Vulcan Materials (VMC) FY2013 results: revenue $2.8 billion, up 7.9% on the year
Vulcan Materials Co. (VMC) reported revenue of $2.8 billion for fiscal 2013, the year ended 31 December 2013, up 7.9% on the year before. Net income was $24 million, and diluted earnings per share $0.19. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$2.8 billion
+7.9% on the year
FY2007FY2013
Operating margin
6.9%
3.3% a year earlier
FY2007FY2013
Net income
$24 million
FY2007FY2013
Diluted EPS
$0.19
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
2,771
2,567
2,565
+7.9%
Cost of revenue
2,344
2,233
2,281
+4.9%
Gross profit
427
334
284
+27.8%
Gross margin
15.4%
13.0%
11.1%
Research and development
0.0
0.0
1.1
Selling, general and administrative
259
259
290
+0.1%
Operating income
190
84.8
63.4
+124.6%
Operating margin
6.9%
3.3%
2.5%
Interest expense
203
213
221
-4.9%
Pre-tax income
-3.7
-120
-154
Income tax
-24.5
-66.5
-78.5
Net income
24.4
-52.6
-70.8
Net margin
0.9%
-2.0%
-2.8%
Diluted EPS
$0.19
-$0.41
-$0.55
$ 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
356
238
169
+49.5%
Capital expenditure
275
93.4
98.9
+195.0%
Free cash flow
81.1
145
70.1
-44.1%
Free cash flow margin
2.9%
5.7%
2.7%
Cash from investing
-296
10.4
-19.5
Cash from financing
-142
-129
-41.3
Depreciation and amortisation
307
332
362
-7.5%
Share-based compensation
22.1
17.5
18.5
+26.4%
Buybacks
0.0
n/a
n/a
Dividends paid
5.2
5.2
98.2
+0.2%
Dividend per share
$0.04
$0.04
$0.76
0.0%
Diluted shares, weighted
131m
130m
129m
+1.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
3,938
3,761
3,792
+4.7%
Short-term borrowings
0.0
0.0
0.0
Debt
2,522
2,677
2,815
-5.8%
Other liabilities
1,773
1,689
1,622
+5.0%
Total liabilities and equity
8,233
8,127
8,229
+1.3%
Fixed assets
3,312
3,159
3,418
+4.8%
Goodwill
3,082
3,087
3,087
-0.2%
Intangible assets
698
693
698
+0.7%
Cash and equivalents
194
275
156
-29.7%
Receivables
323
278
299
+16.5%
Inventory
345
335
328
+2.9%
Other assets
280
300
244
-6.6%
Total assets
8,233
8,127
8,229
+1.3%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.