Aptiv (APTV) FY2014 results: revenue $15.5 billion, up 3.0% on the year
Aptiv plc (APTV) reported revenue of $15.5 billion for fiscal 2014, the year ended 31 December 2014, up 3.0% on the year before. Net income was $1.4 billion, up 11.5%, and diluted earnings per share $4.48. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2015.
Revenue
$15.5 billion
+3.0% on the year
FY2010FY2014
Operating margin
11.3%
10.8% a year earlier
FY2010FY2014
Net income
$1.4 billion
+11.5% on the year
FY2010FY2014
Diluted EPS
$4.48
+15.2% on the year
FY2010FY2014
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
15,499
15,051
14,070
+3.0%
Cost of revenue
12,471
12,274
11,566
+1.6%
Gross profit
3,028
2,777
2,504
+9.0%
Gross margin
19.5%
18.5%
17.8%
Research and development
1,200
1,200
1,100
0.0%
Selling, general and administrative
1,036
916
875
+13.1%
Operating income
1,758
1,627
1,390
+8.1%
Operating margin
11.3%
10.8%
9.9%
Interest expense
135
143
136
-5.6%
Pre-tax income
1,615
1,466
1,259
+10.2%
Income tax
255
240
174
+6.2%
Effective tax rate
15.8%
16.4%
13.8%
Net income
1,351
1,212
1,077
+11.5%
Net margin
8.7%
8.1%
7.7%
Diluted EPS
$4.48
$3.89
$3.33
+15.2%
$ 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
2,135
1,750
1,478
+22.0%
Capital expenditure
779
605
642
+28.8%
Free cash flow
1,356
1,145
836
+18.4%
Free cash flow margin
8.7%
7.6%
5.9%
Cash from investing
-1,186
-655
-1,631
Cash from financing
-1,398
-822
-105
Depreciation and amortisation
540
499
445
+8.2%
Share-based compensation
73.0
46.0
20.0
+58.7%
Buybacks
1,024
457
403
+124.1%
Dividends paid
301
211
0.0
+42.7%
Dividend per share
$1.00
$0.68
$0.00
+47.1%
Diluted shares, weighted
302m
312m
323m
-3.2%
Shares outstanding at period end
292m
306m
315m
-4.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,510
2,911
2,345
-13.8%
Non-controlling interest
503
523
485
-3.8%
Debt
2,426
2,412
2,464
+0.6%
Other liabilities
5,282
5,201
4,882
+1.6%
Total liabilities and equity
10,721
11,047
10,176
-3.0%
Fixed assets
3,021
2,930
2,615
+3.1%
Goodwill
656
496
473
+32.3%
Intangible assets
728
698
803
+4.3%
Cash and equivalents
859
1,337
1,019
-35.8%
Receivables
2,400
2,454
2,425
-2.2%
Inventory
1,013
1,014
1,066
-0.1%
Other assets
2,044
2,118
1,775
-3.5%
Total assets
10,721
11,047
10,176
-3.0%
10-K for the year ended 31 December 2014, filed 9 February 2015: the filing.