Salesforce (CRM) FY2014 results: revenue $4.1 billion, up 33.5% on the year
Salesforce, Inc. (CRM) reported revenue of $4.1 billion for fiscal 2014, the year ended 31 January 2014, up 33.5% on the year before. Net income was -$232 million, and diluted earnings per share $-0.39. The figures are the company's own, from the 10-K it filed with the SEC on 5 March 2014.
Revenue
$4.1 billion
+33.5% on the year
FY2008FY2014
Operating margin
-7.0%
-3.6% a year earlier
FY2008FY2014
Net income
-$232 million
FY2008FY2014
Diluted EPS
-$0.39
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
4,071
3,050
2,267
+33.5%
Cost of revenue
968
684
489
+41.7%
Gross profit
3,103
2,367
1,778
+31.1%
Gross margin
76.2%
77.6%
78.4%
Research and development
624
429
295
+45.2%
Operating income
-286
-111
-35.1
Operating margin
-7.0%
-3.6%
-1.5%
Interest expense
77.2
30.9
17.0
+149.5%
Pre-tax income
-358
-128
-33.3
Income tax
-126
143
-21.7
Net income
-232
-270
-11.6
Net margin
-5.7%
-8.9%
-0.5%
Diluted EPS
-$0.39
-$0.48
-$0.02
$ 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
884
737
592
+19.9%
Capital expenditure
299
176
152
+70.3%
Free cash flow
585
561
440
+4.1%
Free cash flow margin
14.4%
18.4%
19.4%
Cash from investing
-2,432
-939
-490
Cash from financing
1,590
335
75.8
+375.3%
Depreciation and amortisation
369
217
157
+70.4%
Share-based compensation
503
379
229
+32.7%
Diluted shares, weighted
598m
565m
541m
+5.8%
Shares outstanding at period end
610m
586m
548m
+4.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,039
2,318
1,587
+31.1%
Redeemable equity
26.7
53.6
78.7
-50.2%
Debt
1,874
521
575
+259.5%
Other liabilities
4,214
2,636
1,923
+59.8%
Total liabilities and equity
9,153
5,529
4,164
+65.5%
Fixed assets
1,241
605
528
+105.2%
Goodwill
3,501
1,529
785
+128.9%
Intangible assets
771
49.4
46.1
+1,461.9%
Investments
539
1,011
840
-46.7%
Cash and equivalents
782
747
607
+4.6%
Receivables
1,361
873
684
+55.9%
Other assets
959
715
674
+34.1%
Total assets
9,153
5,529
4,164
+65.5%
10-K for the year ended 31 January 2014, filed 5 March 2014: the filing.