Walker & Dunlop (WD) FY2013 results: revenue $319 million, up 24.3% on the year
Walker & Dunlop, Inc. (WD) reported revenue of $319 million for fiscal 2013, the year ended 31 December 2013, up 24.3% on the year before. Net income was $42 million, up 23.0%, and diluted earnings per share $1.21. The figures are the company's own, from the 10-K it filed with the SEC on 7 March 2014.
Revenue
$319 million
+24.3% on the year
FY2009FY2013
Operating margin
20.9%
21.7% a year earlier
FY2009FY2013
Net income
$42 million
+23.0% on the year
FY2009FY2013
Diluted EPS
$1.21
-7.6% on the year
FY2009FY2013
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
319
257
152
+24.3%
Operating income
66.8
55.8
56.7
+19.8%
Operating margin
20.9%
21.7%
37.2%
Interest expense
13.7
12.7
6.0
+7.9%
Pre-tax income
66.8
55.8
56.7
+19.8%
Income tax
25.3
22.0
21.8
+14.8%
Effective tax rate
37.8%
39.4%
38.5%
Net income
41.5
33.8
34.9
+23.0%
Net margin
13.0%
13.2%
22.9%
Diluted EPS
$1.21
$1.31
$1.60
-7.6%
$ 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
837
-839
58.1
Capital expenditure
4.5
4.6
3.8
-1.7%
Free cash flow
832
-844
54.3
Free cash flow margin
260.9%
-328.6%
35.6%
Depreciation and amortisation
76.0
53.9
22.5
+40.9%
Share-based compensation
9.2
5.2
2.4
+77.6%
Buybacks
3.0
0.7
0.5
+308.2%
Diluted shares, weighted
34m
26m
22m
+32.9%
Shares outstanding at period end
34m
34m
22m
+1.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
403
353
164
+14.1%
Debt
548
1,165
23.9
-53.0%
Other liabilities
178
170
335
+4.7%
Total liabilities and equity
1,129
1,689
523
-33.1%
Goodwill
60.2
59.7
n/a
+0.8%
Intangible assets
354
4.6
1.2
+7,512.7%
Loans
135
n/a
n/a
Cash and equivalents
171
65.0
53.8
+162.3%
Other assets
410
1,559
468
-73.7%
Total assets
1,129
1,689
523
-33.1%
10-K for the year ended 31 December 2013, filed 7 March 2014: the filing.