Huntington Ingalls Industries (HII) FY2014 results: revenue $7.0 billion, up 2.0% on the year
Huntington Ingalls Industries, Inc. (HII) reported revenue of $7.0 billion for fiscal 2014, the year ended 31 December 2014, up 2.0% on the year before. Net income was $338 million, up 29.5%, and diluted earnings per share $6.86. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$7.0 billion
+2.0% on the year
FY2009FY2014
Operating margin
9.4%
7.5% a year earlier
FY2009FY2014
Net income
$338 million
+29.5% on the year
FY2009FY2014
Diluted EPS
$6.86
+32.4% 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
6,957
6,820
6,708
+2.0%
Cost of revenue
5,540
5,583
5,629
-0.8%
Gross profit
1,417
1,237
1,079
+14.6%
Gross margin
20.4%
18.1%
16.1%
Research and development
18.0
22.0
21.0
-18.2%
Operating income
655
512
358
+27.9%
Operating margin
9.4%
7.5%
5.3%
Interest expense
149
118
117
+26.3%
Pre-tax income
507
394
241
+28.7%
Income tax
169
133
95.0
+27.1%
Effective tax rate
33.3%
33.8%
39.4%
Net income
338
261
146
+29.5%
Net margin
4.9%
3.8%
2.2%
Diluted EPS
$6.86
$5.18
$2.91
+32.4%
$ 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
755
236
332
+219.9%
Capital expenditure
165
139
162
+18.7%
Free cash flow
590
97.0
170
+508.2%
Free cash flow margin
8.5%
1.4%
2.5%
Cash from investing
-437
-81.0
-162
Cash from financing
-371
-169
-28.0
Depreciation and amortisation
194
226
184
-14.2%
Share-based compensation
34.0
44.0
41.0
-22.7%
Buybacks
138
119
1.0
+16.0%
Dividends paid
49.0
25.0
5.0
+96.0%
Dividend per share
$1.00
$0.50
$0.10
+100.0%
Diluted shares, weighted
49m
50m
50m
-2.2%
Shares outstanding at period end
48m
49m
50m
-0.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,365
1,521
667
-10.3%
Debt
1,670
1,779
1,830
-6.1%
Other liabilities
3,204
2,890
3,895
+10.9%
Total liabilities and equity
6,239
6,190
6,392
+0.8%
Fixed assets
1,792
1,897
2,034
-5.5%
Goodwill
1,026
881
881
+16.5%
Intangible assets
547
528
548
+3.6%
Cash and equivalents
990
1,043
1,057
-5.1%
Receivables
1,038
1,123
905
-7.6%
Other assets
846
718
967
+17.8%
Total assets
6,239
6,190
6,392
+0.8%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.