Elevance Health (ELV) FY2014 results: revenue $73.9 billion, up 4.0% on the year
Elevance Health, Inc. (ELV) reported revenue of $73.9 billion for fiscal 2014, the year ended 31 December 2014, up 4.0% on the year before. Net income was $2.6 billion, up 3.2%, and diluted earnings per share $8.99. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$73.9 billion
+4.0% on the year
FY2007FY2014
Operating margin
6.0%
5.6% a year earlier
FY2007FY2014
Net income
$2.6 billion
+3.2% on the year
FY2007FY2014
Diluted EPS
$8.99
+9.6% 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
73,874
71,024
61,497
+4.0%
Cost of revenue
n/a
n/a
137
Selling, general and administrative
11,748
9,953
8,680
+18.0%
Operating income
4,418
4,001
3,620
+10.4%
Operating margin
6.0%
5.6%
5.9%
Interest expense
601
603
512
-0.3%
Pre-tax income
4,368
3,840
3,858
+13.7%
Income tax
1,808
1,206
1,207
+49.9%
Effective tax rate
41.4%
31.4%
31.3%
Net income
2,570
2,490
2,656
+3.2%
Net margin
3.5%
3.5%
4.3%
Diluted EPS
$8.99
$8.20
$8.18
+9.6%
$ 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
3,369
3,052
2,745
+10.4%
Capital expenditure
715
646
545
+10.5%
Free cash flow
2,655
2,406
2,200
+10.3%
Free cash flow margin
3.6%
3.4%
3.6%
Cash from investing
-975
-2,234
-4,552
Cash from financing
-1,822
-1,718
2,089
Depreciation and amortisation
327
353
340
-7.3%
Share-based compensation
169
146
146
+15.7%
Buybacks
2,999
1,620
2,497
+85.1%
Dividends paid
481
448
367
+7.3%
Dividend per share
$1.75
$1.50
$1.15
+16.7%
Diluted shares, weighted
286m
304m
325m
-5.9%
Shares outstanding at period end
268m
293m
305m
-8.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
24,251
24,765
23,803
-2.1%
Debt
15,044
14,492
14,978
+3.8%
Other liabilities
22,381
20,318
20,175
+10.2%
Total liabilities and equity
61,676
59,574
58,955
+3.5%
Fixed assets
1,944
1,802
1,717
+7.9%
Goodwill
17,082
16,917
16,890
+1.0%
Intangible assets
7,958
8,441
8,666
-5.7%
Investments
17,972
17,488
17,344
+2.8%
Cash and equivalents
2,152
1,582
2,475
+36.0%
Other assets
14,568
13,345
11,863
+9.2%
Total assets
61,676
59,574
58,955
+3.5%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.