Weyerhaeuser (WY) FY2013 results: revenue $7.3 billion, up 21.1% on the year
Weyerhaeuser Co. (WY) reported revenue of $7.3 billion for fiscal 2013, the year ended 31 December 2013, up 21.1% on the year before. Net income was $563 million, up 46.2%, and diluted earnings per share $0.95. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2014.
Revenue
$7.3 billion
+21.1% on the year
FY2007FY2013
Operating margin
8.7%
10.3% a year earlier
FY2007FY2013
Net income
$563 million
+46.2% on the year
FY2007FY2013
Diluted EPS
$0.95
+33.8% 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
7,254
5,989
6,216
+21.1%
Cost of revenue
5,716
4,993
5,120
+14.5%
Gross profit
1,538
996
1,096
+54.4%
Gross margin
21.2%
16.6%
17.6%
Research and development
33.0
32.0
30.0
+3.1%
Selling, general and administrative
n/a
n/a
601
Operating income
634
618
594
+2.6%
Operating margin
8.7%
10.3%
9.6%
Interest expense
369
344
384
+7.3%
Pre-tax income
320
322
257
-0.6%
Income tax
-171
10.0
-62.0
Effective tax rate
-53.4%
3.1%
-24.1%
Net income
563
385
331
+46.2%
Net margin
7.8%
6.4%
5.3%
Diluted EPS
$0.95
$0.71
$0.61
+33.8%
$ 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
1,004
581
291
+72.8%
Capital expenditure
261
256
212
+2.0%
Free cash flow
743
325
79.0
+128.6%
Free cash flow margin
10.2%
5.4%
1.3%
Cash from investing
-1,829
-192
122
Cash from financing
762
-444
-927
Depreciation and amortisation
458
444
476
+3.2%
Share-based compensation
42.0
37.0
25.0
+13.5%
Buybacks
0.0
0.0
37.0
Dividends paid
458
334
323
+37.1%
Dividend per share
$0.81
$0.62
$0.60
+30.6%
Diluted shares, weighted
571m
542m
540m
+5.3%
Shares outstanding at period end
584m
542m
536m
+7.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,795
4,070
4,263
+67.0%
Non-controlling interest
3.0
43.0
4.0
-93.0%
Debt
5,409
4,963
n/a
+9.0%
Other liabilities
2,165
3,516
8,367
-38.4%
Total liabilities and equity
14,372
12,592
12,634
+14.1%
Fixed assets
2,689
2,872
n/a
-6.4%
Goodwill
42.0
40.0
n/a
+5.0%
Cash and equivalents
822
898
953
-8.5%
Receivables
518
523
n/a
-1.0%
Inventory
542
531
476
+2.1%
Other assets
9,759
7,728
11,205
+26.3%
Total assets
14,372
12,592
12,634
+14.1%
10-K for the year ended 31 December 2013, filed 18 February 2014: the filing.