Williams Sonoma (WSM) FY2013 results: revenue $4.4 billion, up 8.5% on the year
Williams Sonoma Inc. (WSM) reported revenue of $4.4 billion for fiscal 2013, the year ended 2 February 2014, up 8.5% on the year before. Net income was $279 million, up 8.6%, and diluted earnings per share $1.41. The figures are the company's own, from the 10-K it filed with the SEC on 3 April 2014.
Revenue
$4.4 billion
+8.5% on the year
FY2008FY2013
Operating margin
10.3%
10.1% a year earlier
FY2008FY2013
Net income
$279 million
+8.6% on the year
FY2008FY2013
Diluted EPS
$1.41
+11.0% on the year
FY2008FY2013
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
4,388
4,043
3,721
+8.5%
Gross profit
1,704
1,592
1,460
+7.0%
Gross margin
38.8%
39.4%
39.2%
Selling, general and administrative
1,252
1,183
1,078
+5.8%
Operating income
452
409
382
+10.5%
Operating margin
10.3%
10.1%
10.3%
Pre-tax income
453
410
382
+10.4%
Income tax
174
153
145
+13.4%
Effective tax rate
38.4%
37.4%
37.9%
Net income
279
257
237
+8.6%
Net margin
6.4%
6.4%
6.4%
Diluted EPS
$1.41
$1.27
$1.11
+11.0%
$ 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
454
364
291
+24.6%
Capital expenditure
194
205
130
-5.6%
Free cash flow
260
159
161
+63.7%
Free cash flow margin
5.9%
3.9%
4.3%
Cash from investing
-191
-207
-158
Cash from financing
-355
-236
-259
Depreciation and amortisation
150
134
131
+11.4%
Share-based compensation
38.8
31.0
24.3
+25.0%
Buybacks
239
155
194
+54.3%
Dividends paid
112
87.8
68.9
+27.0%
Dividend per share
$0.62
$0.44
$0.36
+40.9%
Diluted shares, weighted
198m
202m
213m
-2.3%
Shares outstanding at period end
188m
195m
201m
-3.8%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,256
1,309
1,255
-4.1%
Debt
3.8
5.5
7.3
-31.5%
Other liabilities
1,077
873
798
+23.4%
Total liabilities and equity
2,337
2,188
2,061
+6.8%
Fixed assets
849
812
735
+4.6%
Goodwill
18.9
19.0
19.3
-0.0%
Cash and equivalents
330
425
503
-22.2%
Receivables
60.3
63.0
46.0
-4.2%
Inventory
813
640
553
+27.1%
Other assets
265
229
205
+15.6%
Total assets
2,337
2,188
2,061
+6.8%
10-K for the year ended 2 February 2014, filed 3 April 2014: the filing.