Freeport-McMoRan (FCX) FY2014 results: revenue $20.0 billion, up 3.5% on the year
Freeport-McMoRan Inc. (FCX) reported revenue of $20.0 billion for fiscal 2014, the year ended 31 December 2014, up 3.5% on the year before. Net income was -$1.3 billion, and diluted earnings per share $-1.26. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$20.0 billion
+3.5% on the year
FY2011FY2014
Operating margin
-1.5%
24.9% a year earlier
FY2011FY2014
Net income
-$1.3 billion
FY2011FY2014
Diluted EPS
-$1.26
FY2011FY2014
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
20,001
19,331
18,010
+3.5%
Cost of revenue
18,494
13,632
11,561
+35.7%
Gross profit
1,507
5,699
6,449
-73.6%
Gross margin
7.5%
29.5%
35.8%
Selling, general and administrative
580
645
431
-10.1%
Operating income
-298
4,820
5,814
Operating margin
-1.5%
24.9%
32.3%
Pre-tax income
-800
4,390
5,487
Income tax
225
1,340
1,510
-83.2%
Effective tax rate
n/a
30.5%
27.5%
Net income
-1,308
2,658
3,041
Net margin
-6.5%
13.7%
16.9%
Diluted EPS
-$1.26
$2.64
$3.19
$ 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
5,631
6,139
3,774
-8.3%
Capital expenditure
7,215
5,286
3,494
+36.5%
Free cash flow
-1,584
853
280
Free cash flow margin
-7.9%
4.4%
1.6%
Cash from investing
-3,801
-10,908
-3,463
Cash from financing
-3,351
3,049
-1,428
Depreciation and amortisation
3,863
2,797
n/a
+38.1%
Share-based compensation
106
173
100
-38.7%
Dividends paid
1,305
2,281
1,129
-42.8%
Dividend per share
$1.25
$2.25
$1.25
-44.4%
Diluted shares, weighted
1,039m
1,006m
954m
+3.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
18,287
20,934
17,543
-12.6%
Non-controlling interest
4,187
4,297
3,768
-2.6%
Redeemable equity
751
716
n/a
+4.9%
Debt
18,849
20,706
3,525
-9.0%
Other liabilities
16,600
16,820
10,604
-1.3%
Total liabilities and equity
58,674
63,473
35,440
-7.6%
Fixed assets
22,927
24,042
20,999
-4.6%
Goodwill
0.0
1,916
0.0
Intangible assets
334
380
334
-12.1%
Investments
46.0
44.0
46.0
+4.5%
Cash and equivalents
298
1,864
3,569
-84.0%
Receivables
940
1,728
927
-45.6%
Inventory
n/a
5,018
n/a
Other assets
34,129
28,481
9,565
+19.8%
Total assets
58,674
63,473
35,440
-7.6%
10-K for the year ended 31 December 2014, filed 24 February 2017: the filing.