Invesco (IVZ) FY2014 results: revenue $5.1 billion, up 10.8% on the year
Invesco Ltd. (IVZ) reported revenue of $5.1 billion for fiscal 2014, the year ended 31 December 2014, up 10.8% on the year before. Net income was $988 million, up 5.1%, and diluted earnings per share $2.27. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$5.1 billion
+10.8% on the year
FY2007FY2014
Operating margin
24.8%
24.1% a year earlier
FY2007FY2014
Net income
$988 million
+5.1% on the year
FY2007FY2014
Diluted EPS
$2.27
+8.1% 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
5,147
4,645
4,050
+10.8%
Operating income
1,277
1,120
843
+14.0%
Operating margin
24.8%
24.1%
20.8%
Interest expense
73.1
44.6
52.3
+63.9%
Pre-tax income
1,395
1,255
831
+11.1%
Income tax
391
337
261
+15.9%
Effective tax rate
28.0%
26.8%
31.5%
Net income
988
940
677
+5.1%
Net margin
19.2%
20.2%
16.7%
Diluted EPS
$2.27
$2.10
$1.49
+8.1%
$ 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
1,200
780
819
+53.9%
Capital expenditure
133
88.2
99.3
+51.0%
Free cash flow
1,067
692
720
+54.2%
Free cash flow margin
20.7%
14.9%
17.8%
Cash from investing
-1,827
-240
-82.4
Cash from financing
862
-59.3
-646
Depreciation and amortisation
89.4
88.4
95.0
+1.1%
Share-based compensation
138
133
136
+3.7%
Buybacks
270
470
265
-42.7%
Dividends paid
424
380
289
+11.7%
Dividend per share
$0.97
$0.85
$0.64
+15.0%
Diluted shares, weighted
436m
448m
454m
-2.9%
Shares outstanding at period end
430m
433m
441m
-0.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,326
8,393
8,317
-0.8%
Non-controlling interest
794
585
732
+35.8%
Redeemable equity
166
0.0
n/a
Debt
1,577
1,589
1,186
-0.7%
Other liabilities
9,600
8,705
7,257
+10.3%
Total liabilities and equity
20,462
19,270
17,492
+6.2%
Fixed assets
403
351
350
+14.8%
Goodwill
6,579
6,867
7,048
-4.2%
Intangible assets
1,247
1,264
1,288
-1.3%
Investments
n/a
n/a
611
Cash and equivalents
1,514
1,331
836
+13.7%
Receivables
n/a
n/a
449
Other assets
10,720
9,458
6,911
+13.3%
Total assets
20,462
19,270
17,492
+6.2%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.