Fiserv (FISV) FY2014 results: revenue $5.1 billion, up 5.2% on the year
Fiserv Inc. (FISV) reported revenue of $5.1 billion for fiscal 2014, the year ended 31 December 2014, up 5.2% on the year before. Net income was $754 million, up 16.4%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$5.1 billion
+5.2% on the year
FY2007FY2014
Operating margin
23.9%
22.0% a year earlier
FY2007FY2014
Net income
$754 million
+16.4% on the year
FY2007FY2014
Diluted EPS
$1.49
+22.1% 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
5,066
4,814
4,436
+5.2%
Cost of revenue
2,881
2,776
2,564
+3.8%
Gross profit
2,185
2,038
1,872
+7.2%
Gross margin
43.1%
42.3%
42.2%
Selling, general and administrative
975
977
824
-0.2%
Operating income
1,210
1,061
1,048
+14.0%
Operating margin
23.9%
22.0%
23.6%
Interest expense
164
163
174
+0.6%
Pre-tax income
1,047
898
881
+16.6%
Income tax
384
328
300
+17.1%
Effective tax rate
36.7%
36.5%
34.1%
Net income
754
648
611
+16.4%
Net margin
14.9%
13.5%
13.8%
Diluted EPS
$1.49
$1.22
$1.11
+22.1%
$ 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
n/a
1,028
865
Capital expenditure
292
236
193
+23.7%
Free cash flow
n/a
792
672
Free cash flow margin
n/a
16.5%
15.1%
Depreciation and amortisation
404
403
350
+0.2%
Share-based compensation
49.0
46.0
44.0
+6.5%
Buybacks
1,148
578
634
+98.6%
Diluted shares, weighted
505m
532m
550m
-5.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,295
3,585
3,417
-8.1%
Debt
3,790
3,848
3,230
-1.5%
Other liabilities
2,223
2,033
1,850
+9.3%
Total liabilities and equity
9,308
9,466
8,497
-1.7%
Fixed assets
317
266
248
+19.2%
Goodwill
5,209
5,216
4,705
-0.1%
Intangible assets
2,003
2,142
1,744
-6.5%
Cash and equivalents
n/a
400
358
Receivables
798
751
661
+6.3%
Other assets
981
691
781
+42.0%
Total assets
9,308
9,466
8,497
-1.7%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.