Gartner (IT) FY2014 results: revenue $2.0 billion, up 13.3% on the year
Gartner Inc. (IT) reported revenue of $2.0 billion for fiscal 2014, the year ended 31 December 2014, up 13.3% on the year before. Net income was $184 million, up 0.5%, and diluted earnings per share $2.03. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$2.0 billion
+13.3% on the year
FY2008FY2014
Operating margin
14.2%
15.4% a year earlier
FY2008FY2014
Net income
$184 million
+0.5% on the year
FY2008FY2014
Diluted EPS
$2.03
+5.2% 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
2,021
1,784
1,616
+13.3%
Cost of revenue
798
713
659
+11.8%
Gross profit
1,234
1,078
964
+14.5%
Gross margin
61.1%
60.4%
59.6%
Selling, general and administrative
876
760
679
+15.2%
Operating income
286
275
246
+3.9%
Operating margin
14.2%
15.4%
15.2%
Interest expense
12.3
10.4
9.9
+18.4%
Pre-tax income
275
266
236
+3.1%
Income tax
90.9
83.6
69.7
+8.7%
Effective tax rate
33.1%
31.4%
29.6%
Net income
184
183
166
+0.5%
Net margin
9.1%
10.2%
10.3%
Diluted EPS
$2.03
$1.93
$1.73
+5.2%
$ 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
347
316
280
+9.9%
Capital expenditure
38.5
36.5
44.3
+5.4%
Free cash flow
308
279
235
+10.4%
Free cash flow margin
15.3%
15.6%
14.6%
Cash from investing
-163
-36.5
-54.7
Cash from financing
-209
-154
-72.6
Depreciation and amortisation
39.4
34.4
29.8
+14.4%
Share-based compensation
38.8
34.7
36.4
+11.8%
Buybacks
432
182
111
+137.7%
Diluted shares, weighted
91m
95m
96m
-4.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
161
361
307
-55.4%
Debt
405
205
205
+97.6%
Other liabilities
1,338
1,217
1,110
+9.9%
Total liabilities and equity
1,904
1,784
1,621
+6.8%
Fixed assets
98.0
91.8
89.1
+6.8%
Goodwill
587
519
520
+13.0%
Intangible assets
30.7
6.1
11.8
+402.5%
Cash and equivalents
365
424
300
-13.8%
Receivables
552
491
464
+12.5%
Other assets
272
252
237
+7.9%
Total assets
1,904
1,784
1,621
+6.8%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.