Labcorp Holdings (LH) FY2014 results: revenue $6.0 billion, up 3.5% on the year
Labcorp Holdings Inc. (LH) reported revenue of $6.0 billion for fiscal 2014, the year ended 31 December 2014, up 3.5% on the year before. Net income was $511 million, down 10.9%, and diluted earnings per share $5.91. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$6.0 billion
+3.5% on the year
FY2007FY2014
Operating margin
15.1%
17.1% a year earlier
FY2007FY2014
Net income
$511 million
-10.9% on the year
FY2007FY2014
Diluted EPS
$5.91
-5.4% 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
6,012
5,808
5,671
+3.5%
Cost of revenue
3,808
3,585
3,422
+6.2%
Gross profit
2,203
2,223
2,250
-0.9%
Gross margin
36.6%
38.3%
39.7%
Selling, general and administrative
1,198
1,129
1,115
+6.1%
Operating income
910
991
1,024
-8.1%
Operating margin
15.1%
17.1%
18.0%
Interest expense
110
96.5
94.5
+13.5%
Income tax
314
340
359
-7.7%
Net income
511
574
583
-10.9%
Net margin
8.5%
9.9%
10.3%
Diluted EPS
$5.91
$6.25
$5.99
-5.4%
$ 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
739
819
841
-9.7%
Capital expenditure
204
202
174
+0.6%
Free cash flow
536
616
668
-13.1%
Free cash flow margin
8.9%
10.6%
11.8%
Cash from investing
-350
-360
-534
Cash from financing
-201
-518
-0.8
Depreciation and amortisation
246
230
230
+6.7%
Share-based compensation
45.7
37.3
40.7
+22.5%
Buybacks
269
1,016
516
-73.5%
Diluted shares, weighted
86m
92m
97m
-5.9%
Shares outstanding at period end
85m
86m
94m
-1.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,820
2,491
4,945
+13.2%
Debt
3,030
2,986
2,655
+1.5%
Other liabilities
1,452
1,489
n/a
-2.5%
Total liabilities and equity
7,302
6,966
6,795
+4.8%
Fixed assets
786
707
631
+11.2%
Goodwill
3,099
3,023
2,902
+2.5%
Intangible assets
1,476
1,572
1,668
-6.1%
Cash and equivalents
580
404
404
+43.6%
Receivables
816
785
718
+4.0%
Inventory
140
136
121
+2.2%
Other assets
405
338
351
+19.6%
Total assets
7,302
6,966
6,795
+4.8%
10-K for the year ended 31 December 2014, filed 29 February 2016: the filing.