RTX (RTX) FY2013 results: revenue $56.6 billion, down 1.9% on the year
RTX Corp. (RTX) reported revenue of $56.6 billion for fiscal 2013, the year ended 31 December 2013, down 1.9% on the year before. Net income was $5.7 billion, up 11.5%, and diluted earnings per share $6.25. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2014.
Revenue
$56.6 billion
-1.9% on the year
FY2007FY2013
Operating margin
15.1%
13.3% a year earlier
FY2007FY2013
Net income
$5.7 billion
+11.5% on the year
FY2007FY2013
Diluted EPS
$6.25
+10.4% 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
56,600
57,708
55,754
-1.9%
Cost of revenue
40,468
42,153
40,369
-4.0%
Gross profit
16,132
15,555
15,385
+3.7%
Gross margin
28.5%
27.0%
27.6%
Research and development
2,342
2,371
1,951
-1.2%
Selling, general and administrative
6,364
6,452
6,161
-1.4%
Operating income
8,549
7,684
7,846
+11.3%
Operating margin
15.1%
13.3%
14.1%
Pre-tax income
7,654
6,911
7,350
+10.8%
Income tax
1,999
1,711
2,134
+16.8%
Effective tax rate
26.1%
24.8%
29.0%
Net income
5,721
5,130
4,979
+11.5%
Net margin
10.1%
8.9%
8.9%
Diluted EPS
$6.25
$5.66
$5.49
+10.4%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
7,505
6,605
6,460
+13.6%
Capital expenditure
1,569
1,389
929
+13.0%
Free cash flow
5,936
5,216
5,531
+13.8%
Free cash flow margin
10.5%
9.0%
9.9%
Cash from investing
-1,323
-18,795
-672
Cash from financing
-5,940
8,021
-3,983
Depreciation and amortisation
1,735
1,524
1,263
+13.8%
Share-based compensation
250
210
221
+19.0%
Buybacks
1,200
0.0
2,175
Dividends paid
1,908
1,752
1,602
+8.9%
Dividend per share
$2.19
$2.03
$1.86
+8.1%
Diluted shares, weighted
915m
907m
907m
+0.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
31,866
25,914
21,880
+23.0%
Non-controlling interest
1,353
1,155
940
+17.1%
Redeemable equity
111
238
n/a
-53.4%
Debt
20,241
23,221
10,260
-12.8%
Other liabilities
37,023
38,881
28,372
-4.8%
Total liabilities and equity
90,594
89,409
61,452
+1.3%
Fixed assets
8,866
8,518
6,201
+4.1%
Goodwill
28,168
27,801
17,943
+1.3%
Intangible assets
15,521
15,189
3,918
+2.2%
Cash and equivalents
4,607
n/a
n/a
Receivables
11,458
11,099
9,546
+3.2%
Inventory
10,330
9,537
7,797
+8.3%
Other assets
11,644
17,265
16,047
-32.6%
Total assets
90,594
89,409
61,452
+1.3%
10-K for the year ended 31 December 2013, filed 6 February 2014: the filing.