Wynn Resorts (WYNN) FY2013 results: revenue $5.6 billion, up 9.1% on the year
Wynn Resorts Ltd. (WYNN) reported revenue of $5.6 billion for fiscal 2013, the year ended 31 December 2013, up 9.1% on the year before. Net income was $729 million, up 45.1%, and diluted earnings per share $7.17. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$5.6 billion
+9.1% on the year
FY2008FY2013
Operating margin
23.0%
20.0% a year earlier
FY2008FY2013
Net income
$729 million
+45.1% on the year
FY2008FY2013
Diluted EPS
$7.17
+48.8% 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
5,621
5,154
5,270
+9.1%
Selling, general and administrative
449
442
389
+1.6%
Operating income
1,290
1,029
1,008
+25.3%
Operating margin
23.0%
20.0%
19.1%
Interest expense
299
289
230
+3.6%
Pre-tax income
987
733
806
+34.6%
Income tax
-17.6
4.3
-19.5
Effective tax rate
-1.8%
0.6%
-2.4%
Net income
729
502
613
+45.1%
Net margin
13.0%
9.7%
11.6%
Diluted EPS
$7.17
$4.82
$4.88
+48.8%
$ 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
1,677
1,186
1,516
+41.4%
Capital expenditure
515
241
184
+113.6%
Free cash flow
1,162
945
1,332
+23.0%
Free cash flow margin
20.7%
18.3%
25.3%
Cash from investing
-678
-345
-459
Cash from financing
-291
-382
-1,058
Depreciation and amortisation
371
373
398
-0.6%
Share-based compensation
39.5
19.6
23.9
+101.2%
Buybacks
15.5
0.9
7.6
+1,598.4%
Dividends paid
1,035
955
1,033
+8.3%
Dividend per share
$3.00
$9.50
$6.50
-68.4%
Diluted shares, weighted
102m
104m
126m
-2.5%
Shares outstanding at period end
101m
101m
125m
+0.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
-185
-259
2,089
Non-controlling interest
317
363
134
-12.7%
Debt
6,588
5,783
3,218
+13.9%
Other liabilities
2,282
1,390
1,458
+64.2%
Total liabilities and equity
9,002
7,277
6,899
+23.7%
Fixed assets
4,934
4,728
4,865
+4.4%
Intangible assets
30.8
31.3
35.8
-1.7%
Investments
254
139
214
+83.2%
Cash and equivalents
2,080
2,182
1,263
-4.7%
Receivables
242
239
238
+1.4%
Inventory
74.7
63.8
72.1
+17.1%
Other assets
1,386
n/a
212
Total assets
9,002
7,277
6,899
+23.7%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.