Western Union (WU) FY2012 results: revenue $5.7 billion, up 3.2% on the year
Western Union Co. (WU) reported revenue of $5.7 billion for fiscal 2012, the year ended 31 December 2012, up 3.2% on the year before. Net income was $1.0 billion, down 12.0%, and diluted earnings per share $1.69. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$5.7 billion
+3.2% on the year
FY2007FY2012
Operating margin
23.5%
25.2% a year earlier
FY2007FY2012
Net income
$1.0 billion
-12.0% on the year
FY2007FY2012
Diluted EPS
$1.69
-8.2% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
5,665
5,491
5,193
+3.2%
Cost of revenue
3,194
3,102
2,978
+3.0%
Gross profit
2,471
2,389
2,214
+3.4%
Gross margin
43.6%
43.5%
42.6%
Selling, general and administrative
1,141
1,004
914
+13.6%
Operating income
1,330
1,385
1,300
-4.0%
Operating margin
23.5%
25.2%
25.0%
Interest expense
180
182
170
-1.3%
Pre-tax income
1,169
1,275
1,145
-8.3%
Income tax
143
109
235
+30.9%
Effective tax rate
12.2%
8.6%
20.5%
Net income
1,026
1,165
910
-12.0%
Net margin
18.1%
21.2%
17.5%
Diluted EPS
$1.69
$1.84
$1.36
-8.2%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,185
1,175
994
+0.9%
Capital expenditure
60.9
52.8
53.3
+15.3%
Free cash flow
1,124
1,122
941
+0.2%
Free cash flow margin
19.8%
20.4%
18.1%
Cash from investing
-258
-1,360
-64.6
Cash from financing
-522
-601
-458
Depreciation and amortisation
246
193
176
+27.8%
Share-based compensation
34.0
31.2
35.9
+9.0%
Buybacks
766
804
581
-4.7%
Dividends paid
254
194
165
+30.9%
Dividend per share
$0.42
$0.31
$0.25
+37.1%
Diluted shares, weighted
607m
634m
669m
-4.2%
Shares outstanding at period end
572m
619m
654m
-7.6%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
941
895
583
+5.1%
Debt
4,029
3,583
3,290
+12.4%
Other liabilities
4,496
4,592
4,057
-2.1%
Total liabilities and equity
9,466
9,070
7,929
+4.4%
Fixed assets
196
198
196
-1.0%
Goodwill
3,180
3,199
2,152
-0.6%
Intangible assets
879
847
438
+3.7%
Securities held for sale or to maturity
1,515
1,332
n/a
+13.7%
Cash and equivalents
1,776
1,371
2,157
+29.6%
Other assets
1,920
2,123
2,986
-9.6%
Total assets
9,466
9,070
7,929
+4.4%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.