SLB (SLB) FY2011 results: revenue $36.6 billion, up 37.1% on the year
SLB Limited (SLB) reported revenue of $36.6 billion for fiscal 2011, the year ended 31 December 2011, up 37.1% on the year before. Net income was $5.0 billion, up 17.1%, and diluted earnings per share $3.67. The figures are the company's own, from the 10-K it filed with the SEC on 1 February 2012.
Revenue
$36.6 billion
+37.1% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$5.0 billion
+17.1% on the year
FY2007FY2011
Diluted EPS
$3.67
+8.6% on the year
FY2007FY2011
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
36,579
26,672
22,702
+37.1%
Cost of revenue
28,802
21,097
17,245
+36.5%
Gross profit
7,777
5,575
5,457
+39.5%
Gross margin
21.3%
20.9%
24.0%
Research and development
1,061
919
802
+15.5%
Interest expense
298
207
221
+44.0%
Pre-tax income
6,239
5,132
3,156
+21.6%
Income tax
1,492
879
770
+69.7%
Effective tax rate
23.9%
17.1%
24.4%
Net income
4,997
4,267
3,134
+17.1%
Net margin
13.7%
16.0%
13.8%
Diluted EPS
$3.67
$3.38
$2.59
+8.6%
$ 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
5,880
5,509
5,311
+6.7%
Capital expenditure
4,004
2,914
2,395
+37.4%
Free cash flow
1,876
2,595
2,916
-27.7%
Free cash flow margin
5.1%
9.7%
12.8%
Cash from investing
-3,898
-2,938
-4,070
Cash from financing
-2,700
-1,409
-1,188
Depreciation and amortisation
3,274
2,759
2,476
+18.7%
Share-based compensation
272
198
186
+37.4%
Dividends paid
1,300
1,040
1,006
+25.0%
Dividend per share
n/a
$0.84
$0.84
Diluted shares, weighted
1,361m
1,263m
1,214m
+7.8%
Shares outstanding at period end
1,334m
1,361m
1,195m
-2.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
31,263
31,226
19,120
+0.1%
Non-controlling interest
129
218
109
-40.8%
Short-term borrowings
n/a
n/a
360
Debt
9,933
8,112
321
+22.4%
Other liabilities
13,876
12,211
13,555
+13.6%
Total liabilities and equity
55,201
51,767
33,465
+6.6%
Fixed assets
12,993
12,071
9,660
+7.6%
Goodwill
14,154
13,952
5,305
+1.4%
Intangible assets
4,882
5,162
786
-5.4%
Investments
3,122
2,100
3,999
+48.7%
Cash and equivalents
1,705
1,764
617
-3.3%
Receivables
9,500
8,278
6,088
+14.8%
Inventory
4,700
3,804
1,866
+23.6%
Other assets
4,145
4,636
5,144
-10.6%
Total assets
55,201
51,767
33,465
+6.6%
10-K for the year ended 31 December 2011, filed 1 February 2012: the filing.