Applied Materials (AMAT) FY2014 results: revenue $9.1 billion, up 20.8% on the year
Applied Materials Inc. (AMAT) reported revenue of $9.1 billion for fiscal 2014, the year ended 26 October 2014, up 20.8% on the year before. Net income was $1.1 billion, up 318.8%, and diluted earnings per share $0.87. The figures are the company's own, from the 10-K it filed with the SEC on 17 December 2014.
Revenue
$9.1 billion
+20.8% on the year
FY2007FY2014
Operating margin
16.8%
5.8% a year earlier
FY2007FY2014
Net income
$1.1 billion
+318.8% on the year
FY2007FY2014
Diluted EPS
$0.87
+314.3% 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
9,072
7,509
8,719
+20.8%
Cost of revenue
5,229
4,518
5,406
+15.7%
Gross profit
3,843
2,991
3,313
+28.5%
Gross margin
42.4%
39.8%
38.0%
Research and development
1,428
1,320
1,237
+8.2%
Selling, general and administrative
n/a
n/a
1,076
Operating income
1,520
432
411
+251.9%
Operating margin
16.8%
5.8%
4.7%
Interest expense
95.0
95.0
95.0
0.0%
Pre-tax income
1,448
350
316
+313.7%
Income tax
376
94.0
207
+300.0%
Effective tax rate
26.0%
26.9%
65.5%
Net income
1,072
256
109
+318.8%
Net margin
11.8%
3.4%
1.3%
Diluted EPS
$0.87
$0.21
$0.09
+314.3%
$ 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
1,800
623
1,851
+188.9%
Capital expenditure
241
197
162
+22.3%
Free cash flow
1,559
426
1,689
+266.0%
Free cash flow margin
17.2%
5.7%
19.4%
Cash from investing
-161
215
-4,660
Cash from financing
-348
-519
-1,754
Depreciation and amortisation
375
410
422
-8.5%
Share-based compensation
177
162
182
+9.3%
Buybacks
0.0
245
1,416
Dividends paid
485
456
434
+6.4%
Dividend per share
$0.10
n/a
n/a
Diluted shares, weighted
1,231m
1,219m
1,277m
+1.0%
Shares outstanding at period end
1,221m
1,204m
1,197m
+1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
7,868
7,088
7,235
+11.0%
Debt
1,947
1,946
1,946
+0.1%
Other liabilities
3,359
3,009
2,921
+11.6%
Total liabilities and equity
13,174
12,043
12,102
+9.4%
Fixed assets
861
850
910
+1.3%
Goodwill
3,304
3,294
3,518
+0.3%
Intangible assets
951
1,103
1,355
-13.8%
Investments
1,095
1,185
1,600
-7.6%
Cash and equivalents
3,002
1,711
1,392
+75.5%
Receivables
1,670
1,633
1,220
+2.3%
Inventory
1,567
1,413
1,272
+10.9%
Other assets
724
854
835
-15.2%
Total assets
13,174
12,043
12,102
+9.4%
10-K for the year ended 26 October 2014, filed 17 December 2014: the filing.