TripAdvisor (TRIP) FY2013 results: revenue $945 million, up 23.8% on the year
TripAdvisor, Inc. (TRIP) reported revenue of $945 million for fiscal 2013, the year ended 31 December 2013, up 23.8% on the year before. Net income was $205 million, up 5.6%, and diluted earnings per share $1.41. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2014.
Revenue
$945 million
+23.8% on the year
FY2009FY2013
Operating margin
31.2%
38.8% a year earlier
FY2009FY2013
Net income
$205 million
+5.6% on the year
FY2009FY2013
Diluted EPS
$1.41
+2.9% 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
945
763
637
+23.8%
Cost of revenue
n/a
12.1
10.9
Gross profit
n/a
751
626
Gross margin
n/a
98.4%
98.3%
Operating income
295
296
273
-0.6%
Operating margin
31.2%
38.8%
42.8%
Interest expense
10.0
11.0
0.4
-9.1%
Pre-tax income
284
282
272
+0.7%
Income tax
79.0
87.0
94.1
-9.2%
Effective tax rate
27.8%
30.9%
34.6%
Net income
205
194
178
+5.6%
Net margin
21.7%
25.4%
27.9%
Diluted EPS
$1.41
$1.37
$1.32
+2.9%
$ 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
350
239
218
+46.2%
Capital expenditure
55.0
29.0
21.3
+89.7%
Free cash flow
295
210
197
+40.2%
Free cash flow margin
31.2%
27.5%
30.9%
Cash from investing
-197
-244
-539
Cash from financing
-170
190
412
Depreciation and amortisation
36.0
26.0
25.9
+38.5%
Share-based compensation
49.0
30.0
17.3
+63.2%
Buybacks
145
n/a
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
145m
141m
135m
+2.8%
Shares outstanding at period end
129m
130m
121m
-0.5%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
864
727
294
+18.9%
Redeemable equity
n/a
0.0
3.9
Debt
368
412
427
-10.7%
Other liabilities
241
160
112
+50.3%
Total liabilities and equity
1,473
1,299
836
+13.4%
Fixed assets
82.0
43.8
34.8
+87.2%
Goodwill
502
472
467
+6.4%
Intangible assets
52.0
38.2
44.0
+36.2%
Investments
320
218
0.0
+46.4%
Cash and equivalents
351
368
183
-4.5%
Receivables
113
81.5
67.9
+38.7%
Other assets
53.3
78.3
39.3
-31.9%
Total assets
1,473
1,299
836
+13.4%
10-K for the year ended 31 December 2013, filed 11 February 2014: the filing.