DTE Energy (DTE) FY2014 results: revenue $12.3 billion, up 27.3% on the year
DTE Energy Co. (DTE) reported revenue of $12.3 billion for fiscal 2014, the year ended 31 December 2014, up 27.3% on the year before. Net income was $905 million, up 36.9%, and diluted earnings per share $5.10. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$12.3 billion
+27.3% on the year
FY2010FY2014
Operating margin
12.9%
12.5% a year earlier
FY2010FY2014
Net income
$905 million
+36.9% on the year
FY2010FY2014
Diluted EPS
$5.10
+35.6% on the year
FY2010FY2014
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
12,301
9,661
8,791
+27.3%
Operating income
1,590
1,203
1,279
+32.2%
Operating margin
12.9%
12.5%
14.5%
Interest expense
429
436
440
-1.6%
Pre-tax income
1,275
922
960
+38.3%
Income tax
364
254
286
+43.3%
Effective tax rate
28.5%
27.5%
29.8%
Net income
905
661
610
+36.9%
Net margin
7.4%
6.8%
6.9%
Diluted EPS
$5.10
$3.76
$3.55
+35.6%
$ 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
1,845
2,154
2,209
-14.3%
Cash from investing
-2,060
-1,906
-1,769
Cash from financing
211
-261
-443
Depreciation and amortisation
1,145
1,094
1,018
+4.7%
Share-based compensation
n/a
99.0
83.0
Buybacks
52.0
0.0
0.0
Dividends paid
470
445
407
+5.6%
Dividend per share
$2.69
$2.59
$2.42
+3.9%
Diluted shares, weighted
177m
175m
172m
+1.1%
Shares outstanding at period end
177m
177m
172m
-0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,327
7,921
7,373
+5.1%
Non-controlling interest
15.0
33.0
38.0
-54.5%
Debt
9,015
8,243
8,071
+9.4%
Other liabilities
10,470
9,738
10,857
+7.5%
Total liabilities and equity
27,827
25,935
26,339
+7.3%
Fixed assets
16,820
15,800
14,684
+6.5%
Goodwill
2,018
2,018
2,018
0.0%
Intangible assets
111
134
155
-17.2%
Investments
1,869
1,794
1,591
+4.2%
Cash and equivalents
48.0
52.0
65.0
-7.7%
Receivables
1,504
1,542
1,336
-2.5%
Other assets
5,457
4,595
6,490
+18.8%
Total assets
27,827
25,935
26,339
+7.3%
10-K for the year ended 31 December 2014, filed 13 February 2015: the filing.