Jabil (JBL) FY2014 results: revenue $15.8 billion, down 8.6% on the year
Jabil Inc. (JBL) reported revenue of $15.8 billion for fiscal 2014, the year ended 31 August 2014, down 8.6% on the year before. Net income was $241 million, down 35.0%, and diluted earnings per share $1.19. The figures are the company's own, from the 10-K it filed with the SEC on 21 October 2014.
Revenue
$15.8 billion
-8.6% on the year
FY2009FY2014
Operating margin
1.3%
2.6% a year earlier
FY2009FY2014
Net income
$241 million
-35.0% on the year
FY2009FY2014
Diluted EPS
$1.19
-33.5% on the year
FY2009FY2014
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
15,762
17,249
16,141
-8.6%
Cost of revenue
14,737
16,037
14,980
-8.1%
Gross profit
1,026
1,212
1,161
-15.4%
Gross margin
6.5%
7.0%
7.2%
Research and development
28.6
28.5
25.8
+0.5%
Selling, general and administrative
676
614
573
+10.0%
Operating income
204
452
550
-54.9%
Operating margin
1.3%
2.6%
3.4%
Interest expense
128
121
106
+5.8%
Pre-tax income
72.1
327
437
-78.0%
Income tax
73.7
7.6
103
+865.9%
Effective tax rate
102.2%
2.3%
23.6%
Net income
241
371
395
-35.0%
Net margin
1.5%
2.2%
2.4%
Diluted EPS
$1.19
$1.79
$1.87
-33.5%
$ 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
499
1,214
634
-58.9%
Capital expenditure
624
737
498
-15.3%
Free cash flow
-125
477
137
Free cash flow margin
-0.8%
2.8%
0.8%
Cash from investing
60.7
-1,374
-606
Cash from financing
-577
-23.0
317
Depreciation and amortisation
487
418
353
+16.5%
Share-based compensation
10.6
68.4
81.4
-84.5%
Buybacks
260
129
71.0
+101.4%
Dividends paid
68.2
67.2
65.2
+1.5%
Dividend per share
$0.32
$0.32
$0.32
0.0%
Diluted shares, weighted
202m
208m
211m
-2.6%
Shares outstanding at period end
194m
203m
206m
-4.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,242
2,335
2,105
-4.0%
Non-controlling interest
18.5
20.3
2.3
-8.6%
Debt
1,683
1,906
1,676
-11.7%
Other liabilities
4,537
4,892
4,019
-7.3%
Total liabilities and equity
8,480
9,154
7,803
-7.4%
Fixed assets
2,272
2,309
1,779
-1.6%
Goodwill
384
349
95.0
+9.9%
Intangible assets
244
260
119
-6.3%
Cash and equivalents
1,000
1,011
1,217
-1.1%
Inventory
2,008
2,119
2,269
-5.2%
Other assets
2,572
3,105
2,324
-17.2%
Total assets
8,480
9,154
7,803
-7.4%
10-K for the year ended 31 August 2014, filed 21 October 2014: the filing.