Thermo Fisher Scientific (TMO) FY2013 results: revenue $13.1 billion, up 4.6% on the year
Thermo Fisher Scientific Inc. (TMO) reported revenue of $13.1 billion for fiscal 2013, the year ended 31 December 2013, up 4.6% on the year before. Net income was $1.3 billion, up 8.1%, and diluted earnings per share $3.48. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$13.1 billion
+4.6% on the year
FY2007FY2013
Operating margin
12.3%
11.8% a year earlier
FY2007FY2013
Net income
$1.3 billion
+8.1% on the year
FY2007FY2013
Diluted EPS
$3.48
+8.4% 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
13,090
12,510
11,559
+4.6%
Cost of revenue
7,561
7,214
6,765
+4.8%
Gross profit
5,529
5,296
4,794
+4.4%
Gross margin
42.2%
42.3%
41.5%
Research and development
396
376
340
+5.1%
Selling, general and administrative
3,446
3,355
3,106
+2.7%
Operating income
1,610
1,482
1,251
+8.6%
Operating margin
12.3%
11.8%
10.8%
Interest expense
262
242
175
+8.5%
Pre-tax income
1,320
1,269
1,133
+3.9%
Income tax
40.4
11.0
109
+267.3%
Effective tax rate
3.1%
0.9%
9.7%
Net income
1,273
1,178
1,330
+8.1%
Net margin
9.7%
9.4%
11.5%
Diluted EPS
$3.48
$3.21
$3.46
+8.4%
$ 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
2,011
2,040
1,691
-1.4%
Capital expenditure
282
315
261
-10.4%
Free cash flow
1,728
1,724
1,430
+0.2%
Free cash flow margin
13.2%
13.8%
12.4%
Cash from investing
-263
-1,371
-5,142
Depreciation and amortisation
1,000
984
860
+1.6%
Share-based compensation
90.9
78.2
80.0
+16.2%
Buybacks
89.8
1,150
1,338
-92.2%
Dividends paid
216
142
0.0
+52.0%
Dividend per share
$0.60
$0.54
$0.00
+11.1%
Diluted shares, weighted
366m
367m
385m
-0.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
16,856
15,465
15,038
+9.0%
Debt
10,487
7,124
7,028
+47.2%
Other liabilities
4,520
4,856
4,768
-6.9%
Total liabilities and equity
31,863
27,445
26,834
+16.1%
Fixed assets
1,767
1,726
1,611
+2.4%
Goodwill
12,503
12,474
11,988
+0.2%
Intangible assets
7,071
7,804
7,816
-9.4%
Investments
4.5
4.3
4.3
+4.7%
Cash and equivalents
5,826
806
1,016
+623.2%
Receivables
1,942
1,805
1,764
+7.6%
Inventory
1,494
1,443
1,330
+3.5%
Other assets
1,254
1,381
1,304
-9.2%
Total assets
31,863
27,445
26,834
+16.1%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.