Bristol-Myers Squibb (BMY) FY2014 results: revenue $15.9 billion, down 3.1% on the year
Bristol-Myers Squibb Co. (BMY) reported revenue of $15.9 billion for fiscal 2014, the year ended 31 December 2014, down 3.1% on the year before. Net income was $2.0 billion, down 21.8%, and diluted earnings per share $1.20. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$15.9 billion
-3.1% on the year
FY2007FY2014
Operating margin
15.0%
17.6% a year earlier
FY2007FY2014
Net income
$2.0 billion
-21.8% on the year
FY2007FY2014
Diluted EPS
$1.20
-22.1% 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
15,879
16,385
17,621
-3.1%
Cost of revenue
3,932
4,619
4,610
-14.9%
Gross profit
11,947
11,766
13,011
+1.5%
Gross margin
75.2%
71.8%
73.8%
Research and development
4,534
3,731
3,904
+21.5%
Selling, general and administrative
4,822
4,939
4,220
-2.4%
Operating income
2,381
2,891
2,340
-17.6%
Operating margin
15.0%
17.6%
13.3%
Interest expense
203
199
182
+2.0%
Pre-tax income
2,381
2,891
2,340
-17.6%
Income tax
352
311
-161
+13.2%
Effective tax rate
14.8%
10.8%
-6.9%
Net income
2,004
2,563
1,960
-21.8%
Net margin
12.6%
15.6%
11.1%
Diluted EPS
$1.20
$1.54
$1.16
-22.1%
$ 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
3,148
3,545
6,941
-11.2%
Capital expenditure
526
537
548
-2.0%
Free cash flow
2,622
3,008
6,393
-12.8%
Free cash flow margin
16.5%
18.4%
36.3%
Cash from investing
1,216
-572
-6,727
Cash from financing
-2,437
-1,068
-4,333
Depreciation and amortisation
467
763
681
-38.8%
Share-based compensation
213
191
154
+11.5%
Buybacks
n/a
433
2,403
Dividends paid
2,398
2,309
2,286
+3.9%
Dividend per share
$1.45
$1.41
$1.37
+2.8%
Diluted shares, weighted
1,670m
1,662m
1,688m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
14,852
15,154
13,623
-2.0%
Non-controlling interest
131
82.0
15.0
+59.8%
Debt
7,832
8,340
7,394
-6.1%
Other liabilities
10,934
15,016
14,865
-27.2%
Total liabilities and equity
33,749
38,592
35,897
-12.5%
Fixed assets
4,417
4,579
5,333
-3.5%
Goodwill
7,027
7,096
7,635
-1.0%
Intangible assets
1,753
2,318
8,778
-24.4%
Investments
6,272
4,686
4,696
+33.8%
Cash and equivalents
5,571
3,586
1,656
+55.4%
Receivables
2,100
1,690
1,708
+24.3%
Inventory
1,560
1,498
1,657
+4.1%
Other assets
5,049
13,139
4,434
-61.6%
Total assets
33,749
38,592
35,897
-12.5%
10-K for the year ended 31 December 2014, filed 13 February 2015: the filing.