Arrow Electronics (ARW) FY2014 results: revenue $22.8 billion, up 6.6% on the year
Arrow Electronics, Inc. (ARW) reported revenue of $22.8 billion for fiscal 2014, the year ended 31 December 2014, up 6.6% on the year before. Net income was $498 million, up 24.7%, and diluted earnings per share $4.98. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2015.
Revenue
$22.8 billion
+6.6% on the year
FY2008FY2014
Operating margin
3.3%
3.2% a year earlier
FY2008FY2014
Net income
$498 million
+24.7% on the year
FY2008FY2014
Diluted EPS
$4.98
+29.4% 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
22,769
21,357
20,405
+6.6%
Cost of revenue
19,773
18,566
17,668
+6.5%
Gross profit
2,996
2,791
2,737
+7.3%
Gross margin
13.2%
13.1%
13.4%
Selling, general and administrative
1,960
1,874
1,850
+4.6%
Operating income
762
694
804
+9.9%
Operating margin
3.3%
3.2%
3.9%
Income tax
185
182
204
+1.4%
Net income
498
399
506
+24.7%
Net margin
2.2%
1.9%
2.5%
Diluted EPS
$4.98
$3.85
$4.56
+29.4%
$ 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
673
451
675
+49.4%
Capital expenditure
123
116
112
+5.5%
Free cash flow
551
335
563
+64.6%
Free cash flow margin
2.4%
1.6%
2.8%
Cash from investing
-245
-487
-409
Cash from financing
-435
-26.6
-258
Depreciation and amortisation
156
131
115
+19.0%
Share-based compensation
41.9
36.9
34.5
+13.6%
Buybacks
305
363
261
-16.0%
Diluted shares, weighted
100m
104m
111m
-3.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,154
4,180
3,983
-0.6%
Non-controlling interest
4.9
4.6
4.1
+7.5%
Debt
2,081
2,250
1,952
-7.5%
Other liabilities
6,203
5,626
4,846
+10.2%
Total liabilities and equity
12,443
12,061
10,786
+3.2%
Fixed assets
636
632
600
+0.6%
Goodwill
2,069
2,039
1,712
+1.5%
Intangible assets
336
426
414
-21.2%
Cash and equivalents
400
391
410
+2.5%
Receivables
6,044
5,770
4,924
+4.8%
Inventory
2,335
2,167
2,053
+7.8%
Other assets
622
635
674
-2.1%
Total assets
12,443
12,061
10,786
+3.2%
10-K for the year ended 31 December 2014, filed 5 February 2015: the filing.