Expeditors International of Washington (EXPD) FY2014 results: revenue $6.6 billion, up 8.0% on the year
Expeditors International of Washington Inc. (EXPD) reported revenue of $6.6 billion for fiscal 2014, the year ended 31 December 2014, up 8.0% on the year before. Net income was $377 million, up 8.1%, and diluted earnings per share $1.92. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$6.6 billion
+8.0% on the year
FY2007FY2014
Operating margin
9.1%
9.1% a year earlier
FY2007FY2014
Net income
$377 million
+8.1% on the year
FY2007FY2014
Diluted EPS
$1.92
+14.3% 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
6,565
6,080
5,981
+8.0%
Gross profit
n/a
n/a
1,824
Gross margin
n/a
n/a
30.5%
Operating income
595
552
531
+7.7%
Operating margin
9.1%
9.1%
8.9%
Interest expense
n/a
n/a
1.3
Pre-tax income
611
573
550
+6.7%
Income tax
231
223
217
+4.0%
Effective tax rate
37.9%
38.9%
39.5%
Net income
377
349
333
+8.1%
Net margin
5.7%
5.7%
5.6%
Diluted EPS
$1.92
$1.68
$1.57
+14.3%
$ 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
395
408
370
-3.1%
Capital expenditure
37.5
53.4
47.6
-29.8%
Free cash flow
357
354
322
+1.0%
Free cash flow margin
5.4%
5.8%
5.4%
Cash from investing
-78.9
-76.8
-47.0
Cash from financing
-606
-332
-363
Depreciation and amortisation
49.3
48.1
39.9
+2.5%
Share-based compensation
42.5
43.8
44.1
-2.9%
Buybacks
551
262
302
+110.3%
Dividends paid
125
123
117
+1.1%
Dividend per share
$0.64
$0.60
$0.56
+6.7%
Diluted shares, weighted
197m
207m
212m
-4.9%
Shares outstanding at period end
192m
203m
206m
-5.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,868
2,085
2,028
-10.4%
Non-controlling interest
3.2
1.5
4.9
+106.7%
Debt
0.0
0.0
0.0
Other liabilities
999
928
922
+7.6%
Total liabilities and equity
2,871
3,015
2,954
-4.8%
Fixed assets
538
563
556
-4.4%
Goodwill
7.9
7.9
7.9
0.0%
Investments
40.3
26.3
0.1
+53.2%
Cash and equivalents
927
1,248
1,261
-25.7%
Receivables
1,236
1,074
1,031
+15.1%
Other assets
121
96.3
97.6
+25.4%
Total assets
2,871
3,015
2,954
-4.8%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.