On March 19, PetroChina (NYSE:PTR) released earnings for the year ended Dec. 31.
- The rising energy company's net profits rose 6.6% on the back of a 24.8% rise in total revenues.
- A 36.4% increase in operating expenses put in a dent in the firm's still-mouthwatering margins.
- The firm anticipates another year of aggressive capital spending, forecasting a 24.8% rise to $24 billion in 2007, or roughly $9 billion more than ExxonMobil's (NYSE:XOM) capital expenditures in 2006.
- PetroChina is rated a four-star stock by the Motley Fool CAPS community, along with competitor Chevron (NYSE:CVX), while fellow Chinese rival CNOOC (NYSE:CEO) has a higher five-star rating. To see what all the fuss is about, join CAPS for free today.
(Figures in millions, except per-share data. Figures based on a 1-to-7.332 U.S. dollar-to-Chinese yuan exchange ratio.)
Income Statement Highlights
|
FY 2006 |
FY 2005 |
Change | |
|---|---|---|---|
|
Sales |
$89,093.5 |
$71,410.2 |
24.8% |
|
Net Profit |
$18,391.4 |
$17,245.4 |
6.6% |
|
EPS |
$0.10 |
$0.08 |
5.3% |
|
Earnings per ADR |
$10.22 |
$9.70 |
5.3% |
|
Diluted Shares |
179,021 |
176,770 |
1.3% |
Get back to basics with the income statement. Oh, and learn about the ADR.
Margin Checkup
|
FY 2006 |
FY 2005 |
Change* | |
|---|---|---|---|
|
Operating Margin |
28.7% |
34.8% |
(6.1%) |
|
Net Margin |
20.6% |
24.2% |
(3.5%) |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
FY 2006 |
FY 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$6,668.8 |
$10,680.7 |
(37.6%) |
|
Liabilities |
FY 2006 |
FY 2005 |
Change |
|---|---|---|---|
|
Long-Term Debt |
$4,607.9 |
$5,763.5 |
(20.0%) |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
YTD 2006 |
YTD 2005 |
Change | |
|---|---|---|---|
|
Cash From Ops. |
$25,617.1 |
$26,364.9 |
(2.8%) |
|
Capital Expenditures |
$19,234.7 |
$16,138.3 |
19.2% |
|
Free Cash Flow |
$6,382.4 |
$10,226.6 |
(37.6%) |
Free cash flow is a Fool's best friend.
Related Foolishness:
Like to learn more about the joys of underpriced international energy companies? Check out a free 30-day trial to Bill Mann's Motley Fool Global Gains.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.
Foolish editor Joe Magyer does not own any shares in the above-mentioned companies, though his Granny does own shares in ExxonMobil. Joe's dog, Warner, likes to chase squirrels, but has yet to catch one. The Fool has a disclosure policy.
