NOV FY 2013 Earnings Report — NOV Inc. Revenue & Financial Results | Market Cap Arena

FY 2013 Earnings

Reported February 14, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$19.2B	—	$17.2B	—	11.8%
Op. Income	$3.2B	—	$3.4B	—	-5.6%
Gross Margin	26.6%	—	29.3%	—	-2.8pp
Net Margin	12.1%	—	14.5%	—	-2.4pp
EPS (Diluted)	$5.44	—	$5.83	—	-6.7%
Free Cash Flow	$2.7B	—	$37M	—	7273.0%

Revenue Flow

Item	Amount
REVENUE	$19.2B
Cost of Revenue	$14.1B
GROSS PROFIT	$5.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$16.0B
OPERATING INCOME	$3.2B
Interest Income	$12M
Interest Expense	$111M
Other Income/Expenses	-$75M
INCOME BEFORE TAX	$3.1B
Income Tax Expense	$943M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$147M
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$738M
EBIT	$3.2B
EBITDA	$4.0B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$19.2B
Cost of Revenue	$14.1B
GROSS PROFIT	$5.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.9B
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$16.0B
OPERATING INCOME	$3.2B
Interest Income	$12M
Interest Expense	$111M
Other Income/Expenses	-$75M
INCOME BEFORE TAX	$3.1B
Income Tax Expense	$943M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$147M
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$738M
EBIT	$3.2B
EBITDA	$4.0B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$755M
Stock-Based Compensation	$92M
Deferred Income Tax	-$333M
Other Non-Cash Items	$67M
Change in Working Capital	$488M
OPERATING CASH FLOW	$3.4B
Capital Expenditure	-$669M
Acquisitions (Net)	-$2.4B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$72M
NET CASH FROM INVESTING	-$3.0B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$389M
Other Financing Activities	$84M
NET CASH FROM FINANCING	-$305M
FREE CASH FLOW	$2.7B
Net Change in Cash	$117M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.4B
Short-Term Investments	$0
Net Receivables	$6.4B
Inventory	$5.6B
Other Current Assets	$427M
TOTAL CURRENT ASSETS	$16.4B
PP&E (Net)	$3.4B
Goodwill	$9.0B
Intangible Assets	$5.1B
Long-Term Investments	$390M
Tax Assets	$372M
Other Non-Current Assets	$115M
TOTAL NON-CURRENT ASSETS	$18.4B
TOTAL ASSETS	$34.8B
Account Payables	$1.3B
Short-Term Debt	$1M
Deferred Revenue	$1.8B
Other Current Liabilities	$1.1B
TOTAL CURRENT LIABILITIES	$6.7B
Long-Term Debt	$3.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$2.3B
Other Non-Current Liabilities	$363M
TOTAL NON-CURRENT LIABILITIES	$5.8B
TOTAL LIABILITIES	$12.5B
Common Stock	$4M
Additional Paid-In Capital	$8.9B
Retained Earnings	$13.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$22.2B
Minority Interest	$100M
TOTAL EQUITY	$22.3B
TOTAL LIABILITIES & EQUITY	$34.8B
Total Debt	$3.1B
Net Debt	-$286M