Seagate Technology Holdings (STX) FY2013 results: revenue $14.4 billion, down 3.9% on the year
Seagate Technology Holdings plc (STX) reported revenue of $14.4 billion for fiscal 2013, the year ended 28 June 2013, down 3.9% on the year before. Net income was $1.8 billion, down 35.8%, and diluted earnings per share $4.81. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2013.
Revenue
$14.4 billion
-3.9% on the year
FY2009FY2013
Operating margin
14.6%
20.8% a year earlier
FY2009FY2013
Net income
$1.8 billion
-35.8% on the year
FY2009FY2013
Diluted EPS
$4.81
-25.9% on the year
FY2009FY2013
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
14,351
14,939
10,971
-3.9%
Cost of revenue
10,411
10,255
8,825
+1.5%
Gross profit
3,940
4,684
2,146
-15.9%
Gross margin
27.5%
31.4%
19.6%
Research and development
1,133
1,006
875
+12.6%
Selling, general and administrative
635
528
445
+20.3%
Operating income
2,091
3,108
806
-32.7%
Operating margin
14.6%
20.8%
7.3%
Interest expense
214
241
214
-11.2%
Pre-tax income
1,831
2,882
579
-36.5%
Income tax
-7.0
20.0
68.0
Effective tax rate
-0.4%
0.7%
11.7%
Net income
1,838
2,862
511
-35.8%
Net margin
12.8%
19.2%
4.7%
Diluted EPS
$4.81
$6.49
$1.09
-25.9%
$ 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
3,047
3,262
1,264
-6.6%
Capital expenditure
786
636
843
+23.6%
Free cash flow
2,261
2,626
421
-13.9%
Free cash flow margin
15.8%
17.6%
3.8%
Cash from investing
-825
-1,114
-981
Cash from financing
-2,222
-3,118
131
Depreciation and amortisation
873
814
754
+7.2%
Share-based compensation
76.0
51.0
51.0
+49.0%
Buybacks
1,654
2,426
822
-31.8%
Dividends paid
518
372
74.0
+39.2%
Dividend per share
$1.40
$0.86
$0.18
+62.8%
Diluted shares, weighted
382m
441m
467m
-13.4%
Shares outstanding at period end
359m
396m
425m
-9.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,495
3,497
2,463
-0.1%
Non-controlling interest
11.0
0.0
n/a
Debt
2,777
2,869
3,525
-3.2%
Other liabilities
2,960
3,740
3,237
-20.9%
Total liabilities and equity
9,243
10,106
9,225
-8.5%
Fixed assets
2,269
2,284
2,245
-0.7%
Goodwill
476
463
31.0
+2.8%
Intangible assets
405
506
1.0
-20.0%
Investments
495
426
490
+16.2%
Trading assets
79.0
n/a
n/a
Cash and equivalents
1,708
1,707
2,677
+0.1%
Receivables
1,670
2,319
1,495
-28.0%
Inventory
854
909
872
-6.1%
Other assets
1,287
1,492
1,414
-13.7%
Total assets
9,243
10,106
9,225
-8.5%
10-K for the year ended 28 June 2013, filed 8 August 2013: the filing.