Ball (BALL) FY2014 results: revenue $8.6 billion, up 1.2% on the year
Ball Corp. (BALL) reported revenue of $8.6 billion for fiscal 2014, the year ended 31 December 2014, up 1.2% on the year before. Net income was $470 million, up 15.5%, and diluted earnings per share $1.65. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$8.6 billion
+1.2% on the year
FY2008FY2014
Operating margin
9.8%
9.4% a year earlier
FY2008FY2014
Net income
$470 million
+15.5% on the year
FY2008FY2014
Diluted EPS
$1.65
+20.9% 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
8,570
8,468
8,736
+1.2%
Gross profit
1,434
1,339
1,319
+7.1%
Gross margin
16.7%
15.8%
15.1%
Research and development
27.0
31.2
26.8
-13.5%
Selling, general and administrative
466
419
386
+11.4%
Operating income
839
795
790
+5.4%
Operating margin
9.8%
9.4%
9.0%
Interest expense
193
212
195
-8.9%
Pre-tax income
646
584
596
+10.6%
Income tax
150
150
172
+0.2%
Effective tax rate
23.2%
25.6%
28.9%
Net income
470
407
396
+15.5%
Net margin
5.5%
4.8%
4.5%
Diluted EPS
$1.65
$1.36
$1.25
+20.9%
$ 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
1,012
839
853
+20.7%
Capital expenditure
391
378
305
+3.3%
Free cash flow
622
461
548
+34.9%
Free cash flow margin
7.3%
5.4%
6.3%
Cash from investing
-391
-379
-356
Cash from financing
-845
-204
-487
Depreciation and amortisation
281
300
283
-6.3%
Share-based compensation
25.1
24.5
26.7
+2.4%
Buybacks
397
432
547
-8.0%
Dividends paid
73.0
75.2
61.8
-2.9%
Dividend per share
$0.26
$0.26
$0.20
0.0%
Diluted shares, weighted
285m
298m
316m
-4.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,033
1,225
1,115
-15.6%
Non-controlling interest
206
191
175
+7.9%
Debt
3,049
3,605
3,305
-15.4%
Other liabilities
3,283
2,799
2,912
+17.3%
Total liabilities and equity
7,571
7,820
7,507
-3.2%
Fixed assets
2,431
2,372
2,277
+2.5%
Goodwill
2,254
2,404
2,359
-6.2%
Intangible assets
137
166
163
-17.5%
Cash and equivalents
191
416
174
-54.1%
Receivables
793
799
865
-0.7%
Inventory
1,017
1,028
1,044
-1.1%
Other assets
748
634
625
+18.0%
Total assets
7,571
7,820
7,507
-3.2%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.