BGC Group (BGC) FY2014 results: revenue $1.8 billion, up 2.4% on the year
BGC Group, Inc. (BGC) reported revenue of $1.8 billion for fiscal 2014, the year ended 31 December 2014, up 2.4% on the year before. Net income was -$3 million, and diluted earnings per share $-0.01. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$1.8 billion
+2.4% on the year
FY2009FY2014
Operating margin
-3.2%
-27.9% a year earlier
FY2009FY2014
Net income
-$3 million
FY2009FY2014
Diluted EPS
-$0.01
FY2009FY2014
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
1,787
1,745
1,726
+2.4%
Operating income
-57.3
-487
15.0
Operating margin
-3.2%
-27.9%
0.9%
Interest expense
37.9
38.3
34.9
-1.0%
Pre-tax income
-13.8
266
55.7
Income tax
0.7
92.2
20.2
-99.3%
Effective tax rate
n/a
34.7%
36.3%
Net income
-3.0
70.9
23.9
Net margin
-0.2%
4.1%
1.4%
Diluted EPS
-$0.01
$0.36
$0.16
$ 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
n/a
166
171
Capital expenditure
14.1
23.0
36.8
-38.8%
Free cash flow
n/a
143
134
Free cash flow margin
n/a
8.2%
7.8%
Cash from investing
n/a
527
-68.0
Cash from financing
n/a
-363
-85.0
Depreciation and amortisation
46.1
47.2
51.0
-2.2%
Share-based compensation
n/a
n/a
131
Buybacks
100
15.5
0.3
+545.7%
Dividends paid
105
91.4
90.6
+15.0%
Dividend per share
$0.48
$0.48
$0.63
0.0%
Diluted shares, weighted
221m
265m
281m
-16.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
402
464
334
-13.5%
Non-controlling interest
180
238
93.1
-24.3%
Redeemable equity
59.5
66.9
78.8
-11.1%
Debt
707
408
451
+73.1%
Other liabilities
1,403
901
681
+55.7%
Total liabilities and equity
2,751
2,079
1,639
+32.3%
Fixed assets
112
128
141
-12.2%
Goodwill
393
163
165
+140.3%
Intangible assets
28.0
18.2
20.3
+53.9%
Securities borrowed
62.7
n/a
n/a
Cash and equivalents
711
717
388
-0.9%
Other assets
1,445
1,053
924
+37.2%
Total assets
2,751
2,079
1,639
+32.3%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.