Parker-Hannifin (PH) FY2011 results: revenue $12.3 billion, up 23.5% on the year
Parker-Hannifin Corp. (PH) reported revenue of $12.3 billion for fiscal 2011, the year ended 30 June 2011, up 23.5% on the year before. Net income was $1.0 billion, up 89.4%, and diluted earnings per share $6.37. The figures are the company's own, from the 10-K it filed with the SEC on 26 August 2011.
Revenue
$12.3 billion
+23.5% on the year
FY2008FY2011
Operating margin
14.8%
11.4% a year earlier
FY2008FY2011
Net income
$1.0 billion
+89.4% on the year
FY2008FY2011
Diluted EPS
$6.37
+87.4% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
12,346
9,993
10,309
+23.5%
Cost of revenue
9,387
7,847
8,181
+19.6%
Gross profit
2,958
2,146
2,128
+37.9%
Gross margin
24.0%
21.5%
20.6%
Research and development
359
316
339
+13.7%
Selling, general and administrative
1,468
1,277
1,290
+14.9%
Operating income
1,823
1,143
1,004
+59.5%
Operating margin
14.8%
11.4%
9.7%
Interest expense
99.7
104
112
-3.8%
Pre-tax income
1,414
755
683
+87.3%
Income tax
357
198
173
+79.7%
Effective tax rate
25.2%
26.3%
25.3%
Net income
1,049
554
509
+89.4%
Net margin
8.5%
5.5%
4.9%
Diluted EPS
$6.37
$3.40
$3.13
+87.4%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,167
1,219
1,129
-4.3%
Capital expenditure
207
129
271
+60.4%
Free cash flow
960
1,090
858
-11.9%
Free cash flow margin
7.8%
10.9%
8.3%
Cash from investing
-245
-146
-961
Cash from financing
-916
-650
-274
Depreciation and amortisation
337
n/a
n/a
Share-based compensation
73.2
59.3
47.2
+23.5%
Buybacks
693
25.0
448
+2,672.5%
Dividends paid
206
163
162
+26.6%
Dividend per share
$1.25
$1.01
$1.00
+23.8%
Diluted shares, weighted
165m
163m
163m
+1.2%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
5,384
4,368
4,268
+23.3%
Non-controlling interest
104
91.4
82.2
+14.3%
Debt
1,766
1,777
1,890
-0.6%
Other liabilities
3,633
3,674
3,616
-1.1%
Total liabilities and equity
10,887
9,910
9,856
+9.9%
Fixed assets
1,797
1,698
1,881
+5.8%
Goodwill
3,009
2,786
2,903
+8.0%
Intangible assets
1,178
1,150
1,274
+2.4%
Cash and equivalents
657
576
188
+14.2%
Inventory
1,412
1,172
1,255
+20.5%
Other assets
2,833
2,529
2,356
+12.0%
Total assets
10,887
9,910
9,856
+9.9%
10-K for the year ended 30 June 2011, filed 26 August 2011: the filing.