Johnson & Johnson (JNJ) FY2014 results: revenue $74.3 billion, up 4.2% on the year
Johnson & Johnson (JNJ) reported revenue of $74.3 billion for fiscal 2014, the year ended 28 December 2014, up 4.2% on the year before. Net income was $16.3 billion, up 18.0%, and diluted earnings per share $5.70. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$74.3 billion
+4.2% on the year
FY2007FY2014
Operating margin
29.0%
23.0% a year earlier
FY2007FY2014
Net income
$16.3 billion
+18.0% on the year
FY2007FY2014
Diluted EPS
$5.70
+18.5% 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
74,331
71,312
67,224
+4.2%
Cost of revenue
22,746
22,342
21,658
+1.8%
Gross profit
51,585
48,970
45,566
+5.3%
Gross margin
69.4%
68.7%
67.8%
Research and development
8,494
8,183
7,665
+3.8%
Selling, general and administrative
21,954
21,830
20,869
+0.6%
Operating income
21,590
16,412
14,955
+31.6%
Operating margin
29.0%
23.0%
22.2%
Interest expense
533
482
532
+10.6%
Pre-tax income
20,563
15,471
13,775
+32.9%
Income tax
4,240
1,640
3,261
+158.5%
Effective tax rate
20.6%
10.6%
23.7%
Net income
16,323
13,831
10,853
+18.0%
Net margin
22.0%
19.4%
16.1%
Diluted EPS
$5.70
$4.81
$3.86
+18.5%
$ 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
18,710
17,414
15,396
+7.4%
Capital expenditure
3,714
3,595
2,934
+3.3%
Free cash flow
14,996
13,819
12,462
+8.5%
Free cash flow margin
20.2%
19.4%
18.5%
Cash from investing
-12,305
-5,103
-4,510
Cash from financing
-12,499
-6,091
-20,562
Depreciation and amortisation
3,895
4,104
3,666
-5.1%
Share-based compensation
792
728
662
+8.8%
Buybacks
7,124
3,538
12,919
+101.4%
Dividends paid
7,768
7,286
6,614
+6.6%
Dividend per share
$2.76
$2.59
$2.40
+6.6%
Diluted shares, weighted
2,864m
2,877m
2,813m
-0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
69,752
74,053
64,826
-5.8%
Debt
18,760
18,180
16,165
+3.2%
Other liabilities
41,846
40,450
40,356
+3.5%
Total liabilities and equity
130,358
132,683
121,347
-1.8%
Fixed assets
16,126
16,710
16,097
-3.5%
Goodwill
21,832
22,798
22,424
-4.2%
Intangible assets
27,222
27,947
28,752
-2.6%
Investments
18,566
8,279
6,178
+124.3%
Cash and equivalents
14,523
20,927
14,911
-30.6%
Receivables
10,985
11,713
11,309
-6.2%
Inventory
8,184
7,878
7,495
+3.9%
Other assets
12,920
16,431
14,181
-21.4%
Total assets
130,358
132,683
121,347
-1.8%
10-K for the year ended 28 December 2014, filed 24 February 2015: the filing.