Exelon (EXC) FY2014 results: revenue $27.4 billion, up 10.2% on the year
Exelon Corp. (EXC) reported revenue of $27.4 billion for fiscal 2014, the year ended 31 December 2014, up 10.2% on the year before. Net income was $1.6 billion, down 5.6%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$27.4 billion
+10.2% on the year
FY2008FY2014
Operating margin
11.3%
14.7% a year earlier
FY2008FY2014
Net income
$1.6 billion
-5.6% on the year
FY2008FY2014
Diluted EPS
$1.88
-6.0% on the year
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
27,429
24,888
23,489
+10.2%
Operating income
3,096
3,669
2,373
-15.6%
Operating margin
11.3%
14.7%
10.1%
Interest expense
1,024
1,315
891
-22.1%
Pre-tax income
2,486
2,773
1,798
-10.3%
Income tax
666
1,044
627
-36.2%
Effective tax rate
26.8%
37.6%
34.9%
Net income
1,623
1,719
1,171
-5.6%
Net margin
5.9%
6.9%
5.0%
Diluted EPS
$1.88
$2.00
$1.42
-6.0%
$ 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
4,457
6,343
6,131
-29.7%
Capital expenditure
6,077
5,395
5,789
+12.6%
Free cash flow
-1,620
948
342
Free cash flow margin
-5.9%
3.8%
1.5%
Cash from investing
-4,599
-5,394
-4,576
Cash from financing
411
-826
-1,085
Depreciation and amortisation
2,314
2,153
1,881
+7.5%
Share-based compensation
91.0
120
94.0
-24.2%
Buybacks
n/a
n/a
0.0
Dividends paid
1,065
1,249
1,716
-14.7%
Dividend per share
$1.24
$1.46
$2.10
-15.1%
Diluted shares, weighted
864m
860m
819m
+0.5%
Shares outstanding at period end
860m
857m
855m
+0.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
22,608
22,732
21,431
-0.5%
Non-controlling interest
1,332
15.0
106
+8,780.0%
Short-term borrowings
n/a
341
0.0
Debt
21,624
19,408
18,945
+11.4%
Other liabilities
40,852
37,428
38,072
+9.1%
Total liabilities and equity
86,416
79,924
78,554
+8.1%
Fixed assets
52,087
47,330
45,186
+10.1%
Goodwill
2,672
2,625
2,625
+1.8%
Intangible assets
738
417
444
+77.0%
Investments
544
1,187
1,184
-54.2%
Cash and equivalents
1,878
1,609
1,486
+16.7%
Receivables
3,482
2,981
2,795
+16.8%
Other assets
25,015
23,775
24,834
+5.2%
Total assets
86,416
79,924
78,554
+8.1%
10-K for the year ended 31 December 2014, filed 13 February 2015: the filing.