Globus Medical (GMED) FY2014 results: revenue $474 million, up 9.2% on the year
Globus Medical Inc. (GMED) reported revenue of $474 million for fiscal 2014, the year ended 31 December 2014, up 9.2% on the year before. Net income was $92 million, up 34.8%, and diluted earnings per share $0.97. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$474 million
+9.2% on the year
FY2010FY2014
Operating margin
29.2%
23.4% a year earlier
FY2010FY2014
Net income
$92 million
+34.8% on the year
FY2010FY2014
Diluted EPS
$0.97
+32.9% on the year
FY2010FY2014
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
474
434
386
+9.2%
Cost of revenue
111
100
75.2
+10.5%
Gross profit
364
334
311
+8.8%
Gross margin
76.6%
76.9%
80.5%
Research and development
31.2
26.9
27.9
+16.0%
Selling, general and administrative
189
183
169
+3.3%
Operating income
138
102
115
+36.1%
Operating margin
29.2%
23.4%
29.7%
Pre-tax income
139
102
115
+35.9%
Income tax
46.2
33.4
40.8
+38.2%
Effective tax rate
33.3%
32.7%
35.6%
Net income
92.5
68.6
73.8
+34.8%
Net margin
19.5%
15.8%
19.1%
Diluted EPS
$0.97
$0.73
$0.80
+32.9%
$ 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
79.2
93.5
76.5
-15.3%
Capital expenditure
24.8
23.7
24.7
+4.5%
Free cash flow
54.4
69.8
51.8
-22.0%
Free cash flow margin
11.5%
16.1%
13.4%
Cash from investing
-100
-227
-30.7
Cash from financing
12.9
11.0
24.0
+17.6%
Depreciation and amortisation
21.8
19.4
18.1
+12.2%
Share-based compensation
7.1
5.2
4.6
+37.4%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
95m
94m
92m
+1.3%
Shares outstanding at period end
95m
93m
91m
+1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
585
472
387
+23.9%
Debt
0.0
0.0
0.0
Other liabilities
118
93.9
60.6
+25.7%
Total liabilities and equity
704
566
447
+24.2%
Fixed assets
69.5
64.2
61.1
+8.3%
Goodwill
53.2
18.4
15.4
+189.5%
Intangible assets
34.5
29.5
9.6
+16.9%
Investments
222
185
0.0
+19.6%
Cash and equivalents
82.3
90.0
212
-8.6%
Receivables
75.4
62.4
53.5
+20.9%
Inventory
90.9
70.3
62.3
+29.3%
Other assets
75.9
46.0
32.9
+64.9%
Total assets
704
566
447
+24.2%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.