Fidelity National Financial (FNF) FY2014 results: revenue $8.0 billion, up 7.8% on the year
Fidelity National Financial, Inc. (FNF) reported revenue of $8.0 billion for fiscal 2014, the year ended 31 December 2014, up 7.8% on the year before. Net income was $583 million, up 48.0%. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$8.0 billion
+7.8% on the year
FY2008FY2014
Operating margin
4.9%
8.3% a year earlier
FY2008FY2014
Net income
$583 million
+48.0% on the year
FY2008FY2014
Diluted EPS
n/a
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
8,024
7,440
6,668
+7.8%
Operating income
392
616
746
-36.4%
Operating margin
4.9%
8.3%
11.2%
Interest expense
127
73.0
64.0
+74.0%
Pre-tax income
392
616
746
-36.4%
Income tax
312
195
242
+60.0%
Effective tax rate
79.6%
31.7%
32.4%
Net income
583
394
606
+48.0%
Net margin
7.3%
5.3%
9.1%
Diluted EPS
n/a
$1.71
$2.68
$ 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
594
484
620
+22.7%
Capital expenditure
210
145
79.0
+44.8%
Free cash flow
384
339
541
+13.3%
Free cash flow margin
4.8%
4.6%
8.1%
Cash from investing
-2,720
-60.0
-310
Cash from financing
1,060
340
52.0
+211.8%
Depreciation and amortisation
476
209
103
+127.8%
Share-based compensation
51.0
35.0
27.0
+45.7%
Buybacks
2.0
34.0
38.0
-94.1%
Dividends paid
203
153
128
+32.7%
Dividend per share
n/a
$0.66
$0.58
Diluted shares, weighted
138m
235m
226m
-41.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,994
5,068
4,268
+18.3%
Non-controlling interest
79.0
474
481
-83.3%
Redeemable equity
715
0.0
0.0
Deposits
622
588
528
+5.8%
Debt
2,803
1,323
1,344
+111.9%
Other liabilities
3,655
3,071
3,281
+19.0%
Total liabilities and equity
13,868
10,524
9,903
+31.8%
Fixed assets
635
645
628
-1.6%
Goodwill
4,721
1,901
1,908
+148.3%
Intangible assets
1,133
619
650
+83.0%
Securities held for sale or to maturity
3,025
2,959
3,140
+2.2%
Cash and equivalents
700
1,969
1,132
-64.4%
Other assets
3,654
2,431
2,444
+50.3%
Total assets
13,868
10,524
9,903
+31.8%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.