Thermo Fisher Scientific (TMO) FY2012 results: revenue $12.5 billion, up 8.2% on the year
Thermo Fisher Scientific Inc. (TMO) reported revenue of $12.5 billion for fiscal 2012, the year ended 31 December 2012, up 8.2% on the year before. Net income was $1.2 billion, down 11.4%, and diluted earnings per share $3.21. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$12.5 billion
+8.2% on the year
FY2007FY2012
Operating margin
11.8%
10.8% a year earlier
FY2007FY2012
Net income
$1.2 billion
-11.4% on the year
FY2007FY2012
Diluted EPS
$3.21
-7.2% 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
12,510
11,559
10,393
+8.2%
Cost of revenue
7,214
6,765
6,132
+6.6%
Gross profit
5,296
4,794
4,262
+10.5%
Gross margin
42.3%
41.5%
41.0%
Research and development
376
340
284
+10.6%
Selling, general and administrative
3,355
3,106
2,729
+8.0%
Operating income
1,482
1,251
1,188
+18.5%
Operating margin
11.8%
10.8%
11.4%
Interest expense
242
175
84.7
+37.8%
Pre-tax income
1,269
1,133
1,088
+12.1%
Income tax
11.0
109
102
-89.9%
Effective tax rate
0.9%
9.7%
9.3%
Net income
1,178
1,330
1,036
-11.4%
Net margin
9.4%
11.5%
10.0%
Diluted EPS
$3.21
$3.46
$2.53
-7.2%
$ 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
2,040
1,691
1,498
+20.6%
Capital expenditure
315
261
245
+20.8%
Free cash flow
1,724
1,430
1,252
+20.6%
Free cash flow margin
13.8%
12.4%
12.1%
Cash from investing
-1,371
-5,142
-859
Cash from financing
n/a
n/a
-1,295
Depreciation and amortisation
984
860
740
+14.4%
Share-based compensation
78.2
80.0
81.6
-2.2%
Buybacks
1,150
1,338
1,012
-14.0%
Dividends paid
142
0.0
n/a
Dividend per share
$0.54
$0.00
$0.00
Diluted shares, weighted
367m
385m
409m
-4.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
15,465
15,038
15,361
+2.8%
Debt
7,124
7,028
2,137
+1.4%
Other liabilities
4,856
4,768
3,851
+1.8%
Total liabilities and equity
27,445
26,834
21,349
+2.3%
Fixed assets
1,726
1,611
1,320
+7.1%
Goodwill
12,474
11,988
8,981
+4.1%
Intangible assets
7,804
7,816
5,914
-0.1%
Investments
4.3
4.3
8.9
0.0%
Cash and equivalents
806
1,016
917
-20.7%
Receivables
1,805
1,764
1,440
+2.3%
Inventory
1,443
1,330
1,153
+8.5%
Other assets
1,381
1,304
1,616
+5.9%
Total assets
27,445
26,834
21,349
+2.3%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.