Parker-Hannifin (PH) FY2013 results: revenue $13.0 billion, down 1.0% on the year
Parker-Hannifin Corp. (PH) reported revenue of $13.0 billion for fiscal 2013, the year ended 30 June 2013, down 1.0% on the year before. Net income was $948 million, down 17.7%, and diluted earnings per share $6.26. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2014.
Revenue
$13.0 billion
-1.0% on the year
FY2008FY2013
Operating margin
13.8%
15.2% a year earlier
FY2008FY2013
Net income
$948 million
-17.7% on the year
FY2008FY2013
Diluted EPS
$6.26
-16.0% 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
13,016
13,146
12,346
-1.0%
Cost of revenue
10,087
9,958
9,387
+1.3%
Gross profit
2,929
3,188
2,958
-8.1%
Gross margin
22.5%
24.2%
24.0%
Research and development
407
366
359
+11.2%
Selling, general and administrative
1,555
1,519
1,468
+2.3%
Operating income
1,791
2,003
1,823
-10.5%
Operating margin
13.8%
15.2%
14.8%
Interest expense
91.6
92.8
99.7
-1.3%
Pre-tax income
1,311
1,577
1,414
-16.9%
Income tax
362
421
357
-14.0%
Effective tax rate
27.6%
26.7%
25.2%
Net income
948
1,152
1,049
-17.7%
Net margin
7.3%
8.8%
8.5%
Diluted EPS
$6.26
$7.45
$6.37
-16.0%
$ 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
1,191
1,530
1,167
-22.2%
Capital expenditure
266
219
207
+21.5%
Free cash flow
925
1,312
960
-29.5%
Free cash flow margin
7.1%
10.0%
7.8%
Cash from investing
-810
-376
-245
Cash from financing
576
-824
-916
Depreciation and amortisation
332
318
337
+4.6%
Share-based compensation
85.0
80.9
73.2
+5.0%
Buybacks
258
457
693
-43.5%
Dividends paid
255
241
206
+6.0%
Dividend per share
$1.70
$1.54
$1.25
+10.4%
Diluted shares, weighted
152m
155m
165m
-2.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
5,738
4,897
5,384
+17.2%
Non-controlling interest
3.1
9.2
104
-66.8%
Debt
2,830
1,729
1,766
+63.7%
Other liabilities
3,970
4,536
3,633
-12.5%
Total liabilities and equity
12,541
11,170
10,887
+12.3%
Fixed assets
1,808
1,720
1,797
+5.1%
Goodwill
3,224
2,926
3,009
+10.2%
Intangible assets
1,290
1,095
1,178
+17.8%
Investments
0.0
n/a
n/a
Cash and equivalents
1,781
838
657
+112.5%
Inventory
1,377
1,401
1,412
-1.7%
Other assets
3,060
3,190
2,833
-4.1%
Total assets
12,541
11,170
10,887
+12.3%
10-K for the year ended 30 June 2013, filed 22 August 2014: the filing.