Franklin Templeton (BEN) FY2014 results: revenue $8.5 billion, up 6.3% on the year
Franklin Templeton Inc. (BEN) reported revenue of $8.5 billion for fiscal 2014, the year ended 30 September 2014, up 6.3% on the year before. Net income was $2.4 billion, up 10.9%, and diluted earnings per share $3.79. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2014.
Revenue
$8.5 billion
+6.3% on the year
FY2007FY2014
Operating margin
37.9%
36.6% a year earlier
FY2007FY2014
Net income
$2.4 billion
+10.9% on the year
FY2007FY2014
Diluted EPS
$3.79
+12.5% 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
8,491
7,985
7,101
+6.3%
Operating income
3,221
2,921
2,515
+10.3%
Operating margin
37.9%
36.6%
35.4%
Interest expense
47.4
46.9
36.7
+1.1%
Pre-tax income
3,410
3,027
2,678
+12.7%
Income tax
998
856
763
+16.6%
Effective tax rate
29.3%
28.3%
28.5%
Net income
2,384
2,150
1,931
+10.9%
Net margin
28.1%
26.9%
27.2%
Diluted EPS
$3.79
$3.37
$2.98
+12.5%
$ 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
2,138
2,036
1,066
+5.0%
Capital expenditure
53.1
62.2
78.4
-14.6%
Free cash flow
2,085
1,974
988
+5.6%
Free cash flow margin
24.6%
24.7%
13.9%
Cash from investing
391
233
873
+67.7%
Cash from financing
-1,195
-2,018
-1,085
Depreciation and amortisation
82.6
76.9
67.9
+7.4%
Share-based compensation
128
113
101
+12.6%
Buybacks
622
491
797
+26.7%
Dividends paid
290
883
663
-67.1%
Dividend per share
$0.48
$1.39
$1.03
-65.5%
Diluted shares, weighted
625m
634m
643m
-1.4%
Shares outstanding at period end
623m
631m
637m
-1.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
11,584
10,073
9,201
+15.0%
Non-controlling interest
628
612
559
+2.6%
Redeemable equity
235
122
n/a
+92.8%
Deposits
0.4
587
672
-99.9%
Debt
1,198
1,198
1,566
+0.0%
Other liabilities
2,711
2,798
2,753
-3.1%
Total liabilities and equity
16,357
15,390
14,752
+6.3%
Fixed assets
531
564
583
-5.9%
Goodwill
1,691
1,702
1,541
-0.6%
Intangible assets
87.5
658
601
-86.7%
Securities held for sale or to maturity
12.0
25.4
99.5
-52.8%
Loans
2.5
230
254
-98.9%
Trading assets
1,278
1,197
1,131
+6.8%
Cash and equivalents
7,596
6,323
6,051
+20.1%
Other assets
5,160
4,692
4,491
+10.0%
Total assets
16,357
15,390
14,752
+6.3%
10-K for the year ended 30 September 2014, filed 12 November 2014: the filing.