T. Rowe Price Group (TROW) FY2012 results: revenue $3.0 billion, up 10.0% on the year
T. Rowe Price Group, Inc. (TROW) reported revenue of $3.0 billion for fiscal 2012, the year ended 31 December 2012, up 10.0% on the year before. Net income was $884 million, up 14.3%, and diluted earnings per share $3.36. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2013.
Revenue
$3.0 billion
+10.0% on the year
FY2007FY2012
Operating margin
45.1%
44.7% a year earlier
FY2007FY2012
Net income
$884 million
+14.3% on the year
FY2007FY2012
Diluted EPS
$3.36
+15.1% 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
3,022
2,747
2,371
+10.0%
Gross profit
n/a
2,747
2,367
Gross margin
n/a
100.0%
99.9%
Operating income
1,364
1,227
1,036
+11.2%
Operating margin
45.1%
44.7%
43.7%
Pre-tax income
1,435
1,251
1,070
+14.8%
Income tax
552
477
398
+15.5%
Effective tax rate
38.4%
38.2%
37.2%
Net income
884
773
672
+14.3%
Net margin
29.2%
28.1%
28.4%
Diluted EPS
$3.36
$2.92
$2.53
+15.1%
$ 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
903
948
733
-4.8%
Capital expenditure
76.9
82.3
118
-6.6%
Free cash flow
826
866
615
-4.6%
Free cash flow margin
27.3%
31.5%
25.9%
Cash from investing
-310
-165
-277
Cash from financing
-612
-699
-386
Share-based compensation
104
98.7
89.5
+5.5%
Buybacks
135
480
240
-71.8%
Dividends paid
603
318
279
+89.8%
Dividend per share
n/a
$1.24
$1.08
Diluted shares, weighted
261m
263m
265m
-0.9%
Shares outstanding at period end
257m
253m
259m
+1.5%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
3,846
3,421
3,296
+12.4%
Debt
0.0
0.0
0.0
Other liabilities
357
350
346
+2.0%
Total liabilities and equity
4,203
3,770
3,642
+11.5%
Fixed assets
561
567
560
-1.1%
Goodwill
666
666
666
0.0%
Intangible assets
n/a
1.1
1.6
Securities held for sale or to maturity
137
199
186
-31.3%
Cash and equivalents
879
898
813
-2.1%
Other assets
1,960
1,439
1,416
+36.2%
Total assets
4,203
3,770
3,642
+11.5%
10-K for the year ended 31 December 2012, filed 5 February 2013: the filing.