Teva Pharmaceutical Industries (TEVA) FY2013 results: revenue $20.3 billion, unchanged on the year
Teva Pharmaceutical Industries Ltd. (TEVA) reported revenue of $20.3 billion for fiscal 2013, the year ended 31 December 2013, unchanged on the year before. Net income was $1.3 billion, down 35.4%, and diluted earnings per share $1.49. The figures are the company's own, from the 20-F it filed with the SEC on 10 February 2014.
Revenue
$20.3 billion
-0.0% on the year
FY2007FY2013
Operating margin
8.1%
10.9% a year earlier
FY2007FY2013
Net income
$1.3 billion
-35.4% on the year
FY2007FY2013
Diluted EPS
$1.49
-33.8% 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
20,314
20,317
18,312
-0.0%
Cost of revenue
9,607
9,665
8,797
-0.6%
Gross profit
10,707
10,652
9,515
+0.5%
Gross margin
52.7%
52.4%
52.0%
Research and development
5.0
73.0
15.0
-93.2%
Operating income
1,649
2,205
3,109
-25.2%
Operating margin
8.1%
10.9%
17.0%
Interest expense
314
355
234
-11.5%
Pre-tax income
1,250
1,819
2,956
-31.3%
Income tax
-43.0
-137
127
Effective tax rate
-3.4%
-7.5%
4.3%
Net income
1,269
1,963
2,759
-35.4%
Net margin
6.2%
9.7%
15.1%
Diluted EPS
$1.49
$2.25
$3.09
-33.8%
$ 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
3,237
4,572
4,134
-29.2%
Capital expenditure
1,031
1,104
1,053
-6.6%
Free cash flow
2,206
3,468
3,081
-36.4%
Free cash flow margin
10.9%
17.1%
16.8%
Cash from investing
-1,147
-1,134
-7,601
Cash from financing
-3,883
-1,678
3,336
Depreciation and amortisation
1,642
1,708
1,069
-3.9%
Share-based compensation
64.0
82.0
91.0
-22.0%
Buybacks
497
1,161
899
-57.2%
Dividends paid
1,089
855
800
+27.4%
Dividend per share
$1.28
$1.03
$0.89
+24.3%
Diluted shares, weighted
850m
873m
893m
-2.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
22,565
22,768
22,195
-0.9%
Non-controlling interest
71.0
99.0
148
-28.3%
Debt
11,203
14,143
11,394
-20.8%
Other liabilities
13,669
13,599
16,405
+0.5%
Total liabilities and equity
47,508
50,609
50,142
-6.1%
Fixed assets
6,635
6,315
5,947
+5.1%
Goodwill
18,981
18,856
18,293
+0.7%
Intangible assets
6,476
7,745
10,316
-16.4%
Cash and equivalents
1,038
2,879
1,096
-63.9%
Receivables
5,338
5,572
6,213
-4.2%
Inventory
5,053
5,502
5,012
-8.2%
Other assets
3,987
3,740
3,265
+6.6%
Total assets
47,508
50,609
50,142
-6.1%
20-F for the year ended 31 December 2013, filed 10 February 2014: the filing.