Expedia Group (EXPE) FY2014 results: revenue $5.8 billion, up 20.8% on the year
Expedia Group, Inc. (EXPE) reported revenue of $5.8 billion for fiscal 2014, the year ended 31 December 2014, up 20.8% on the year before. Net income was $398 million, up 71.0%, and diluted earnings per share $2.99. The figures are the company's own, from the 10-K it filed with the SEC on 6 February 2015.
Revenue
$5.8 billion
+20.8% on the year
FY2008FY2014
Operating margin
9.0%
7.7% a year earlier
FY2008FY2014
Net income
$398 million
+71.0% on the year
FY2008FY2014
Diluted EPS
$2.99
+79.0% 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
5,763
4,771
4,030
+20.8%
Cost of revenue
1,179
1,038
899
+13.6%
Gross profit
4,584
3,733
3,132
+22.8%
Gross margin
79.5%
78.2%
77.7%
Operating income
518
366
432
+41.4%
Operating margin
9.0%
7.7%
10.7%
Interest expense
98.1
87.4
87.8
+12.3%
Pre-tax income
465
301
350
+54.5%
Income tax
91.7
84.3
47.1
+8.7%
Effective tax rate
19.7%
28.0%
13.4%
Net income
398
233
280
+71.0%
Net margin
6.9%
4.9%
7.0%
Diluted EPS
$2.99
$1.67
$2.00
+79.0%
$ 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
1,367
763
1,237
+79.1%
Capital expenditure
328
309
236
+6.4%
Free cash flow
1,039
455
1,001
+128.4%
Free cash flow margin
18.0%
9.5%
24.8%
Cash from investing
-924
n/a
n/a
Cash from financing
48.1
n/a
n/a
Depreciation and amortisation
343
283
196
+20.9%
Share-based compensation
85.0
130
64.6
-34.7%
Buybacks
538
523
418
+2.9%
Dividends paid
84.7
75.8
130
+11.8%
Dividend per share
$0.66
$0.56
$0.96
+17.9%
Diluted shares, weighted
133m
140m
140m
-4.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,784
2,145
2,280
-16.8%
Non-controlling interest
109
114
109
-3.6%
Redeemable equity
560
365
13.5
+53.5%
Debt
1,747
1,249
1,249
+39.8%
Other liabilities
4,820
3,866
3,481
+24.7%
Total liabilities and equity
9,021
7,739
7,133
+16.6%
Fixed assets
553
481
409
+15.1%
Goodwill
3,956
3,664
3,016
+8.0%
Intangible assets
1,290
1,111
821
+16.1%
Investments
456
459
771
-0.6%
Cash and equivalents
1,403
1,021
1,293
+37.4%
Receivables
778
615
462
+26.6%
Other assets
585
390
361
+50.0%
Total assets
9,021
7,739
7,133
+16.6%
10-K for the year ended 31 December 2014, filed 6 February 2015: the filing.