Travelers Companies (TRV) FY2013 results: revenue $26.2 billion, up 1.8% on the year
Travelers Companies, Inc. (TRV) reported revenue of $26.2 billion for fiscal 2013, the year ended 31 December 2013, up 1.8% on the year before. Net income was $3.7 billion, up 49.7%, and diluted earnings per share $9.74. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$26.2 billion
+1.8% on the year
FY2007FY2013
Operating margin
13.6%
9.5% a year earlier
FY2007FY2013
Net income
$3.7 billion
+49.7% on the year
FY2007FY2013
Diluted EPS
$9.74
+54.6% 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
26,191
25,740
25,446
+1.8%
Selling, general and administrative
3,757
n/a
n/a
Operating income
3,567
2,441
1,390
+46.1%
Operating margin
13.6%
9.5%
5.5%
Interest expense
361
378
386
-4.5%
Pre-tax income
4,945
3,166
1,352
+56.2%
Income tax
1,272
693
-74.0
+83.5%
Effective tax rate
25.7%
21.9%
-5.5%
Net income
3,673
2,454
1,414
+49.7%
Net margin
14.0%
9.5%
5.6%
Diluted EPS
$9.74
$6.30
$3.36
+54.6%
$ 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
3,816
3,230
2,169
+18.1%
Share-based compensation
129
120
121
+7.5%
Buybacks
2,400
n/a
n/a
Dividends paid
729
694
665
+5.0%
Dividend per share
$1.96
$1.79
n/a
+9.5%
Diluted shares, weighted
374m
390m
420m
-4.0%
Shares outstanding at period end
354m
377m
393m
-6.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
24,796
25,405
24,477
-2.4%
Debt
6,361
6,361
6,619
0.0%
Other liabilities
72,655
73,172
73,506
-0.7%
Total liabilities and equity
103,812
104,938
104,602
-1.1%
Goodwill
3,634
3,365
3,365
+8.0%
Intangible assets
351
381
433
-7.9%
Securities held for sale or to maturity
63,956
65,393
64,232
-2.2%
Cash and equivalents
294
330
214
-10.9%
Other assets
35,577
35,469
36,358
+0.3%
Total assets
103,812
104,938
104,602
-1.1%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.