Horace Mann Educators (HMN) FY2014 results: revenue $1.1 billion, up 2.9% on the year
Horace Mann Educators Corp. (HMN) reported revenue of $1.1 billion for fiscal 2014, the year ended 31 December 2014, up 2.9% on the year before. Net income was $104 million, down 6.0%, and diluted earnings per share $2.47. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$1.1 billion
+2.9% on the year
FY2009FY2014
Operating margin
13.8%
14.9% a year earlier
FY2009FY2014
Net income
$104 million
-6.0% on the year
FY2009FY2014
Diluted EPS
$2.47
-7.1% 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
1,061
1,031
1,011
+2.9%
Operating income
146
154
149
-5.2%
Operating margin
13.8%
14.9%
14.8%
Interest expense
14.2
14.2
14.2
-0.3%
Pre-tax income
146
154
149
-5.2%
Income tax
41.9
43.2
45.3
-3.0%
Effective tax rate
28.7%
28.0%
30.4%
Net income
104
111
104
-6.0%
Net margin
9.8%
10.8%
10.3%
Diluted EPS
$2.47
$2.66
$2.51
-7.1%
$ 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
222
206
203
+7.8%
Cash from investing
-566
-598
-355
Cash from financing
337
395
160
-14.8%
Depreciation and amortisation
8.0
7.7
7.9
+3.6%
Share-based compensation
1.3
1.4
2.5
-10.5%
Dividends paid
39.2
32.5
22.5
+20.5%
Dividend per share
$0.92
$0.78
$0.55
+17.9%
Diluted shares, weighted
42m
42m
41m
+1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,336
1,099
1,246
+21.6%
Debt
200
200
200
+0.0%
Other liabilities
8,232
7,527
6,722
+9.4%
Total liabilities and equity
9,769
8,827
8,168
+10.7%
Fixed assets
31.0
34.9
37.0
-11.2%
Goodwill
47.4
47.4
47.4
0.0%
Securities held for sale or to maturity
6,893
6,010
5,962
+14.7%
Cash and equivalents
11.7
18.2
15.2
-35.8%
Other assets
2,785
2,717
2,106
+2.5%
Total assets
9,769
8,827
8,168
+10.7%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.