Chubb (CB) FY2014 results: revenue $19.2 billion, down 0.5% on the year
Chubb Ltd. (CB) reported revenue of $19.2 billion for fiscal 2014, the year ended 31 December 2014, down 0.5% on the year before. Net income was $2.9 billion, down 24.1%, and diluted earnings per share $8.42. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$19.2 billion
-0.5% on the year
FY2007FY2014
Operating margin
18.2%
22.0% a year earlier
FY2007FY2014
Net income
$2.9 billion
-24.1% on the year
FY2007FY2014
Diluted EPS
$8.42
-22.9% 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
19,171
19,261
17,936
-0.5%
Operating income
3,487
4,238
2,976
-17.7%
Operating margin
18.2%
22.0%
16.6%
Interest expense
280
275
250
+1.8%
Pre-tax income
3,487
n/a
n/a
Income tax
634
480
270
+32.1%
Effective tax rate
18.2%
n/a
n/a
Net income
2,853
3,758
2,706
-24.1%
Net margin
14.9%
19.5%
15.1%
Diluted EPS
$8.42
$10.92
$7.89
-22.9%
$ 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
4,496
4,022
3,995
+11.8%
Cash from investing
-2,504
-4,442
-3,439
Cash from financing
-1,777
391
-550
Buybacks
1,429
287
11.0
+397.9%
Dividends paid
862
517
815
+66.7%
Dividend per share
$2.70
$2.02
$2.06
+33.7%
Diluted shares, weighted
339m
344m
343m
-1.5%
Shares outstanding at period end
329m
340m
340m
-3.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
29,587
28,825
27,531
+2.6%
Short-term borrowings
1,150
1,901
1,401
-39.5%
Debt
3,357
3,807
3,360
-11.8%
Other liabilities
64,154
59,977
60,253
+7.0%
Total liabilities and equity
98,248
94,510
92,545
+4.0%
Goodwill
4,904
4,603
4,319
+6.5%
Intangible assets
717
695
554
+3.2%
Securities held for sale or to maturity
56,726
55,352
54,576
+2.5%
Cash and equivalents
655
579
615
+13.1%
Other assets
35,246
33,281
32,481
+5.9%
Total assets
98,248
94,510
92,545
+4.0%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.