Textron (TXT) FY2012 results: revenue $12.2 billion, up 8.5% on the year
Textron Inc. (TXT) reported revenue of $12.2 billion for fiscal 2012, the year ended 29 December 2012, up 8.5% on the year before. Net income was $589 million, up 143.4%, and diluted earnings per share $2.00. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2013.
Revenue
$12.2 billion
+8.5% on the year
FY2008FY2012
Operating margin
6.9%
3.0% a year earlier
FY2008FY2012
Net income
$589 million
+143.4% on the year
FY2008FY2012
Diluted EPS
$2.00
+153.2% on the year
FY2008FY2012
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
12,237
11,275
10,525
+8.5%
Cost of revenue
10,019
9,308
8,605
+7.6%
Gross profit
2,218
1,967
1,920
+12.8%
Gross margin
18.1%
17.4%
18.2%
Research and development
584
525
403
+11.2%
Selling, general and administrative
1,165
1,195
1,231
-2.5%
Operating income
841
337
86.0
+149.6%
Operating margin
6.9%
3.0%
0.8%
Interest expense
212
246
270
-13.8%
Pre-tax income
841
337
86.0
+149.6%
Income tax
260
95.0
-6.0
+173.7%
Effective tax rate
30.9%
28.2%
-7.0%
Net income
589
242
86.0
+143.4%
Net margin
4.8%
2.1%
0.8%
Diluted EPS
$2.00
$0.79
$0.28
+153.2%
$ 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
927
1,063
984
-12.8%
Capital expenditure
480
423
270
+13.5%
Free cash flow
447
640
714
-30.2%
Free cash flow margin
3.7%
5.7%
6.8%
Cash from investing
378
843
1,549
-55.2%
Cash from financing
-781
-1,951
-3,493
Depreciation and amortisation
383
403
393
-5.0%
Share-based compensation
71.0
50.0
85.0
+42.0%
Buybacks
272
n/a
n/a
Dividends paid
17.0
22.0
22.0
-22.7%
Dividend per share
$0.08
$0.08
$0.08
0.0%
Diluted shares, weighted
295m
307m
303m
-4.1%
Shares outstanding at period end
271m
279m
276m
-2.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,991
2,745
2,972
+9.0%
Other liabilities
10,042
10,870
12,310
-7.6%
Total liabilities and equity
13,033
13,615
15,282
-4.3%
Fixed assets
2,149
1,996
1,948
+7.7%
Intangible assets
238
277
371
-14.1%
Cash and equivalents
1,413
885
931
+59.7%
Inventory
2,712
2,402
2,277
+12.9%
Other assets
6,521
8,055
9,755
-19.0%
Total assets
13,033
13,615
15,282
-4.3%
10-K for the year ended 29 December 2012, filed 15 February 2013: the filing.