Amgen (AMGN) FY2014 results: revenue $20.1 billion, up 7.4% on the year
Amgen Inc. (AMGN) reported revenue of $20.1 billion for fiscal 2014, the year ended 31 December 2014, up 7.4% on the year before. Net income was $5.2 billion, up 1.5%, and diluted earnings per share $6.70. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$20.1 billion
+7.4% on the year
FY2007FY2014
Operating margin
30.9%
31.4% a year earlier
FY2007FY2014
Net income
$5.2 billion
+1.5% on the year
FY2007FY2014
Diluted EPS
$6.70
+0.9% 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
20,063
18,676
17,265
+7.4%
Cost of revenue
4,422
3,346
3,199
+32.2%
Gross profit
15,641
15,330
14,066
+2.0%
Gross margin
78.0%
82.1%
81.5%
Research and development
4,297
4,083
3,380
+5.2%
Selling, general and administrative
4,699
5,184
4,814
-9.4%
Operating income
6,191
5,867
5,577
+5.5%
Operating margin
30.9%
31.4%
32.3%
Interest expense
1,071
1,022
1,053
+4.8%
Pre-tax income
5,585
5,265
5,009
+6.1%
Income tax
427
184
664
+132.1%
Effective tax rate
7.6%
3.5%
13.3%
Net income
5,158
5,081
4,345
+1.5%
Net margin
25.7%
27.2%
25.2%
Diluted EPS
$6.70
$6.64
$5.52
+0.9%
$ 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
8,952
6,526
5,882
+37.2%
Capital expenditure
718
693
689
+3.6%
Free cash flow
8,234
5,833
5,193
+41.2%
Free cash flow margin
41.0%
31.2%
30.1%
Cash from investing
-5,752
-8,469
-9,990
Cash from financing
-3,274
2,491
419
Depreciation and amortisation
2,092
1,286
1,088
+62.7%
Share-based compensation
408
403
362
+1.2%
Buybacks
138
832
4,607
-83.4%
Dividends paid
1,851
1,415
1,118
+30.8%
Diluted shares, weighted
770m
765m
787m
+0.7%
Shares outstanding at period end
760m
755m
756m
+0.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
25,778
22,096
19,060
+16.7%
Debt
30,588
32,128
26,529
-4.8%
Other liabilities
12,643
11,901
8,709
+6.2%
Total liabilities and equity
69,009
66,125
54,298
+4.4%
Fixed assets
5,223
5,349
5,326
-2.4%
Goodwill
14,788
14,968
12,662
-1.2%
Intangible assets
12,693
13,262
3,968
-4.3%
Investments
23,295
15,596
20,804
+49.4%
Cash and equivalents
3,731
3,805
3,257
-1.9%
Receivables
2,546
2,697
2,518
-5.6%
Inventory
2,647
3,019
2,744
-12.3%
Other assets
4,086
7,429
3,019
-45.0%
Total assets
69,009
66,125
54,298
+4.4%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.