Norfolk Southern (NSC) FY2013 results: revenue $11.2 billion, up 1.9% on the year
Norfolk Southern Corp. (NSC) reported revenue of $11.2 billion for fiscal 2013, the year ended 31 December 2013, up 1.9% on the year before. Net income was $1.9 billion, up 9.2%, and diluted earnings per share $6.04. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$11.2 billion
+1.9% on the year
FY2007FY2013
Operating margin
29.0%
28.3% a year earlier
FY2007FY2013
Net income
$1.9 billion
+9.2% on the year
FY2007FY2013
Diluted EPS
$6.04
+12.5% 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
11,245
11,040
11,172
+1.9%
Operating income
3,257
3,124
3,213
+4.3%
Operating margin
29.0%
28.3%
28.8%
Interest expense
525
495
455
+6.1%
Pre-tax income
2,965
2,758
2,918
+7.5%
Income tax
1,055
1,009
1,002
+4.6%
Effective tax rate
35.6%
36.6%
34.3%
Net income
1,910
1,749
1,916
+9.2%
Net margin
17.0%
15.8%
17.2%
Diluted EPS
$6.04
$5.37
$5.45
+12.5%
$ 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
3,078
3,065
3,227
+0.4%
Capital expenditure
1,971
2,241
2,160
-12.0%
Free cash flow
1,107
824
1,067
+34.3%
Free cash flow margin
9.8%
7.5%
9.6%
Cash from investing
-1,894
-1,994
-1,772
Cash from financing
-394
-694
-2,006
Share-based compensation
54.0
45.0
61.0
+20.0%
Buybacks
627
1,288
2,051
-51.3%
Dividends paid
637
624
576
+2.1%
Dividend per share
$2.04
$1.94
$1.66
+5.2%
Shares outstanding at period end
309m
314m
330m
-1.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
11,289
9,760
9,911
+15.7%
Debt
9,448
8,682
7,540
+8.8%
Other liabilities
11,746
11,900
11,087
-1.3%
Total liabilities and equity
32,483
30,342
28,538
+7.1%
Fixed assets
26,645
25,736
24,469
+3.5%
Investments
2,557
2,315
2,259
+10.5%
Cash and equivalents
1,443
653
276
+121.0%
Receivables
1,024
1,109
1,022
-7.7%
Other assets
814
529
512
+53.9%
Total assets
32,483
30,342
28,538
+7.1%
10-K for the year ended 31 December 2013, filed 14 February 2014: the filing.