Intuit (INTU) FY2014 results: revenue $4.2 billion, up 7.5% on the year
Intuit Inc. (INTU) reported revenue of $4.2 billion for fiscal 2014, the year ended 31 July 2014, up 7.5% on the year before. Net income was $907 million, up 5.7%, and diluted earnings per share $3.12. The figures are the company's own, from the 10-K it filed with the SEC on 12 September 2014.
Revenue
$4.2 billion
+7.5% on the year
FY2008FY2014
Operating margin
30.6%
30.6% a year earlier
FY2008FY2014
Net income
$907 million
+5.7% on the year
FY2008FY2014
Diluted EPS
$3.12
+10.2% 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
4,243
3,946
3,808
+7.5%
Cost of revenue
603
527
575
+14.4%
Gross profit
3,640
3,419
3,233
+6.5%
Gross margin
85.8%
86.6%
84.9%
Research and development
714
647
618
+10.4%
Operating income
1,300
1,208
1,168
+7.6%
Operating margin
30.6%
30.6%
30.7%
Interest expense
31.0
30.0
50.0
+3.3%
Pre-tax income
1,300
1,185
1,138
+9.7%
Income tax
447
378
374
+18.3%
Effective tax rate
34.4%
31.9%
32.9%
Net income
907
858
792
+5.7%
Net margin
21.4%
21.7%
20.8%
Diluted EPS
$3.12
$2.83
$2.60
+10.2%
$ 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
1,446
1,366
1,246
+5.9%
Capital expenditure
104
129
135
-19.4%
Free cash flow
1,342
1,237
1,111
+8.5%
Free cash flow margin
31.6%
31.3%
29.2%
Cash from investing
-49.0
-485
-225
Cash from financing
-1,551
-262
-1,344
Depreciation and amortisation
151
183
194
-17.5%
Share-based compensation
204
195
169
+4.6%
Buybacks
1,577
292
900
+440.1%
Dividends paid
220
203
178
+8.4%
Dividend per share
$0.76
$0.68
$0.60
+11.8%
Diluted shares, weighted
291m
303m
305m
-4.0%
Shares outstanding at period end
285m
300m
295m
-4.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,078
3,531
2,744
-12.8%
Debt
499
499
499
0.0%
Other liabilities
1,624
1,456
1,441
+11.5%
Total liabilities and equity
5,201
5,486
4,684
-5.2%
Fixed assets
589
555
543
+6.1%
Goodwill
1,323
1,100
1,286
+20.3%
Intangible assets
133
149
207
-10.7%
Investments
1,096
735
426
+49.1%
Cash and equivalents
849
1,009
393
-15.9%
Receivables
115
130
142
-11.5%
Other assets
1,096
1,808
1,687
-39.4%
Total assets
5,201
5,486
4,684
-5.2%
10-K for the year ended 31 July 2014, filed 12 September 2014: the filing.