American Express (AXP) FY2014 results: revenue $34.2 billion, up 4.0% on the year
American Express Co. (AXP) reported revenue of $34.2 billion for fiscal 2014, the year ended 31 December 2014, up 4.0% on the year before. Net income was $5.9 billion, up 9.8%, and diluted earnings per share $5.56. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$34.2 billion
+4.0% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$5.9 billion
+9.8% on the year
FY2007FY2014
Diluted EPS
$5.56
+13.9% 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
34,188
32,870
31,582
+4.0%
Interest expense
1,707
1,958
2,226
-12.8%
Pre-tax income
8,991
7,888
6,451
+14.0%
Income tax
3,106
2,529
1,969
+22.8%
Effective tax rate
34.5%
32.1%
30.5%
Net income
5,885
5,359
4,482
+9.8%
Net margin
17.2%
16.3%
14.2%
Diluted EPS
$5.56
$4.88
$3.89
+13.9%
$ 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
10,990
8,547
7,082
+28.6%
Capital expenditure
1,195
1,006
1,053
+18.8%
Free cash flow
9,795
7,541
6,029
+29.9%
Free cash flow margin
28.7%
22.9%
19.1%
Depreciation and amortisation
1,012
1,020
991
-0.8%
Share-based compensation
290
350
297
-17.1%
Buybacks
4,389
3,943
3,952
+11.3%
Dividends paid
1,041
939
902
+10.9%
Dividend per share
$1.01
$0.89
$0.80
+13.5%
Diluted shares, weighted
1,051m
1,089m
1,141m
-3.5%
Shares outstanding at period end
1,023m
1,064m
1,105m
-3.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
20,673
19,496
18,886
+6.0%
Deposits
44,171
41,763
39,803
+5.8%
Short-term borrowings
3,480
5,021
3,314
-30.7%
Debt
57,955
55,330
58,973
+4.7%
Other liabilities
32,824
31,390
32,164
+4.6%
Total liabilities and equity
159,103
153,000
153,140
+4.0%
Fixed assets
3,938
3,875
3,635
+1.6%
Goodwill
3,024
3,198
3,181
-5.4%
Intangible assets
854
817
993
+4.5%
Securities held for sale or to maturity
4,381
4,844
5,267
-9.6%
Loans
69,184
65,977
63,758
+4.9%
Other assets
77,722
74,289
76,306
+4.6%
Total assets
159,103
153,000
153,140
+4.0%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.