SLB (SLB) FY2013 results: revenue $45.3 billion, up 8.5% on the year
SLB Limited (SLB) reported revenue of $45.3 billion for fiscal 2013, the year ended 31 December 2013, up 8.5% on the year before. Net income was $6.7 billion, up 22.6%, and diluted earnings per share $5.05. The figures are the company's own, from the 10-K it filed with the SEC on 31 January 2014.
Revenue
$45.3 billion
+8.5% on the year
FY2007FY2013
Operating margin
20.6%
FY2007FY2013
Net income
$6.7 billion
+22.6% on the year
FY2007FY2013
Diluted EPS
$5.05
+23.2% 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
45,266
41,731
36,579
+8.5%
Cost of revenue
35,331
32,885
28,802
+7.4%
Gross profit
9,935
8,846
7,777
+12.3%
Gross margin
21.9%
21.2%
21.3%
Research and development
1,174
1,153
1,061
+1.8%
Operating income
9,344
n/a
n/a
Operating margin
20.6%
n/a
n/a
Interest expense
391
340
298
+15.0%
Pre-tax income
8,691
6,959
6,239
+24.9%
Income tax
1,848
1,700
1,492
+8.7%
Effective tax rate
21.3%
24.4%
23.9%
Net income
6,732
5,490
4,997
+22.6%
Net margin
14.9%
13.2%
13.7%
Diluted EPS
$5.05
$4.10
$3.67
+23.2%
$ 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
9,788
6,543
5,880
+49.6%
Capital expenditure
3,943
4,695
4,004
-16.0%
Free cash flow
5,845
1,848
1,876
+216.3%
Free cash flow margin
12.9%
4.4%
5.1%
Cash from investing
-5,977
-7,174
-3,898
Cash from financing
-2,199
-339
-2,700
Depreciation and amortisation
3,879
3,647
3,274
+6.4%
Share-based compensation
315
335
272
-6.0%
Dividends paid
1,608
1,432
1,300
+12.3%
Diluted shares, weighted
1,333m
1,339m
1,361m
-0.4%
Shares outstanding at period end
1,307m
1,328m
1,334m
-1.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
39,469
34,751
31,263
+13.6%
Non-controlling interest
166
107
129
+55.1%
Debt
13,176
11,630
9,933
+13.3%
Other liabilities
14,289
15,059
13,876
-5.1%
Total liabilities and equity
67,100
61,547
55,201
+9.0%
Fixed assets
15,096
14,780
12,993
+2.1%
Goodwill
14,706
14,585
14,154
+0.8%
Intangible assets
4,709
4,802
4,882
-1.9%
Investments
81.0
81.0
3,122
0.0%
Trading assets
194
n/a
n/a
Cash and equivalents
3,472
1,905
1,705
+82.3%
Receivables
11,497
11,351
9,500
+1.3%
Inventory
4,603
4,785
4,700
-3.8%
Other assets
12,742
9,258
4,145
+37.6%
Total assets
67,100
61,547
55,201
+9.0%
10-K for the year ended 31 December 2013, filed 31 January 2014: the filing.