Pentair (PNR) FY2013 results: revenue $7.0 billion, up 62.5% on the year
Pentair plc (PNR) reported revenue of $7.0 billion for fiscal 2013, the year ended 31 December 2013, up 62.5% on the year before. Net income was $537 million, and diluted earnings per share $2.62. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2014.
Revenue
$7.0 billion
+62.5% on the year
FY2008FY2013
Operating margin
10.6%
-0.1% a year earlier
FY2008FY2013
Net income
$537 million
FY2008FY2013
Diluted EPS
$2.62
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
7,000
4,307
3,457
+62.5%
Cost of revenue
4,630
3,041
2,383
+52.2%
Gross profit
2,370
1,266
1,074
+87.2%
Gross margin
33.9%
29.4%
31.1%
Research and development
123
92.3
78.2
+33.0%
Selling, general and administrative
1,494
1,118
695
+33.6%
Operating income
743
-4.8
100
Operating margin
10.6%
-0.1%
2.9%
Interest expense
75.3
70.2
60.3
+7.3%
Pre-tax income
694
-146
43.2
Income tax
177
-67.2
46.4
Effective tax rate
25.5%
n/a
107.4%
Net income
537
-107
-7.5
Net margin
7.7%
-2.5%
-0.2%
Diluted EPS
$2.62
-$0.84
-$0.08
$ 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
928
43.7
320
+2,023.3%
Capital expenditure
170
94.5
73.3
+79.8%
Free cash flow
758
-50.8
247
Free cash flow margin
10.8%
-1.2%
7.1%
Cash from investing
-211
376
-808
Cash from financing
-719
-232
504
Depreciation and amortisation
275
160
108
+72.0%
Share-based compensation
31.1
35.8
19.5
-13.2%
Buybacks
716
334
12.8
+114.2%
Dividends paid
194
112
79.5
+72.8%
Dividend per share
$0.96
$0.88
$0.80
+9.1%
Diluted shares, weighted
205m
127m
98m
+60.6%
Shares outstanding at period end
n/a
n/a
99m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,095
6,367
1,933
-4.3%
Non-controlling interest
122
116
114
+5.1%
Debt
2,555
2,457
1,309
+4.0%
Other liabilities
2,970
2,942
1,230
+1.0%
Total liabilities and equity
11,743
11,883
4,586
-1.2%
Fixed assets
1,044
1,188
388
-12.1%
Goodwill
4,861
4,838
2,274
+0.5%
Intangible assets
1,750
1,927
592
-9.2%
Cash and equivalents
256
237
50.1
+7.8%
Inventory
1,195
1,334
450
-10.4%
Other assets
2,637
2,359
833
+11.8%
Total assets
11,743
11,883
4,586
-1.2%
10-K for the year ended 31 December 2013, filed 25 February 2014: the filing.