Republic Services (RSG) FY2013 results: revenue $8.4 billion, up 3.7% on the year
Republic Services, Inc. (RSG) reported revenue of $8.4 billion for fiscal 2013, the year ended 31 December 2013, up 3.7% on the year before. Net income was $589 million, up 3.0%, and diluted earnings per share $1.62. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$8.4 billion
+3.7% on the year
FY2007FY2013
Operating margin
14.4%
16.3% a year earlier
FY2007FY2013
Net income
$589 million
+3.0% on the year
FY2007FY2013
Diluted EPS
$1.62
+4.5% 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
8,417
8,118
8,193
+3.7%
Cost of revenue
5,235
5,006
4,865
+4.6%
Gross profit
3,182
3,113
3,328
+2.2%
Gross margin
37.8%
38.3%
40.6%
Selling, general and administrative
854
821
825
+4.0%
Operating income
1,210
1,321
1,553
-8.4%
Operating margin
14.4%
16.3%
19.0%
Interest expense
360
388
440
-7.3%
Pre-tax income
851
824
906
+3.3%
Income tax
262
252
317
+4.1%
Effective tax rate
30.8%
30.6%
35.0%
Net income
589
572
589
+3.0%
Net margin
7.0%
7.0%
7.2%
Diluted EPS
$1.62
$1.55
$1.56
+4.5%
$ 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
1,548
1,514
1,767
+2.3%
Capital expenditure
881
904
936
-2.5%
Free cash flow
667
610
830
+9.4%
Free cash flow margin
7.9%
7.5%
10.1%
Cash from investing
-934
-938
-950
Cash from financing
-469
-575
-838
Depreciation and amortisation
877
848
844
+3.4%
Share-based compensation
19.2
21.2
20.6
-9.4%
Buybacks
214
326
461
-34.2%
Dividends paid
348
329
309
+5.9%
Dividend per share
$0.99
$0.91
$0.84
+8.8%
Diluted shares, weighted
363m
368m
378m
-1.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
7,904
7,703
7,681
+2.6%
Non-controlling interest
2.6
2.4
2.1
+8.3%
Debt
7,018
7,070
6,922
-0.7%
Other liabilities
4,979
4,841
4,946
+2.9%
Total liabilities and equity
19,903
19,617
19,552
+1.5%
Fixed assets
7,037
6,910
6,792
+1.8%
Goodwill
10,724
10,690
10,647
+0.3%
Intangible assets
316
359
410
-12.0%
Cash and equivalents
213
67.6
66.3
+215.5%
Receivables
891
837
826
+6.5%
Inventory
37.8
34.5
35.2
+9.6%
Other assets
685
719
775
-4.8%
Total assets
19,903
19,617
19,552
+1.5%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.