American Financial Group (AFG) FY2014 results: revenue $5.7 billion, up 12.3% on the year
American Financial Group Inc. (AFG) reported revenue of $5.7 billion for fiscal 2014, the year ended 31 December 2014, up 12.3% on the year before. Net income was $452 million, down 4.0%, and diluted earnings per share $4.97. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$5.7 billion
+12.3% on the year
FY2008FY2014
Operating margin
10.9%
13.5% a year earlier
FY2008FY2014
Net income
$452 million
-4.0% on the year
FY2008FY2014
Diluted EPS
$4.97
-3.7% on the year
FY2008FY2014
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
5,733
5,103
4,957
+12.3%
Operating income
626
689
537
-9.1%
Operating margin
10.9%
13.5%
10.8%
Interest expense
74.0
71.0
75.0
+4.2%
Pre-tax income
626
689
537
-9.1%
Income tax
220
236
135
-6.8%
Effective tax rate
35.1%
34.3%
25.1%
Net income
452
471
488
-4.0%
Net margin
7.9%
9.2%
9.8%
Diluted EPS
$4.97
$5.16
$5.09
-3.7%
$ 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
1,231
760
817
+62.0%
Cash from investing
-3,628
-2,915
-1,425
Cash from financing
2,101
2,089
989
+0.6%
Depreciation and amortisation
144
142
257
+1.4%
Share-based compensation
25.0
36.0
26.0
-30.6%
Buybacks
191
70.0
415
+172.9%
Dividends paid
167
160
90.0
+4.4%
Dividend per share
$1.91
$1.80
$0.97
+5.8%
Diluted shares, weighted
91m
91m
96m
-0.2%
Shares outstanding at period end
88m
90m
89m
-2.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,879
4,599
4,578
+6.1%
Non-controlling interest
175
170
170
+2.9%
Redeemable equity
0.0
n/a
n/a
Debt
1,061
913
953
+16.2%
Other liabilities
41,420
36,405
33,470
+13.8%
Total liabilities and equity
47,535
42,087
39,171
+12.9%
Goodwill
201
185
185
+8.6%
Intangible assets
49.0
14.0
28.0
+250.0%
Securities held for sale or to maturity
30,734
26,456
24,118
+16.2%
Cash and equivalents
1,343
1,639
1,705
-18.1%
Other assets
15,208
13,793
13,135
+10.3%
Total assets
47,535
42,087
39,171
+12.9%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.