Abbott Laboratories (ABT) FY2014 results: revenue $20.2 billion, up 3.0% on the year
Abbott Laboratories (ABT) reported revenue of $20.2 billion for fiscal 2014, the year ended 31 December 2014, up 3.0% on the year before. Net income was $2.3 billion, down 11.3%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$20.2 billion
+3.0% on the year
FY2007FY2014
Operating margin
12.8%
10.9% a year earlier
FY2007FY2014
Net income
$2.3 billion
-11.3% on the year
FY2007FY2014
Diluted EPS
$1.49
-8.0% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
20,247
19,657
19,050
+3.0%
Cost of revenue
9,218
9,193
8,899
+0.3%
Gross profit
11,029
10,464
10,151
+5.4%
Gross margin
54.5%
53.2%
53.3%
Research and development
1,345
1,371
1,461
-1.9%
Selling, general and administrative
6,530
6,372
6,735
+2.5%
Operating income
2,599
2,133
1,360
+21.8%
Operating margin
12.8%
10.9%
7.1%
Interest expense
150
145
320
+3.4%
Pre-tax income
2,518
2,041
-220
+23.4%
Income tax
797
53.0
-457
+1,403.8%
Effective tax rate
31.7%
2.6%
n/a
Net income
2,284
2,576
5,963
-11.3%
Net margin
11.3%
13.1%
31.3%
Diluted EPS
$1.49
$1.62
$3.72
-8.0%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
3,675
3,324
9,314
+10.6%
Capital expenditure
1,077
1,145
1,795
-5.9%
Free cash flow
2,598
2,179
7,519
+19.2%
Free cash flow margin
12.8%
11.1%
39.5%
Cash from investing
-202
-3,929
-5,560
Cash from financing
-2,742
-6,696
195
Depreciation and amortisation
1,548
1,719
2,783
-9.9%
Share-based compensation
246
262
433
-6.1%
Buybacks
2,195
1,605
2,364
+36.8%
Dividends paid
1,342
882
3,183
+52.2%
Diluted shares, weighted
1,527m
1,574m
1,592m
-3.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
21,526
25,171
26,721
-14.5%
Non-controlling interest
113
96.0
92.0
+17.7%
Debt
7,830
6,561
20,476
+19.3%
Other liabilities
11,806
11,125
19,946
+6.1%
Total liabilities and equity
41,275
42,953
67,235
-3.9%
Fixed assets
5,935
5,905
8,063
+0.5%
Goodwill
10,067
9,772
15,774
+3.0%
Intangible assets
6,198
5,735
8,588
+8.1%
Investments
626
4,742
4,645
-86.8%
Cash and equivalents
4,063
3,475
10,802
+16.9%
Receivables
3,586
3,986
7,613
-10.0%
Inventory
2,643
2,693
3,792
-1.9%
Other assets
8,157
6,645
7,957
+22.8%
Total assets
41,275
42,953
67,235
-3.9%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.