Duke Energy (DUK) FY2014 results: revenue $22.5 billion, down 1.1% on the year
Duke Energy Corp. (DUK) reported revenue of $22.5 billion for fiscal 2014, the year ended 31 December 2014, down 1.1% on the year before. Net income was $1.9 billion, down 29.3%, and diluted earnings per share $2.66. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$22.5 billion
-1.1% on the year
FY2007FY2014
Operating margin
21.5%
21.3% a year earlier
FY2007FY2014
Net income
$1.9 billion
-29.3% on the year
FY2007FY2014
Diluted EPS
$2.66
-29.3% 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
22,509
22,756
17,912
-1.1%
Operating income
4,842
4,854
2,911
-0.2%
Operating margin
21.5%
21.3%
16.3%
Interest expense
1,529
1,546
1,242
-1.1%
Pre-tax income
3,763
3,795
2,234
-0.8%
Income tax
1,225
1,205
623
+1.7%
Effective tax rate
32.6%
31.8%
27.9%
Net income
1,883
2,665
1,768
-29.3%
Net margin
8.4%
11.7%
9.9%
Diluted EPS
$2.66
$3.76
$3.07
-29.3%
$ 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
6,586
6,382
5,244
+3.2%
Capital expenditure
5,384
5,526
5,501
-2.6%
Free cash flow
1,202
856
-257
+40.4%
Free cash flow margin
5.3%
3.8%
-1.4%
Cash from investing
-5,373
-4,978
-6,197
Cash from financing
-678
-1,327
267
Depreciation and amortisation
3,507
3,229
2,652
+8.6%
Share-based compensation
61.0
85.0
78.0
-28.2%
Dividends paid
2,234
2,188
1,752
+2.1%
Dividend per share
n/a
$3.09
$3.03
Diluted shares, weighted
707m
706m
575m
+0.1%
Shares outstanding at period end
707m
706m
704m
+0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
40,875
41,330
40,863
-1.1%
Non-controlling interest
24.0
78.0
78.0
-69.2%
Short-term borrowings
2,514
839
1,057
+199.6%
Debt
39,868
40,256
39,461
-1.0%
Other liabilities
37,428
32,276
32,397
+16.0%
Total liabilities and equity
120,709
114,779
113,856
+5.2%
Fixed assets
70,046
69,490
68,558
+0.8%
Goodwill
16,321
16,340
16,365
-0.1%
Intangible assets
263
378
372
-30.4%
Investments
n/a
44.0
333
Securities held for sale or to maturity
2,004
n/a
n/a
Trading assets
7.0
18.0
33.0
-61.1%
Cash and equivalents
463
476
1,424
-2.7%
Receivables
791
1,286
1,516
-38.5%
Other assets
30,814
26,747
25,255
+15.2%
Total assets
120,709
114,779
113,856
+5.2%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.