Visa (V) FY2013 results: revenue $11.8 billion, up 13.0% on the year
Visa Inc. (V) reported revenue of $11.8 billion for fiscal 2013, the year ended 30 September 2013, up 13.0% on the year before. Net income was $5.0 billion, up 132.3%. The figures are the company's own, from the 10-K it filed with the SEC on 22 November 2013.
Revenue
$11.8 billion
+13.0% on the year
FY2007FY2013
Operating margin
61.5%
20.5% a year earlier
FY2007FY2013
Net income
$5.0 billion
+132.3% on the year
FY2007FY2013
Diluted EPS
n/a
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
11,778
10,421
9,188
+13.0%
Operating income
7,239
2,139
5,456
+238.4%
Operating margin
61.5%
20.5%
59.4%
Interest expense
n/a
-29.0
32.0
Pre-tax income
n/a
n/a
5,656
Income tax
2,277
65.0
2,010
+3,403.1%
Effective tax rate
n/a
n/a
35.5%
Net income
4,980
2,144
3,650
+132.3%
Net margin
42.3%
20.6%
39.7%
$ 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
3,022
5,009
3,872
-39.7%
Capital expenditure
471
376
353
+25.3%
Free cash flow
2,551
4,633
3,519
-44.9%
Free cash flow margin
21.7%
44.5%
38.3%
Cash from investing
-1,164
-2,414
-2,299
Cash from financing
-1,746
-2,655
-3,304
Depreciation and amortisation
397
333
288
+19.2%
Share-based compensation
179
147
154
+21.8%
Buybacks
5,365
710
2,024
+655.6%
Dividends paid
864
595
423
+45.2%
Dividend per share
$0.33
$0.22
$0.15
+50.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
26,870
27,630
26,437
-2.8%
Debt
0.0
n/a
0.0
Other liabilities
9,086
12,383
8,323
-26.6%
Total liabilities and equity
35,956
40,013
34,760
-10.1%
Fixed assets
1,732
1,634
1,541
+6.0%
Goodwill
11,681
11,681
11,668
0.0%
Intangible assets
11,351
11,420
11,436
-0.6%
Investments
4,754
3,960
1,925
+20.1%
Trading assets
75.0
n/a
n/a
Cash and equivalents
2,186
2,074
2,127
+5.4%
Receivables
761
723
560
+5.3%
Other assets
3,416
8,521
5,503
-59.9%
Total assets
35,956
40,013
34,760
-10.1%
10-K for the year ended 30 September 2013, filed 22 November 2013: the filing.