Teva Pharmaceutical Industries (TEVA) FY2012 results: revenue $20.3 billion, up 10.9% on the year
Teva Pharmaceutical Industries Ltd. (TEVA) reported revenue of $20.3 billion for fiscal 2012, the year ended 31 December 2012, up 10.9% on the year before. Net income was $2.0 billion, down 28.9%, and diluted earnings per share $2.25. The figures are the company's own, from the 20-F it filed with the SEC on 12 February 2013.
Revenue
$20.3 billion
+10.9% on the year
FY2007FY2012
Operating margin
10.9%
17.0% a year earlier
FY2007FY2012
Net income
$2.0 billion
-28.9% on the year
FY2007FY2012
Diluted EPS
$2.25
-27.2% 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
20,317
18,312
16,121
+10.9%
Cost of revenue
9,665
8,797
7,056
+9.9%
Gross profit
10,652
9,515
9,065
+11.9%
Gross margin
52.4%
52.0%
56.2%
Research and development
73.0
15.0
951
+386.7%
Operating income
2,205
3,109
3,871
-29.1%
Operating margin
10.9%
17.0%
24.0%
Interest expense
355
234
202
+51.7%
Pre-tax income
1,819
2,956
3,646
-38.5%
Income tax
-137
127
283
Effective tax rate
-7.5%
4.3%
7.8%
Net income
1,963
2,759
3,331
-28.9%
Net margin
9.7%
15.1%
20.7%
Diluted EPS
$2.25
$3.09
$3.67
-27.2%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
4,572
4,134
4,136
+10.6%
Capital expenditure
1,104
1,053
710
+4.8%
Free cash flow
3,468
3,081
3,426
+12.6%
Free cash flow margin
17.1%
16.8%
21.3%
Cash from investing
-1,134
-7,601
-5,455
Cash from financing
-1,678
3,336
573
Depreciation and amortisation
1,708
1,069
977
+59.8%
Share-based compensation
82.0
91.0
80.0
-9.9%
Buybacks
1,161
899
99.0
+29.1%
Dividends paid
855
800
668
+6.9%
Dividend per share
$1.03
$0.89
$0.74
+15.7%
Diluted shares, weighted
873m
893m
921m
-2.2%
Shares outstanding at period end
n/a
n/a
937m
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
22,768
22,195
21,947
+2.6%
Non-controlling interest
99.0
148
55.0
-33.1%
Debt
14,143
11,394
4,800
+24.1%
Other liabilities
13,599
16,405
11,350
-17.1%
Total liabilities and equity
50,609
50,142
38,152
+0.9%
Fixed assets
6,315
5,947
4,357
+6.2%
Goodwill
18,856
18,293
15,232
+3.1%
Intangible assets
7,745
10,316
5,751
-24.9%
Investments
n/a
n/a
36.0
Cash and equivalents
2,879
1,096
1,248
+162.7%
Receivables
5,572
6,213
5,476
-10.3%
Inventory
5,502
5,012
3,866
+9.8%
Other assets
3,740
3,265
2,186
+14.5%
Total assets
50,609
50,142
38,152
+0.9%
20-F for the year ended 31 December 2012, filed 12 February 2013: the filing.