+32.2%
Free cash flow
459
507
581
-9.5%
Free cash flow margin
14.3%
16.3%
16.9%
Cash from investing
n/a
-128
-146
Cash from financing
n/a
-485
-325
Depreciation and amortisation
59.0
52.0
54.0
+13.5%
Share-based compensation
47.0
46.0
36.0
+2.2%
Buybacks
10.0
275
100
-96.4%
Dividends paid
87.0
65.0
n/a
+33.8%
Dividend per share
$0.17
$0.13
n/a
+33.3%
Diluted shares, weighted
514m
518m
540m
-0.8%
Shares outstanding at period end
508m
497m
521m
+2.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,184
5,208
4,976
+18.7%
Non-controlling interest
n/a
1.0
10.0
Debt
2,634
1,976
5,862
+33.3%
Other liabilities
3,759
1,947
3,243
+93.1%
Total liabilities and equity
12,577
9,132
14,091
+37.7%
Fixed assets
268
211
193
+27.0%
Goodwill
6,186
5,335
5,061
+16.0%
Intangible assets
2,386
1,650
1,648
+44.6%
Investments
189
223
279
-15.2%
Trading assets
189
201
n/a
-6.0%
Cash and equivalents
398
497
506
-19.9%
Receivables
393
333
308
+18.0%
Other assets
2,568
682
6,096
+276.5%
Total assets
12,577
9,132
14,091
+37.7%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.