Hasbro (HAS) FY2014 results: revenue $4.3 billion, up 4.8% on the year
Hasbro, Inc. (HAS) reported revenue of $4.3 billion for fiscal 2014, the year ended 28 December 2014, up 4.8% on the year before. Net income was $416 million, up 45.3%, and diluted earnings per share $3.20. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$4.3 billion
+4.8% on the year
FY2008FY2014
Operating margin
14.9%
11.4% a year earlier
FY2008FY2014
Net income
$416 million
+45.3% on the year
FY2008FY2014
Diluted EPS
$3.20
+47.5% 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
4,277
4,082
4,089
+4.8%
Cost of revenue
1,698
1,673
1,672
+1.5%
Gross profit
2,579
2,409
2,417
+7.0%
Gross margin
60.3%
59.0%
59.1%
Research and development
223
208
201
+7.2%
Selling, general and administrative
896
872
847
+2.7%
Operating income
635
467
552
+36.0%
Operating margin
14.9%
11.4%
13.5%
Interest expense
93.1
-106
-91.1
Pre-tax income
540
352
453
+53.5%
Income tax
127
67.9
117
+86.6%
Effective tax rate
23.5%
19.3%
25.9%
Net income
416
286
336
+45.3%
Net margin
9.7%
7.0%
8.2%
Diluted EPS
$3.20
$2.17
$2.55
+47.5%
$ 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
454
401
535
+13.3%
Capital expenditure
113
112
112
+1.2%
Free cash flow
341
289
423
+18.0%
Free cash flow margin
8.0%
7.1%
10.3%
Cash from investing
-0.5
-218
-106
Cash from financing
-231
-341
-219
Depreciation and amortisation
158
181
150
-12.7%
Share-based compensation
36.2
21.3
19.4
+70.0%
Buybacks
460
103
98.0
+344.1%
Dividends paid
217
156
225
+38.9%
Dividend per share
$1.72
$1.60
$1.44
+7.5%
Diluted shares, weighted
130m
132m
132m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,466
1,682
1,507
-12.9%
Debt
1,798
1,397
1,621
+28.8%
Other liabilities
1,254
1,314
1,197
-4.6%
Total liabilities and equity
4,518
4,393
4,325
+2.8%
Fixed assets
237
236
230
+0.5%
Goodwill
593
594
475
-0.1%
Intangible assets
325
376
417
-13.7%
Cash and equivalents
893
682
850
+30.9%
Receivables
1,095
1,094
1,030
+0.1%
Inventory
340
349
316
-2.6%
Other assets
1,035
1,062
1,008
-2.5%
Total assets
4,518
4,393
4,325
+2.8%
10-K for the year ended 28 December 2014, filed 26 February 2015: the filing.