Eli Lilly (LLY) FY2014 results: revenue $19.6 billion, down 15.1% on the year
Eli Lilly & Co. (LLY) reported revenue of $19.6 billion for fiscal 2014, the year ended 31 December 2014, down 15.1% on the year before. Net income was $2.4 billion, down 49.0%, and diluted earnings per share $2.23. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$19.6 billion
-15.1% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$2.4 billion
-49.0% on the year
FY2007FY2014
Diluted EPS
$2.23
-48.4% 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
19,616
23,113
22,603
-15.1%
Cost of revenue
4,932
4,908
4,796
+0.5%
Gross profit
14,683
18,205
17,807
-19.3%
Gross margin
74.9%
78.8%
78.8%
Research and development
4,734
5,531
5,278
-14.4%
Selling, general and administrative
6,621
7,126
7,514
-7.1%
Interest expense
149
160
178
-7.1%
Pre-tax income
3,000
5,889
4,902
-49.1%
Income tax
610
1,204
1,320
-49.4%
Effective tax rate
20.3%
20.5%
26.9%
Net income
2,390
4,685
4,089
-49.0%
Net margin
12.2%
20.3%
18.1%
Diluted EPS
$2.23
$4.32
$3.66
-48.4%
$ 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
4,458
5,735
5,305
-22.3%
Capital expenditure
1,163
1,012
905
+14.9%
Free cash flow
3,296
4,723
4,399
-30.2%
Free cash flow margin
16.8%
20.4%
19.5%
Cash from investing
-3,909
-2,073
-2,833
Cash from financing
-166
-3,829
-4,420
Depreciation and amortisation
1,379
1,446
1,462
-4.6%
Share-based compensation
156
145
142
+7.7%
Buybacks
800
1,698
721
-52.9%
Dividends paid
2,101
2,121
2,187
-0.9%
Diluted shares, weighted
1,074m
1,085m
1,117m
-1.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
15,373
17,631
14,765
-12.8%
Non-controlling interest
14.9
9.3
8.7
+60.2%
Short-term borrowings
n/a
n/a
11.9
Debt
8,022
5,213
5,531
+53.9%
Other liabilities
12,898
12,395
14,082
+4.1%
Total liabilities and equity
36,308
35,249
34,399
+3.0%
Fixed assets
7,964
7,976
7,760
-0.1%
Goodwill
1,758
1,517
1,501
+15.9%
Intangible assets
2,884
2,814
3,186
+2.5%
Investments
5,524
9,192
7,979
-39.9%
Cash and equivalents
3,872
3,830
4,019
+1.1%
Receivables
3,235
3,434
3,336
-5.8%
Inventory
2,740
2,929
2,644
-6.4%
Other assets
8,331
3,557
3,973
+134.2%
Total assets
36,308
35,249
34,399
+3.0%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.