Emerson Electric (EMR) FY2014 results: revenue $17.7 billion, down 28.1% on the year
Emerson Electric Co. (EMR) reported revenue of $17.7 billion for fiscal 2014, the year ended 30 September 2014, down 28.1% on the year before. Net income was $2.1 billion, up 7.1%, and diluted earnings per share $3.03. The figures are the company's own, from the 10-K it filed with the SEC on 19 November 2014.
Revenue
$17.7 billion
-28.1% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$2.1 billion
+7.1% on the year
FY2007FY2014
Diluted EPS
$3.03
+9.8% 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
17,733
24,669
24,412
-28.1%
Cost of revenue
9,971
14,717
14,644
-32.2%
Gross profit
7,762
9,952
9,768
-22.0%
Gross margin
43.8%
40.3%
40.0%
Research and development
356
576
547
-38.2%
Selling, general and administrative
4,164
5,648
5,436
-26.3%
Pre-tax income
3,191
3,196
3,115
-0.2%
Income tax
953
1,130
1,091
-15.7%
Effective tax rate
29.9%
35.4%
35.0%
Net income
2,147
2,004
1,968
+7.1%
Net margin
12.1%
8.1%
8.1%
Diluted EPS
$3.03
$2.76
$2.67
+9.8%
$ 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
3,692
3,649
3,053
+1.2%
Capital expenditure
651
678
665
-4.0%
Free cash flow
3,041
2,971
2,388
+2.4%
Free cash flow margin
17.1%
12.0%
9.8%
Cash from investing
-1,159
-789
-806
Cash from financing
-2,559
-1,933
-1,899
Depreciation and amortisation
569
819
823
-30.5%
Share-based compensation
123
221
100
-44.3%
Buybacks
1,048
1,110
797
-5.6%
Dividends paid
1,210
1,181
1,171
+2.5%
Dividend per share
$1.72
$1.64
$1.60
+4.9%
Diluted shares, weighted
704m
723m
735m
-2.6%
Shares outstanding at period end
697m
707m
724m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
10,119
10,585
10,295
-4.4%
Non-controlling interest
48.0
133
147
-63.9%
Debt
6,024
5,642
5,293
+6.8%
Other liabilities
7,986
8,351
8,083
-4.4%
Total liabilities and equity
24,177
24,711
23,818
-2.2%
Fixed assets
3,802
3,605
3,509
+5.5%
Goodwill
4,238
7,509
8,026
-43.6%
Intangible assets
1,689
1,672
1,838
+1.0%
Cash and equivalents
3,149
3,275
2,367
-3.8%
Receivables
5,019
4,808
4,983
+4.4%
Inventory
2,057
1,895
2,125
+8.5%
Other assets
4,223
1,947
970
+116.9%
Total assets
24,177
24,711
23,818
-2.2%
10-K for the year ended 30 September 2014, filed 19 November 2014: the filing.