Boeing (BA) FY2014 results: revenue $90.8 billion, up 4.8% on the year
Boeing Co. (BA) reported revenue of $90.8 billion for fiscal 2014, the year ended 31 December 2014, up 4.8% on the year before. Net income was $5.4 billion, up 18.8%, and diluted earnings per share $7.38. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2015.
Revenue
$90.8 billion
+4.8% on the year
FY2007FY2014
Operating margin
8.2%
7.6% a year earlier
FY2007FY2014
Net income
$5.4 billion
+18.8% on the year
FY2007FY2014
Diluted EPS
$7.38
+23.8% 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
90,762
86,623
81,698
+4.8%
Cost of revenue
76,752
73,268
68,644
+4.8%
Gross profit
14,010
13,355
13,054
+4.9%
Gross margin
15.4%
15.4%
16.0%
Research and development
3,047
3,071
3,298
-0.8%
Operating income
7,473
6,562
6,290
+13.9%
Operating margin
8.2%
7.6%
7.7%
Pre-tax income
7,137
6,232
5,910
+14.5%
Income tax
1,691
1,646
2,007
+2.7%
Effective tax rate
23.7%
26.4%
34.0%
Net income
5,446
4,585
3,900
+18.8%
Net margin
6.0%
5.3%
4.8%
Diluted EPS
$7.38
$5.96
$5.11
+23.8%
$ 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
8,858
8,179
7,508
+8.3%
Capital expenditure
2,236
2,098
1,703
+6.6%
Free cash flow
6,622
6,081
5,805
+8.9%
Free cash flow margin
7.3%
7.0%
7.1%
Cash from investing
2,467
-5,154
-3,757
Cash from financing
-8,593
-4,249
-3,477
Depreciation and amortisation
1,906
1,844
1,811
+3.4%
Share-based compensation
195
206
193
-5.3%
Buybacks
6,001
2,801
n/a
+114.2%
Dividends paid
2,115
1,467
1,322
+44.2%
Dividend per share
$3.10
$2.19
$1.81
+41.9%
Diluted shares, weighted
737m
768m
762m
-4.0%
Shares outstanding at period end
1,012m
1,012m
1,012m
0.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,665
14,875
5,867
-41.7%
Non-controlling interest
125
122
100
+2.5%
Debt
9,070
9,635
10,409
-5.9%
Other liabilities
75,061
68,031
72,520
+10.3%
Total liabilities and equity
92,921
92,663
88,896
+0.3%
Fixed assets
11,007
10,224
9,660
+7.7%
Goodwill
5,119
5,043
5,035
+1.5%
Intangible assets
2,869
3,052
3,111
-6.0%
Investments
2,513
7,374
4,397
-65.9%
Cash and equivalents
11,733
9,088
10,341
+29.1%
Receivables
7,729
6,546
5,608
+18.1%
Other assets
51,951
51,336
50,744
+1.2%
Total assets
92,921
92,663
88,896
+0.3%
10-K for the year ended 31 December 2014, filed 12 February 2015: the filing.