Williams Companies (WMB) FY2013 results: revenue $6.9 billion, down 8.4% on the year
Williams Companies, Inc. (WMB) reported revenue of $6.9 billion for fiscal 2013, the year ended 31 December 2013, down 8.4% on the year before. Net income was $430 million, down 49.9%, and diluted earnings per share $0.62. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$6.9 billion
-8.4% on the year
FY2007FY2013
Operating margin
20.0%
21.5% a year earlier
FY2007FY2013
Net income
$430 million
-49.9% on the year
FY2007FY2013
Diluted EPS
$0.62
-54.7% 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
6,860
7,486
7,930
-8.4%
Cost of revenue
n/a
3,496
3,934
Gross profit
n/a
3,990
3,996
Gross margin
n/a
53.3%
50.4%
Selling, general and administrative
512
571
477
-10.3%
Operating income
1,375
1,612
1,867
-14.7%
Operating margin
20.0%
21.5%
23.5%
Interest expense
510
n/a
599
Pre-tax income
1,080
1,289
1,202
-16.2%
Income tax
401
360
124
+11.4%
Effective tax rate
37.1%
27.9%
10.3%
Net income
430
859
376
-49.9%
Net margin
6.3%
11.5%
4.7%
Diluted EPS
$0.62
$1.37
$0.63
-54.7%
$ 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
2,217
1,835
3,439
+20.8%
Capital expenditure
3,572
2,529
2,796
+41.2%
Free cash flow
-1,355
-694
643
Free cash flow margin
-19.8%
-9.3%
8.1%
Cash from investing
-4,052
-6,921
-3,003
Cash from financing
1,677
5,036
-342
-66.7%
Depreciation and amortisation
815
756
661
+7.8%
Share-based compensation
37.0
36.0
52.0
+2.8%
Dividends paid
982
742
457
+32.3%
Dividend per share
$1.44
$1.20
$0.78
+20.2%
Diluted shares, weighted
687m
625m
598m
+9.9%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
4,864
4,752
1,296
+2.4%
Non-controlling interest
4,057
2,675
1,290
+51.7%
Debt
11,579
10,735
8,722
+7.9%
Other liabilities
6,642
6,165
5,194
+7.7%
Total liabilities and equity
27,142
24,327
16,502
+11.6%
Fixed assets
18,210
15,467
12,580
+17.7%
Goodwill
646
649
0.0
-0.5%
Intangible assets
1,644
1,704
44.0
-3.5%
Investments
n/a
3,987
1,391
Cash and equivalents
681
839
889
-18.8%
Receivables
674
688
n/a
-2.0%
Inventory
194
175
169
+10.9%
Other assets
5,093
818
1,429
+522.6%
Total assets
27,142
24,327
16,502
+11.6%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.