Johnson Controls International (JCI) FY2014 results: revenue $16.7 billion, up 66.2% on the year
Johnson Controls International plc (JCI) reported revenue of $16.7 billion for fiscal 2014, the year ended 30 September 2014, up 66.2% on the year before. Net income was $1.2 billion, up 126.7%, and diluted earnings per share $1.80. The figures are the company's own, from the 10-K it filed with the SEC on 23 November 2016.
Revenue
$16.7 billion
+66.2% on the year
FY2007FY2014
Operating margin
n/a
7.1% a year earlier
FY2007FY2014
Net income
$1.2 billion
+126.7% on the year
FY2007FY2014
Diluted EPS
$1.80
+57.9% 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
16,717
10,058
9,892
+66.2%
Cost of revenue
12,405
3,985
3,905
+211.3%
Gross profit
4,312
6,073
5,987
-29.0%
Gross margin
25.8%
60.4%
60.5%
Research and development
n/a
172
145
Selling, general and administrative
2,994
2,838
2,823
+5.5%
Operating income
n/a
712
578
Operating margin
n/a
7.1%
5.8%
Interest expense
238
100
209
+138.0%
Pre-tax income
1,037
599
-67.0
+73.1%
Income tax
93.0
108
320
-13.9%
Effective tax rate
9.0%
18.0%
n/a
Net income
1,215
536
472
+126.7%
Net margin
7.3%
5.3%
4.8%
Diluted EPS
$1.80
$1.14
$1.02
+57.9%
$ 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
2,395
850
2,586
+181.8%
Capital expenditure
1,199
269
295
+345.7%
Free cash flow
1,196
581
2,291
+105.9%
Free cash flow margin
7.2%
5.8%
23.2%
Cash from investing
-2,593
n/a
n/a
Cash from financing
-412
n/a
n/a
Depreciation and amortisation
955
379
379
+152.0%
Share-based compensation
82.0
63.0
140
+30.2%
Buybacks
1,249
300
500
+316.3%
Dividends paid
568
288
461
+97.2%
Dividend per share
$0.88
n/a
n/a
Diluted shares, weighted
675m
472m
463m
+43.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
11,270
5,098
4,994
+121.1%
Non-controlling interest
n/a
23.0
16.0
Redeemable equity
n/a
12.0
12.0
Debt
n/a
1,463
1,491
Other liabilities
n/a
5,580
5,852
Total liabilities and equity
n/a
12,176
12,365
Fixed assets
3,847
1,284
1,324
+199.6%
Goodwill
4,571
4,158
4,034
+9.9%
Intangible assets
n/a
791
758
Investments
n/a
243
203
Cash and equivalents
364
563
844
-35.3%
Receivables
n/a
1,704
1,679
Inventory
n/a
645
625
Other assets
24,030
2,788
2,898
+761.9%
Total assets
32,812
12,176
12,365
+169.5%
10-K for the year ended 30 September 2014, filed 23 November 2016: the filing.