Cboe Global Markets (CBOE) FY2014 results: revenue $617 million, up 7.9% on the year
Cboe Global Markets, Inc. (CBOE) reported revenue of $617 million for fiscal 2014, the year ended 31 December 2014, up 7.9% on the year before. Net income was $190 million, up 7.8%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$617 million
+7.9% on the year
FY2009FY2014
Operating margin
50.8%
50.0% a year earlier
FY2009FY2014
Net income
$190 million
+7.8% on the year
FY2009FY2014
Diluted EPS
$2.21
+11.1% on the year
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
617
572
512
+7.9%
Operating income
314
286
244
+9.8%
Operating margin
50.8%
50.0%
47.6%
Interest expense
0.0
0.0
n/a
Pre-tax income
310
284
243
+9.2%
Income tax
120
108
85.2
+11.4%
Effective tax rate
38.7%
38.0%
35.1%
Net income
190
176
157
+7.8%
Net margin
30.7%
30.8%
30.7%
Diluted EPS
$2.21
$1.99
$1.78
+11.1%
$ 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
263
224
201
+17.1%
Capital expenditure
50.2
28.7
30.1
+74.9%
Free cash flow
213
196
170
+8.6%
Free cash flow margin
34.4%
34.2%
33.3%
Cash from investing
n/a
n/a
-33.0
Cash from financing
n/a
n/a
-167
Depreciation and amortisation
39.9
34.5
31.5
+15.7%
Share-based compensation
15.6
20.8
12.3
-25.2%
Buybacks
168
45.3
49.7
+271.7%
Dividends paid
67.0
58.4
47.8
+14.8%
Dividend per share
$0.78
n/a
n/a
Diluted shares, weighted
85m
87m
87m
-2.2%
Shares outstanding at period end
84m
87m
87m
-3.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
250
285
239
-12.1%
Redeemable equity
0.0
n/a
n/a
Debt
0.0
0.0
0.0
Other liabilities
134
157
99.7
-14.8%
Total liabilities and equity
384
442
339
-13.1%
Fixed assets
66.9
67.3
74.0
-0.7%
Goodwill
0.0
n/a
n/a
Intangible assets
0.0
45.9
42.7
Cash and equivalents
148
221
136
-33.2%
Receivables
58.4
49.9
45.7
+17.0%
Other assets
111
57.1
40.8
+93.8%
Total assets
384
442
339
-13.1%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.