SM Energy (SM) FY2013 results: revenue $2.3 billion, up 52.4% on the year
SM Energy Co. (SM) reported revenue of $2.3 billion for fiscal 2013, the year ended 31 December 2013, up 52.4% on the year before. Net income was $171 million, and diluted earnings per share $2.51. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2014.
Revenue
$2.3 billion
+52.4% on the year
FY2008FY2013
Operating margin
16.1%
-1.3% a year earlier
FY2008FY2013
Net income
$171 million
FY2008FY2013
Diluted EPS
$2.51
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
2,293
1,505
1,603
+52.4%
Operating income
368
-20.0
384
Operating margin
16.1%
-1.3%
24.0%
Interest expense
89.7
63.7
45.8
+40.8%
Pre-tax income
279
-83.5
339
Income tax
108
-29.3
124
Effective tax rate
38.6%
n/a
36.5%
Net income
171
-54.2
215
Net margin
7.5%
-3.6%
13.4%
Diluted EPS
$2.51
-$0.83
$3.19
$ 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
1,339
922
761
+45.2%
Cash from investing
-1,193
-1,457
-1,265
Cash from financing
131
422
618
-69.0%
Share-based compensation
32.3
30.2
26.8
+7.2%
Dividends paid
6.7
6.5
6.4
+2.3%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
68m
65m
68m
+4.4%
Shares outstanding at period end
67m
66m
64m
+1.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,607
1,414
1,463
+13.6%
Debt
1,600
1,440
285
+11.1%
Other liabilities
1,498
1,345
2,051
+11.4%
Total liabilities and equity
4,705
4,200
3,799
+12.0%
Fixed assets
3,860
3,677
3,097
+5.0%
Intangible assets
10.8
10.8
7.1
0.0%
Cash and equivalents
282
5.9
119
+4,662.9%
Receivables
318
255
210
+24.9%
Other assets
234
251
366
-6.7%
Total assets
4,705
4,200
3,799
+12.0%
10-K for the year ended 31 December 2013, filed 19 February 2014: the filing.