Berkshire Hathaway (BRK.B) FY2014 results: revenue $194.7 billion, up 6.9% on the year
Berkshire Hathaway Inc. (BRK.B) reported revenue of $194.7 billion for fiscal 2014, the year ended 31 December 2014, up 6.9% on the year before. Net income was $19.9 billion, up 2.0%. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$194.7 billion
+6.9% on the year
FY2007FY2014
Operating margin
14.4%
15.8% a year earlier
FY2007FY2014
Net income
$19.9 billion
+2.0% on the year
FY2007FY2014
Diluted EPS
n/a
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
194,673
182,150
162,463
+6.9%
Operating income
28,105
28,796
20,079
-2.4%
Operating margin
14.4%
15.8%
12.4%
Interest expense
3,253
2,801
n/a
+16.1%
Pre-tax income
28,105
28,796
22,236
-2.4%
Income tax
7,935
8,951
6,924
-11.4%
Effective tax rate
28.2%
31.1%
31.1%
Net income
19,872
19,476
14,824
+2.0%
Net margin
10.2%
10.7%
9.1%
$ 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
32,010
27,704
20,950
+15.5%
Capital expenditure
15,185
11,087
9,775
+37.0%
Free cash flow
16,825
16,617
11,175
+1.3%
Free cash flow margin
8.6%
9.1%
6.9%
Depreciation and amortisation
7,370
6,508
6,154
+13.2%
Buybacks
n/a
n/a
1,296
Diluted shares, weighted
2m
2m
2m
-0.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
240,170
221,890
187,647
+8.2%
Non-controlling interest
2,857
2,595
3,941
+10.1%
Other liabilities
283,159
260,446
235,864
+8.7%
Total liabilities and equity
526,186
484,931
427,452
+8.5%
Goodwill
60,714
57,011
54,523
+6.5%
Securities held for sale or to maturity
27,636
n/a
n/a
Cash and equivalents
60,033
45,907
46,992
+30.8%
Inventory
10,236
9,860
9,675
+3.8%
Other assets
367,567
372,153
316,262
-1.2%
Total assets
526,186
484,931
427,452
+8.5%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.