Generac Holdings (GNRC) FY2014 results: revenue $1.5 billion, down 1.7% on the year
Generac Holdings Inc. (GNRC) reported revenue of $1.5 billion for fiscal 2014, the year ended 31 December 2014, down 1.7% on the year before. Net income was $175 million, unchanged, and diluted earnings per share $2.49. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$1.5 billion
-1.7% on the year
FY2009FY2014
Operating margin
20.1%
23.7% a year earlier
FY2009FY2014
Net income
$175 million
+0.0% on the year
FY2009FY2014
Diluted EPS
$2.49
-0.8% on the year
FY2009FY2014
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
1,461
1,486
1,176
-1.7%
Cost of revenue
945
916
736
+3.1%
Gross profit
516
570
440
-9.4%
Gross margin
35.3%
38.3%
37.4%
Research and development
31.5
29.3
23.5
+7.6%
Operating income
293
351
224
-16.5%
Operating margin
20.1%
23.7%
19.0%
Interest expense
47.2
54.4
49.1
-13.3%
Pre-tax income
258
279
156
-7.3%
Income tax
83.7
104
63.1
-19.6%
Effective tax rate
32.4%
37.4%
40.4%
Net income
175
175
93.2
+0.0%
Net margin
12.0%
11.7%
7.9%
Diluted EPS
$2.49
$2.51
$1.35
-0.8%
$ 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
253
260
236
-2.7%
Capital expenditure
34.7
30.8
22.4
+12.7%
Free cash flow
218
229
213
-4.7%
Free cash flow margin
14.9%
15.4%
18.1%
Cash from investing
-95.5
-145
-69.3
Cash from financing
-116
-73.4
-151
Depreciation and amortisation
34.7
36.8
54.2
-5.6%
Share-based compensation
12.6
12.4
10.8
+2.0%
Dividends paid
0.9
343
404
-99.7%
Dividend per share
$0.00
$5.00
$6.00
Diluted shares, weighted
70m
70m
69m
+0.7%
Shares outstanding at period end
n/a
n/a
68m
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
490
317
464
+54.5%
Short-term borrowings
n/a
9.6
n/a
Debt
1,088
1,197
894
-9.1%
Other liabilities
287
275
246
+4.4%
Total liabilities and equity
1,864
1,798
1,604
+3.7%
Fixed assets
169
146
105
+15.3%
Goodwill
636
608
553
+4.5%
Intangible assets
285
110
114
+159.9%
Cash and equivalents
190
150
108
+26.4%
Receivables
189
165
n/a
+14.7%
Inventory
319
300
226
+6.4%
Other assets
76.9
319
498
-75.9%
Total assets
1,864
1,798
1,604
+3.7%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.