Cabot (CBT) FY2014 results: revenue $3.6 billion, up 5.5% on the year
Cabot Corp. (CBT) reported revenue of $3.6 billion for fiscal 2014, the year ended 30 September 2014, up 5.5% on the year before. Net income was $199 million, up 30.1%, and diluted earnings per share $3.03. The figures are the company's own, from the 10-K it filed with the SEC on 26 November 2014.
Revenue
$3.6 billion
+5.5% on the year
FY2008FY2014
Operating margin
9.2%
7.8% a year earlier
FY2008FY2014
Net income
$199 million
+30.1% on the year
FY2008FY2014
Diluted EPS
$3.03
+28.4% on the year
FY2008FY2014
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
3,647
3,456
3,291
+5.5%
Cost of revenue
2,926
2,827
2,652
+3.5%
Gross profit
721
633
644
+13.9%
Gross margin
19.8%
18.3%
19.6%
Research and development
60.0
68.0
72.0
-11.8%
Selling, general and administrative
326
297
281
+9.8%
Operating income
335
268
291
+25.0%
Operating margin
9.2%
7.8%
8.8%
Interest expense
55.0
62.0
46.0
-11.3%
Pre-tax income
308
210
245
+46.7%
Income tax
92.0
60.0
55.0
+53.3%
Effective tax rate
29.9%
28.6%
22.4%
Net income
199
153
388
+30.1%
Net margin
5.5%
4.4%
11.8%
Diluted EPS
$3.03
$2.36
$5.99
+28.4%
$ 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
315
419
415
-24.8%
Capital expenditure
171
264
281
-35.2%
Free cash flow
144
155
134
-7.1%
Free cash flow margin
3.9%
4.5%
4.1%
Cash from investing
-16.0
-227
-1,180
Cash from financing
-302
-206
606
Depreciation and amortisation
201
190
154
+5.8%
Share-based compensation
14.0
16.0
18.0
-12.5%
Buybacks
18.0
6.0
36.0
+200.0%
Dividends paid
54.0
51.0
49.0
+5.9%
Dividend per share
$0.84
$0.80
$0.76
+5.0%
Diluted shares, weighted
65m
64m
64m
+0.9%
Shares outstanding at period end
64m
64m
63m
+0.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,942
1,951
1,813
-0.5%
Non-controlling interest
122
132
126
-7.6%
Redeemable equity
27.0
n/a
n/a
Debt
1,072
1,298
1,419
-17.4%
Other liabilities
921
852
1,041
+8.1%
Total liabilities and equity
4,084
4,233
4,399
-3.5%
Fixed assets
1,581
1,600
1,547
-1.2%
Goodwill
536
502
478
+6.8%
Intangible assets
347
308
330
+12.7%
Cash and equivalents
67.0
95.0
120
-29.5%
Inventory
498
455
533
+9.5%
Other assets
1,055
1,273
1,391
-17.1%
Total assets
4,084
4,233
4,399
-3.5%
10-K for the year ended 30 September 2014, filed 26 November 2014: the filing.