S&P Global (SPGI) FY2013 results: revenue $4.7 billion, up 10.1% on the year
S&P Global Inc. (SPGI) reported revenue of $4.7 billion for fiscal 2013, the year ended 31 December 2013, up 10.1% on the year before. Net income was $1.4 billion, up 214.9%, and diluted earnings per share $4.91. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2014.
Revenue
$4.7 billion
+10.1% on the year
FY2007FY2013
Operating margin
28.9%
27.4% a year earlier
FY2007FY2013
Net income
$1.4 billion
+214.9% on the year
FY2007FY2013
Diluted EPS
$4.91
+220.9% 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
4,702
4,270
3,954
+10.1%
Cost of revenue
1,564
1,433
1,387
+9.1%
Gross profit
3,138
2,837
2,567
+10.6%
Gross margin
66.7%
66.4%
64.9%
Selling, general and administrative
1,631
1,578
1,377
+3.4%
Operating income
1,358
1,170
1,077
+16.1%
Operating margin
28.9%
27.4%
27.2%
Interest expense
59.0
81.0
77.0
-27.2%
Pre-tax income
1,299
1,089
1,000
+19.3%
Income tax
425
388
374
+9.5%
Effective tax rate
32.7%
35.6%
37.4%
Net income
1,376
437
911
+214.9%
Net margin
29.3%
10.2%
23.0%
Diluted EPS
$4.91
$1.53
$3.00
+220.9%
$ 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
782
730
924
+7.1%
Capital expenditure
117
96.0
92.0
+21.9%
Free cash flow
665
634
832
+4.9%
Free cash flow margin
14.1%
14.8%
21.0%
Cash from investing
-130
-246
-271
Cash from financing
-1,743
-905
-1,660
Depreciation and amortisation
137
141
126
-2.8%
Share-based compensation
96.0
90.0
77.0
+6.7%
Buybacks
978
295
1,500
+231.5%
Dividends paid
308
984
296
-68.7%
Dividend per share
$1.12
$1.02
$1.00
+9.8%
Diluted shares, weighted
280m
285m
304m
-1.7%
Shares outstanding at period end
270m
n/a
n/a
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,301
767
1,508
+69.6%
Non-controlling interest
43.0
73.0
76.0
-41.1%
Redeemable equity
810
810
0.0
0.0%
Debt
799
1,256
1,198
-36.4%
Other liabilities
3,108
4,146
3,838
-25.0%
Total liabilities and equity
6,061
7,052
6,620
-14.1%
Fixed assets
249
368
373
-32.3%
Goodwill
1,409
1,435
1,104
-1.8%
Intangible assets
1,033
1,081
427
-4.4%
Investments
18.0
1.0
29.0
+1,700.0%
Cash and equivalents
1,542
760
835
+102.9%
Receivables
949
954
702
-0.5%
Inventory
n/a
n/a
263
Other assets
861
2,453
2,887
-64.9%
Total assets
6,061
7,052
6,620
-14.1%
10-K for the year ended 31 December 2013, filed 7 February 2014: the filing.