ONEOK (OKE) FY2013 results: revenue $11.9 billion, up 16.6% on the year
ONEOK Inc. (OKE) reported revenue of $11.9 billion for fiscal 2013, the year ended 31 December 2013, up 16.6% on the year before. Net income was $267 million, down 26.1%, and diluted earnings per share $1.27. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$11.9 billion
+16.6% on the year
FY2007FY2013
Operating margin
7.4%
9.4% a year earlier
FY2007FY2013
Net income
$267 million
-26.1% on the year
FY2007FY2013
Diluted EPS
$1.27
-25.7% 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
11,872
10,184
11,325
+16.6%
Cost of revenue
10,222
8,540
9,745
+19.7%
Gross profit
1,650
1,644
1,580
+0.4%
Gross margin
13.9%
16.1%
13.9%
Operating income
881
953
922
-7.6%
Operating margin
7.4%
9.4%
8.1%
Interest expense
271
238
240
+13.9%
Pre-tax income
755
859
806
-12.0%
Income tax
166
181
162
-8.1%
Effective tax rate
22.0%
21.1%
20.0%
Net income
267
361
361
-26.1%
Net margin
2.2%
3.5%
3.2%
Diluted EPS
$1.27
$1.71
$1.68
-25.7%
$ 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
1,295
984
1,356
+31.6%
Capital expenditure
2,257
1,866
1,336
+20.9%
Free cash flow
-962
-882
20.1
Free cash flow margin
-8.1%
-8.7%
0.2%
Cash from investing
-2,642
-1,814
-1,372
Cash from financing
913
1,339
59.2
-31.8%
Depreciation and amortisation
239
205
180
+16.6%
Share-based compensation
46.2
36.7
66.4
+25.9%
Buybacks
0.0
150
300
Dividends paid
305
262
227
+16.3%
Dividend per share
$1.48
$1.27
$1.08
+16.5%
Diluted shares, weighted
210m
211m
214m
-0.5%
Shares outstanding at period end
207m
205m
207m
+0.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,338
2,130
2,239
+9.8%
Non-controlling interest
2,507
2,103
1,561
+19.2%
Debt
8,329
7,343
5,736
+13.4%
Other liabilities
4,534
4,325
4,161
+4.8%
Total liabilities and equity
17,708
15,901
13,697
+11.4%
Fixed assets
9,232
7,265
8,444
+27.1%
Goodwill
526
434
602
+21.2%
Intangible assets
499
405
412
+23.3%
Cash and equivalents
146
577
56.7
-74.8%
Receivables
1,110
935
1,340
+18.6%
Inventory
188
236
550
-20.2%
Other assets
6,008
6,050
2,292
-0.7%
Total assets
17,708
15,901
13,697
+11.4%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.