Idex (IEX) FY2014 results: revenue $2.1 billion, up 6.1% on the year
Idex Corp. (IEX) reported revenue of $2.1 billion for fiscal 2014, the year ended 31 December 2014, up 6.1% on the year before. Net income was $279 million, up 9.5%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2015.
Revenue
$2.1 billion
+6.1% on the year
FY2008FY2014
Operating margin
20.1%
19.5% a year earlier
FY2008FY2014
Net income
$279 million
+9.5% on the year
FY2008FY2014
Diluted EPS
$3.45
+11.7% 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
2,148
2,024
1,954
+6.1%
Cost of revenue
1,198
1,151
1,151
+4.1%
Gross profit
949
873
804
+8.7%
Gross margin
44.2%
43.1%
41.1%
Research and development
36.8
33.0
36.4
+11.5%
Selling, general and administrative
504
478
444
+5.6%
Operating income
431
396
128
+9.0%
Operating margin
20.1%
19.5%
6.6%
Interest expense
41.9
42.2
42.2
-0.7%
Pre-tax income
392
353
86.2
+11.1%
Income tax
113
97.9
48.6
+15.5%
Effective tax rate
28.8%
27.7%
56.3%
Net income
279
255
37.6
+9.5%
Net margin
13.0%
12.6%
1.9%
Diluted EPS
$3.45
$3.09
$0.45
+11.7%
$ 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
368
402
326
-8.4%
Capital expenditure
48.0
31.5
35.8
+52.2%
Free cash flow
320
370
290
-13.5%
Free cash flow margin
14.9%
18.3%
14.9%
Cash from investing
-72.3
-68.2
-105
Cash from financing
-184
-219
-136
Depreciation and amortisation
76.9
79.3
78.3
-3.1%
Share-based compensation
20.7
17.0
13.1
+21.9%
Buybacks
220
168
89.6
+31.3%
Dividends paid
85.7
72.9
64.1
+17.6%
Dividend per share
$1.12
$0.89
$0.80
+25.8%
Diluted shares, weighted
81m
82m
84m
-2.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,486
1,573
1,465
-5.5%
Short-term borrowings
98.9
1.9
7.3
+5,188.4%
Debt
864
774
787
+11.6%
Other liabilities
459
532
526
-13.8%
Total liabilities and equity
2,908
2,881
2,785
+0.9%
Fixed assets
220
213
219
+2.8%
Goodwill
1,321
1,349
1,322
-2.1%
Intangible assets
271
311
341
-12.9%
Cash and equivalents
509
440
319
+15.8%
Receivables
256
253
256
+1.1%
Inventory
238
231
235
+2.9%
Other assets
93.3
83.1
93.2
+12.2%
Total assets
2,908
2,881
2,785
+0.9%
10-K for the year ended 31 December 2014, filed 23 February 2015: the filing.