Kimberly Clark (KMB) FY2014 results: revenue $19.7 billion, up 0.8% on the year
Kimberly Clark Corp. (KMB) reported revenue of $19.7 billion for fiscal 2014, the year ended 31 December 2014, up 0.8% on the year before. Net income was $1.5 billion, down 28.8%, and diluted earnings per share $4.04. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2015.
Revenue
$19.7 billion
+0.8% on the year
FY2007FY2014
Operating margin
12.8%
14.8% a year earlier
FY2007FY2014
Net income
$1.5 billion
-28.8% on the year
FY2007FY2014
Diluted EPS
$4.04
-26.9% 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
19,724
19,561
19,467
+0.8%
Cost of revenue
13,041
12,952
13,338
+0.7%
Gross profit
6,683
6,609
6,129
+1.1%
Gross margin
33.9%
33.8%
31.5%
Research and development
368
333
335
+10.5%
Operating income
2,521
2,903
2,377
-13.2%
Operating margin
12.8%
14.8%
12.2%
Interest expense
284
282
285
+0.7%
Pre-tax income
2,255
2,641
2,110
-14.6%
Income tax
856
828
660
+3.4%
Effective tax rate
38.0%
31.4%
31.3%
Net income
1,526
2,142
1,750
-28.8%
Net margin
7.7%
11.0%
9.0%
Diluted EPS
$4.04
$5.53
$4.42
-26.9%
$ 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
2,845
3,040
3,288
-6.4%
Capital expenditure
1,039
953
1,093
+9.0%
Free cash flow
1,806
2,087
2,195
-13.5%
Free cash flow margin
9.2%
10.7%
11.3%
Cash from investing
n/a
n/a
-1,184
Cash from financing
n/a
n/a
-1,802
Depreciation and amortisation
862
863
857
-0.1%
Share-based compensation
52.0
92.0
67.0
-43.5%
Buybacks
1,939
1,216
1,284
+59.5%
Dividends paid
1,256
1,223
1,151
+2.7%
Dividend per share
$3.36
$3.24
$2.96
+3.7%
Diluted shares, weighted
377m
387m
396m
-2.6%
Shares outstanding at period end
365m
381m
389m
-4.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
729
4,856
4,985
-85.0%
Non-controlling interest
270
284
302
-4.9%
Debt
6,956
5,761
6,185
+20.7%
Other liabilities
7,571
8,018
8,401
-5.6%
Total liabilities and equity
15,526
18,919
19,873
-17.9%
Fixed assets
7,359
7,948
8,095
-7.4%
Goodwill
1,628
3,181
3,337
-48.8%
Intangible assets
109
243
246
-55.1%
Cash and equivalents
789
1,054
1,106
-25.1%
Receivables
2,223
2,545
2,642
-12.7%
Inventory
1,892
2,233
2,348
-15.3%
Other assets
1,526
1,715
2,099
-11.0%
Total assets
15,526
18,919
19,873
-17.9%
10-K for the year ended 31 December 2014, filed 18 February 2015: the filing.