Chevron (CVX) FY2014 results: revenue $212.0 billion, down 7.4% on the year
Chevron Corp. (CVX) reported revenue of $212.0 billion for fiscal 2014, the year ended 31 December 2014, down 7.4% on the year before. Net income was $19.2 billion, down 10.2%, and diluted earnings per share $10.14. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$212.0 billion
-7.4% on the year
FY2007FY2014
Operating margin
14.7%
15.7% a year earlier
FY2007FY2014
Net income
$19.2 billion
-10.2% on the year
FY2007FY2014
Diluted EPS
$10.14
-8.6% 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
211,970
228,848
241,909
-7.4%
Research and development
707
750
648
-5.7%
Selling, general and administrative
4,494
4,510
4,724
-0.4%
Operating income
31,202
35,905
46,332
-13.1%
Operating margin
14.7%
15.7%
19.2%
Interest expense
0.0
0.0
0.0
Pre-tax income
31,202
35,905
46,332
-13.1%
Income tax
11,892
14,308
19,996
-16.9%
Effective tax rate
38.1%
39.8%
43.2%
Net income
19,241
21,423
26,179
-10.2%
Net margin
9.1%
9.4%
10.8%
Diluted EPS
$10.14
$11.09
$13.32
-8.6%
$ 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
31,475
35,002
38,812
-10.1%
Capital expenditure
35,407
37,985
30,938
-6.8%
Free cash flow
-3,932
-2,983
7,874
Free cash flow margin
-1.9%
-1.3%
3.3%
Cash from investing
-29,893
-35,609
-24,796
Cash from financing
-4,999
-3,821
-8,980
Depreciation and amortisation
16,793
14,186
13,413
+18.4%
Buybacks
5,006
5,004
5,004
+0.0%
Dividends paid
7,928
7,474
6,844
+6.1%
Diluted shares, weighted
1,898m
1,932m
1,965m
-1.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
155,028
149,113
136,524
+4.0%
Non-controlling interest
1,163
1,314
1,308
-11.5%
Debt
27,750
20,334
12,093
+36.5%
Other liabilities
82,085
82,992
83,057
-1.1%
Total liabilities and equity
266,026
253,753
232,982
+4.8%
Fixed assets
183,173
164,829
141,348
+11.1%
Goodwill
4,593
4,639
4,640
-1.0%
Investments
422
263
266
+60.5%
Cash and equivalents
12,785
16,245
20,939
-21.3%
Inventory
6,505
6,380
6,144
+2.0%
Other assets
58,548
61,397
59,645
-4.6%
Total assets
266,026
253,753
232,982
+4.8%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.