Intel (INTC) FY2014 results: revenue $55.9 billion, up 6.0% on the year
Intel Corp. (INTC) reported revenue of $55.9 billion for fiscal 2014, the year ended 27 December 2014, up 6.0% on the year before. Net income was $11.7 billion, up 21.7%, and diluted earnings per share $2.31. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$55.9 billion
+6.0% on the year
FY2007FY2014
Operating margin
27.5%
23.3% a year earlier
FY2007FY2014
Net income
$11.7 billion
+21.7% on the year
FY2007FY2014
Diluted EPS
$2.31
+22.2% on the year
FY2007FY2014
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
55,870
52,708
53,341
+6.0%
Cost of revenue
20,261
21,187
20,190
-4.4%
Gross profit
35,609
31,521
33,151
+13.0%
Gross margin
63.7%
59.8%
62.1%
Research and development
11,537
10,611
10,148
+8.7%
Selling, general and administrative
8,136
8,088
8,057
+0.6%
Operating income
15,347
12,291
14,638
+24.9%
Operating margin
27.5%
23.3%
27.4%
Interest expense
192
244
90.0
-21.3%
Pre-tax income
15,801
12,611
14,873
+25.3%
Income tax
4,097
2,991
3,868
+37.0%
Effective tax rate
25.9%
23.7%
26.0%
Net income
11,704
9,620
11,005
+21.7%
Net margin
20.9%
18.3%
20.6%
Diluted EPS
$2.31
$1.89
$2.13
+22.2%
$ 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
20,418
20,776
18,884
-1.7%
Capital expenditure
10,105
10,711
11,027
-5.7%
Free cash flow
10,313
10,065
7,857
+2.5%
Free cash flow margin
18.5%
19.1%
14.7%
Cash from investing
n/a
n/a
-14,060
Cash from financing
n/a
n/a
-1,408
Depreciation and amortisation
8,549
8,032
7,522
+6.4%
Share-based compensation
1,148
1,118
1,102
+2.7%
Buybacks
10,792
2,147
4,765
+402.7%
Dividends paid
4,409
4,479
4,350
-1.6%
Dividend per share
n/a
n/a
$0.87
Diluted shares, weighted
5,056m
5,097m
5,160m
-0.8%
Shares outstanding at period end
4,748m
4,967m
4,944m
-4.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
55,865
58,256
51,203
-4.1%
Redeemable equity
912
0.0
n/a
Debt
13,655
13,446
13,448
+1.6%
Other liabilities
21,524
20,656
19,700
+4.2%
Total liabilities and equity
91,956
92,358
84,351
-0.4%
Fixed assets
33,238
31,428
27,983
+5.8%
Goodwill
10,861
10,513
9,710
+3.3%
Intangible assets
4,446
5,150
6,235
-13.7%
Investments
4,453
7,445
4,492
-40.2%
Trading assets
9,063
8,441
n/a
+7.4%
Cash and equivalents
2,561
5,674
8,478
-54.9%
Receivables
4,427
3,582
3,833
+23.6%
Inventory
4,273
4,172
4,734
+2.4%
Other assets
18,634
15,953
18,886
+16.8%
Total assets
91,956
92,358
84,351
-0.4%
10-K for the year ended 27 December 2014, filed 13 February 2015: the filing.