United Parcel Service (UPS) FY2013 results: revenue $55.4 billion, up 2.4% on the year
United Parcel Service Inc. (UPS) reported revenue of $55.4 billion for fiscal 2013, the year ended 31 December 2013, up 2.4% on the year before. Net income was $4.4 billion, up 441.8%, and diluted earnings per share $4.61. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$55.4 billion
+2.4% on the year
FY2007FY2013
Operating margin
12.7%
2.5% a year earlier
FY2007FY2013
Net income
$4.4 billion
+441.8% on the year
FY2007FY2013
Diluted EPS
$4.61
+455.4% 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
55,438
54,127
53,105
+2.4%
Operating income
7,034
1,343
6,080
+423.8%
Operating margin
12.7%
2.5%
11.4%
Interest expense
380
393
348
-3.3%
Pre-tax income
6,674
974
5,776
+585.2%
Income tax
2,302
167
1,972
+1,278.4%
Effective tax rate
34.5%
17.1%
34.1%
Net income
4,372
807
3,804
+441.8%
Net margin
7.9%
1.5%
7.2%
Diluted EPS
$4.61
$0.83
$3.84
+455.4%
$ 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
7,304
7,216
7,073
+1.2%
Capital expenditure
2,065
2,153
2,005
-4.1%
Free cash flow
5,239
5,063
5,068
+3.5%
Free cash flow margin
9.5%
9.4%
9.5%
Cash from investing
-2,114
-1,335
-2,537
Cash from financing
-7,807
-1,817
-4,862
Depreciation and amortisation
1,867
1,858
1,782
+0.5%
Share-based compensation
513
547
524
-6.2%
Buybacks
3,838
1,621
2,665
+136.8%
Dividends paid
2,260
2,130
1,997
+6.1%
Diluted shares, weighted
948m
969m
991m
-2.2%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,474
4,653
7,035
+39.1%
Non-controlling interest
14.0
80.0
73.0
-82.5%
Debt
10,279
12,870
11,128
-20.1%
Other liabilities
18,786
21,260
16,465
-11.6%
Total liabilities and equity
35,553
38,863
34,701
-8.5%
Fixed assets
17,961
17,894
17,621
+0.4%
Goodwill
2,190
2,173
2,101
+0.8%
Intangible assets
775
603
585
+28.5%
Investments
580
597
1,241
-2.8%
Trading assets
0.0
n/a
n/a
Cash and equivalents
4,665
7,327
3,034
-36.3%
Receivables
6,502
6,111
6,246
+6.4%
Inventory
403
393
345
+2.5%
Other assets
2,477
3,765
3,528
-34.2%
Total assets
35,553
38,863
34,701
-8.5%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.