Goodyear Tire & Rubber (GT) FY2014 results: revenue $18.1 billion, down 7.2% on the year
Goodyear Tire & Rubber Co. (GT) reported revenue of $18.1 billion for fiscal 2014, the year ended 31 December 2014, down 7.2% on the year before. Net income was $2.5 billion, up 289.8%, and diluted earnings per share $8.78. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$18.1 billion
-7.2% on the year
FY2008FY2014
Operating margin
9.4%
8.1% a year earlier
FY2008FY2014
Net income
$2.5 billion
+289.8% on the year
FY2008FY2014
Diluted EPS
$8.78
+285.1% on the year
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
18,138
19,540
20,992
-7.2%
Cost of revenue
13,906
15,422
17,163
-9.8%
Gross profit
4,232
4,118
3,829
+2.8%
Gross margin
23.3%
21.1%
18.2%
Research and development
399
390
370
+2.3%
Selling, general and administrative
2,720
2,758
2,718
-1.4%
Operating income
1,712
1,580
1,248
+8.4%
Operating margin
9.4%
8.1%
5.9%
Interest expense
444
392
357
+13.3%
Pre-tax income
687
813
440
-15.5%
Income tax
-1,834
138
203
Effective tax rate
-267.0%
17.0%
46.1%
Net income
2,452
629
212
+289.8%
Net margin
13.5%
3.2%
1.0%
Diluted EPS
$8.78
$2.28
$0.74
+285.1%
$ 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
340
938
1,038
-63.8%
Capital expenditure
923
1,168
1,127
-21.0%
Free cash flow
-583
-230
-89.0
Free cash flow margin
-3.2%
-1.2%
-0.4%
Cash from investing
-851
-1,136
-1,123
Cash from financing
-11.0
1,082
-426
Depreciation and amortisation
732
722
687
+1.4%
Share-based compensation
20.0
18.0
15.0
+11.1%
Buybacks
234
4.0
0.0
+5,750.0%
Dividends paid
60.0
12.0
0.0
+400.0%
Dividend per share
$0.22
$0.05
$0.00
+340.0%
Diluted shares, weighted
279m
277m
247m
+0.7%
Shares outstanding at period end
269m
248m
245m
+8.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,610
1,606
370
+124.8%
Non-controlling interest
235
262
255
-10.3%
Redeemable equity
582
577
n/a
+0.9%
Short-term borrowings
30.0
14.0
102
+114.3%
Debt
6,305
6,173
4,926
+2.1%
Other liabilities
7,238
8,805
11,320
-17.8%
Total liabilities and equity
18,000
17,437
16,973
+3.2%
Fixed assets
7,153
7,320
6,956
-2.3%
Goodwill
601
668
664
-10.0%
Intangible assets
138
138
140
0.0%
Cash and equivalents
2,161
2,996
2,281
-27.9%
Receivables
2,126
2,435
2,563
-12.7%
Inventory
2,671
2,816
3,250
-5.1%
Other assets
3,150
1,064
1,119
+196.1%
Total assets
18,000
17,437
16,973
+3.2%
10-K for the year ended 31 December 2014, filed 17 February 2015: the filing.