Pg&E (PCG) FY2013 results: revenue $15.6 billion, up 3.7% on the year
Pg&E Corp. (PCG) reported revenue of $15.6 billion for fiscal 2013, the year ended 31 December 2013, up 3.7% on the year before. Net income was $814 million, down 0.2%, and diluted earnings per share $1.83. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2014.
Revenue
$15.6 billion
+3.7% on the year
FY2007FY2013
Operating margin
11.3%
11.3% a year earlier
FY2007FY2013
Net income
$814 million
-0.2% on the year
FY2007FY2013
Diluted EPS
$1.83
-4.7% 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
15,598
15,040
14,956
+3.7%
Operating income
1,762
1,693
1,942
+4.1%
Operating margin
11.3%
11.3%
13.0%
Interest expense
715
703
700
+1.7%
Pre-tax income
1,096
1,067
1,298
+2.7%
Income tax
268
237
440
+13.1%
Effective tax rate
24.5%
22.2%
33.9%
Net income
814
816
844
-0.2%
Net margin
5.2%
5.4%
5.6%
Diluted EPS
$1.83
$1.92
$2.10
-4.7%
$ 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
3,427
4,882
3,739
-29.8%
Capital expenditure
5,207
4,624
4,038
+12.6%
Free cash flow
-1,780
258
-299
Free cash flow margin
-11.4%
1.7%
-2.0%
Cash from investing
-5,107
-4,526
-3,986
Cash from financing
1,575
-468
469
Share-based compensation
64.0
57.0
26.0
+12.3%
Dividends paid
782
746
704
+4.8%
Dividend per share
n/a
$1.82
$1.82
Diluted shares, weighted
445m
425m
402m
+4.7%
Shares outstanding at period end
457m
431m
412m
+6.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
14,342
13,074
12,101
+9.7%
Non-controlling interest
252
252
252
0.0%
Debt
14,780
13,409
13,886
+10.2%
Other liabilities
26,231
25,714
23,511
+2.0%
Total liabilities and equity
55,605
52,449
49,750
+6.0%
Fixed assets
41,252
37,523
33,655
+9.9%
Intangible assets
n/a
n/a
3.0
Securities held for sale or to maturity
1,103
1,052
1,057
+4.8%
Cash and equivalents
296
401
513
-26.2%
Receivables
1,091
937
992
+16.4%
Inventory
137
135
159
+1.5%
Other assets
11,726
12,401
13,371
-5.4%
Total assets
55,605
52,449
49,750
+6.0%
10-K for the year ended 31 December 2013, filed 11 February 2014: the filing.