Equinix (EQIX) FY2014 results: revenue $2.4 billion, up 13.5% on the year
Equinix Inc. (EQIX) reported revenue of $2.4 billion for fiscal 2014, the year ended 31 December 2014, up 13.5% on the year before. Net income was -$260 million, and diluted earnings per share $-4.96. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$2.4 billion
+13.5% on the year
FY2008FY2014
Operating margin
20.8%
21.4% a year earlier
FY2008FY2014
Net income
-$260 million
FY2008FY2014
Diluted EPS
-$4.96
FY2008FY2014
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
2,444
2,153
1,887
+13.5%
Cost of revenue
1,198
1,064
944
+12.5%
Gross profit
1,246
1,088
943
+14.5%
Gross margin
51.0%
50.6%
50.0%
Operating income
509
461
393
+10.5%
Operating margin
20.8%
21.4%
20.8%
Interest expense
271
249
200
+8.7%
Pre-tax income
84.7
112
189
-24.5%
Income tax
345
16.2
58.6
+2,038.3%
Effective tax rate
407.7%
14.4%
31.0%
Net income
-260
94.7
140
Net margin
-10.6%
4.4%
7.4%
Diluted EPS
-$4.96
$1.89
$2.83
$ 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
709
605
632
+17.3%
Capital expenditure
660
572
1,099
+15.3%
Free cash flow
48.8
32.2
-467
+51.5%
Free cash flow margin
2.0%
1.5%
-24.7%
Cash from investing
-437
-1,169
-443
Cash from financing
87.8
575
-223
-84.7%
Depreciation and amortisation
482
433
391
+11.3%
Share-based compensation
118
103
83.0
+14.6%
Buybacks
298
48.8
13.4
+510.6%
Dividends paid
83.3
n/a
n/a
Diluted shares, weighted
52m
50m
52m
+4.5%
Shares outstanding at period end
56m
50m
49m
+13.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,270
2,459
2,313
-7.7%
Debt
3,504
3,273
2,450
+7.0%
Other liabilities
2,008
1,760
1,370
+14.1%
Total liabilities and equity
7,782
7,492
6,133
+3.9%
Fixed assets
4,998
4,592
3,919
+8.9%
Goodwill
1,002
1,042
1,043
-3.8%
Intangible assets
148
184
202
-19.9%
Investments
530
768
294
-31.0%
Cash and equivalents
611
262
252
+133.3%
Receivables
263
185
164
+42.1%
Other assets
231
459
259
-49.8%
Total assets
7,782
7,492
6,133
+3.9%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.