S&P Global (SPGI) FY2012 results: revenue $4.3 billion, up 8.0% on the year
S&P Global Inc. (SPGI) reported revenue of $4.3 billion for fiscal 2012, the year ended 31 December 2012, up 8.0% on the year before. Net income was $437 million, down 52.0%, and diluted earnings per share $1.53. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$4.3 billion
+8.0% on the year
FY2007FY2012
Operating margin
27.4%
27.2% a year earlier
FY2007FY2012
Net income
$437 million
-52.0% on the year
FY2007FY2012
Diluted EPS
$1.53
-49.0% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
4,270
3,954
3,639
+8.0%
Cost of revenue
1,433
1,387
1,206
+3.3%
Gross profit
2,837
2,567
2,433
+10.5%
Gross margin
66.4%
64.9%
66.9%
Selling, general and administrative
1,578
1,377
1,318
+14.6%
Operating income
1,170
1,077
1,026
+8.6%
Operating margin
27.4%
27.2%
28.2%
Interest expense
81.0
77.0
83.0
+5.2%
Pre-tax income
1,089
1,000
943
+8.9%
Income tax
388
374
344
+3.7%
Effective tax rate
35.6%
37.4%
36.5%
Net income
437
911
828
-52.0%
Net margin
10.2%
23.0%
22.8%
Diluted EPS
$1.53
$3.00
$2.65
-49.0%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
730
924
704
-21.0%
Capital expenditure
96.0
92.0
86.0
+4.3%
Free cash flow
634
832
618
-23.8%
Free cash flow margin
14.8%
21.0%
17.0%
Cash from investing
-246
-271
-386
Cash from financing
-905
-1,660
-530
Depreciation and amortisation
141
126
108
+11.9%
Share-based compensation
90.0
77.0
51.0
+16.9%
Buybacks
295
1,500
256
-80.3%
Dividends paid
984
296
292
+232.4%
Dividend per share
$1.02
$1.00
$0.94
+2.0%
Diluted shares, weighted
285m
304m
312m
-6.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
767
1,508
2,210
-49.1%
Non-controlling interest
73.0
76.0
81.1
-3.9%
Redeemable equity
810
0.0
n/a
Short-term borrowings
n/a
n/a
0.0
Debt
1,256
1,198
1,198
+4.8%
Other liabilities
4,146
3,838
3,557
+8.0%
Total liabilities and equity
7,052
6,620
7,047
+6.5%
Fixed assets
368
373
522
-1.3%
Goodwill
1,435
1,104
943
+30.0%
Intangible assets
1,081
427
616
+153.2%
Investments
1.0
29.0
22.0
-96.6%
Cash and equivalents
760
835
1,416
-9.0%
Receivables
954
702
973
+35.9%
Inventory
n/a
263
275
Other assets
2,453
2,887
2,279
-15.0%
Total assets
7,052
6,620
7,047
+6.5%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.