Zimmer Biomet Holdings (ZBH) FY2013 results: revenue $4.6 billion, up 3.4% on the year
Zimmer Biomet Holdings, Inc. (ZBH) reported revenue of $4.6 billion for fiscal 2013, the year ended 31 December 2013, up 3.4% on the year before. Net income was $780 million, up 3.4%, and diluted earnings per share $4.54. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$4.6 billion
+3.4% on the year
FY2007FY2013
Operating margin
23.1%
23.4% a year earlier
FY2007FY2013
Net income
$780 million
+3.4% on the year
FY2007FY2013
Diluted EPS
$4.54
+5.8% 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
4,623
4,472
4,452
+3.4%
Cost of revenue
1,267
1,125
1,122
+12.6%
Gross profit
3,337
3,346
3,330
-0.3%
Gross margin
72.2%
74.8%
74.8%
Research and development
203
226
238
-10.0%
Selling, general and administrative
1,749
1,807
1,834
-3.2%
Operating income
1,069
1,047
1,024
+2.0%
Operating margin
23.1%
23.4%
23.0%
Interest expense
70.1
72.9
55.3
-3.8%
Pre-tax income
1,008
990
979
+1.8%
Income tax
230
237
219
-3.2%
Effective tax rate
22.8%
24.0%
22.4%
Net income
780
755
761
+3.4%
Net margin
16.9%
16.9%
17.1%
Diluted EPS
$4.54
$4.29
$4.03
+5.8%
$ 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
963
1,152
1,177
-16.4%
Capital expenditure
100
115
114
-12.8%
Free cash flow
863
1,037
1,063
-16.8%
Free cash flow margin
18.7%
23.2%
23.9%
Cash from investing
-282
-592
-624
Cash from financing
-467
-436
-456
Depreciation and amortisation
358
363
360
-1.3%
Share-based compensation
48.5
55.0
60.5
-11.8%
Buybacks
721
486
1,050
+48.4%
Dividends paid
132
94.4
n/a
+40.3%
Dividend per share
$0.80
$0.54
$0.18
+48.1%
Diluted shares, weighted
172m
176m
189m
-2.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
6,297
5,861
5,507
+7.4%
Non-controlling interest
2.8
5.4
7.6
-48.1%
Short-term borrowings
0.5
n/a
n/a
Debt
1,672
1,821
1,719
-8.2%
Other liabilities
1,608
1,325
1,281
+21.3%
Total liabilities and equity
9,581
9,012
8,515
+6.3%
Fixed assets
1,230
1,211
1,207
+1.6%
Goodwill
2,611
2,572
2,626
+1.5%
Intangible assets
708
741
798
-4.5%
Investments
727
672
456
+8.2%
Cash and equivalents
1,081
884
768
+22.2%
Receivables
937
885
839
+5.9%
Inventory
1,074
995
930
+8.0%
Other assets
1,214
1,053
891
+15.2%
Total assets
9,581
9,012
8,515
+6.3%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.