Xylem (XYL) FY2013 results: revenue $3.8 billion, up 1.2% on the year
Xylem Inc. (XYL) reported revenue of $3.8 billion for fiscal 2013, the year ended 31 December 2013, up 1.2% on the year before. Net income was $228 million, down 23.2%, and diluted earnings per share $1.22. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$3.8 billion
+1.2% on the year
FY2009FY2013
Operating margin
9.5%
11.7% a year earlier
FY2009FY2013
Net income
$228 million
-23.2% on the year
FY2009FY2013
Diluted EPS
$1.22
-23.3% on the year
FY2009FY2013
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
3,837
3,791
3,803
+1.2%
Cost of revenue
2,338
2,289
2,342
+2.1%
Gross profit
1,499
1,502
1,461
-0.2%
Gross margin
39.1%
39.6%
38.4%
Research and development
104
106
100
-1.9%
Selling, general and administrative
990
914
877
+8.3%
Operating income
363
443
395
-18.1%
Operating margin
9.5%
11.7%
10.4%
Interest expense
55.0
55.0
17.0
0.0%
Pre-tax income
298
388
383
-23.2%
Income tax
70.0
91.0
104
-23.1%
Effective tax rate
23.5%
23.5%
27.2%
Net income
228
297
279
-23.2%
Net margin
5.9%
7.8%
7.3%
Diluted EPS
$1.22
$1.59
$1.50
-23.3%
$ 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
324
396
449
-18.2%
Capital expenditure
126
112
126
+12.5%
Free cash flow
198
284
323
-30.3%
Free cash flow margin
5.2%
7.5%
8.5%
Cash from investing
-199
-147
-423
Cash from financing
-100
-74.0
172
Depreciation and amortisation
150
142
137
+5.6%
Share-based compensation
27.0
22.0
13.0
+22.7%
Buybacks
73.0
13.0
0.0
+461.5%
Dividends paid
87.0
75.0
19.0
+16.0%
Dividend per share
$0.47
$0.40
$0.10
+15.0%
Diluted shares, weighted
186m
186m
185m
-0.1%
Shares outstanding at period end
185m
186m
185m
-0.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,241
2,074
1,831
+8.1%
Debt
1,241
1,205
1,206
+3.0%
Other liabilities
1,375
1,400
1,356
-1.8%
Total liabilities and equity
4,857
4,679
4,393
+3.8%
Fixed assets
488
487
463
+0.2%
Goodwill
1,718
1,647
1,610
+4.3%
Intangible assets
488
484
505
+0.8%
Cash and equivalents
533
504
318
+5.8%
Receivables
817
776
756
+5.3%
Inventory
475
443
433
+7.2%
Other assets
338
338
308
0.0%
Total assets
4,857
4,679
4,393
+3.8%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.