T. Rowe Price Group (TROW) FY2013 results: revenue $3.5 billion, up 15.3% on the year
T. Rowe Price Group, Inc. (TROW) reported revenue of $3.5 billion for fiscal 2013, the year ended 31 December 2013, up 15.3% on the year before. Net income was $1.0 billion, up 18.6%, and diluted earnings per share $3.90. The figures are the company's own, from the 10-K it filed with the SEC on 4 February 2014.
Revenue
$3.5 billion
+15.3% on the year
FY2007FY2013
Operating margin
47.0%
45.1% a year earlier
FY2007FY2013
Net income
$1.0 billion
+18.6% on the year
FY2007FY2013
Diluted EPS
$3.90
+16.1% 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
3,484
3,022
2,747
+15.3%
Gross profit
n/a
n/a
2,747
Gross margin
n/a
n/a
100.0%
Operating income
1,637
1,364
1,227
+20.0%
Operating margin
47.0%
45.1%
44.7%
Pre-tax income
1,700
1,435
1,251
+18.5%
Income tax
653
552
477
+18.3%
Effective tax rate
38.4%
38.4%
38.2%
Net income
1,048
884
773
+18.6%
Net margin
30.1%
29.2%
28.1%
Diluted EPS
$3.90
$3.36
$2.92
+16.1%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
1,233
903
948
+36.6%
Capital expenditure
106
76.9
82.3
+37.6%
Free cash flow
1,127
826
866
+36.5%
Free cash flow margin
32.4%
27.3%
31.5%
Cash from investing
-438
-310
-165
Cash from financing
-277
-612
-699
Share-based compensation
115
104
98.7
+10.1%
Buybacks
14.1
135
480
-89.6%
Dividends paid
397
603
318
-34.3%
Dividend per share
n/a
n/a
$1.24
Diluted shares, weighted
266m
261m
263m
+2.0%
Shares outstanding at period end
262m
257m
253m
+2.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,818
3,846
3,421
+25.3%
Redeemable equity
0.0
n/a
n/a
Debt
0.0
0.0
0.0
Other liabilities
215
357
350
-39.7%
Total liabilities and equity
5,033
4,203
3,770
+19.8%
Fixed assets
573
561
567
+2.1%
Goodwill
n/a
666
666
Intangible assets
n/a
n/a
1.1
Securities held for sale or to maturity
1.0
137
199
-99.3%
Cash and equivalents
1,398
879
898
+59.0%
Other assets
3,061
1,960
1,439
+56.2%
Total assets
5,033
4,203
3,770
+19.8%
10-K for the year ended 31 December 2013, filed 4 February 2014: the filing.