Mattel (MAT) FY2014 results: revenue $6.0 billion, down 7.1% on the year
Mattel Inc. (MAT) reported revenue of $6.0 billion for fiscal 2014, the year ended 31 December 2014, down 7.1% on the year before. Net income was $499 million, down 44.8%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$6.0 billion
-7.1% on the year
FY2007FY2014
Operating margin
10.9%
18.0% a year earlier
FY2007FY2014
Net income
$499 million
-44.8% on the year
FY2007FY2014
Diluted EPS
$1.45
-43.8% 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
6,024
6,485
6,421
-7.1%
Cost of revenue
3,023
3,006
3,012
+0.6%
Gross profit
3,001
3,479
3,409
-13.7%
Gross margin
49.8%
53.6%
53.1%
Research and development
209
202
195
+3.7%
Operating income
654
1,168
1,021
-44.0%
Operating margin
10.9%
18.0%
15.9%
Interest expense
79.3
78.5
88.8
+1.0%
Pre-tax income
587
1,099
945
-46.6%
Income tax
88.0
195
169
-54.9%
Effective tax rate
15.0%
17.8%
17.8%
Net income
499
904
776
-44.8%
Net margin
8.3%
13.9%
12.1%
Diluted EPS
$1.45
$2.58
$2.22
-43.8%
$ 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
889
698
1,276
+27.2%
Capital expenditure
113
124
111
-8.7%
Free cash flow
775
574
1,165
+35.0%
Free cash flow margin
12.9%
8.9%
18.1%
Cash from investing
-709
-242
-900
Cash from financing
-227
-740
-411
Depreciation and amortisation
249
196
174
+26.6%
Share-based compensation
52.0
61.7
63.3
-15.7%
Buybacks
177
493
66.7
-64.0%
Dividends paid
515
494
423
+4.1%
Dividend per share
$1.52
$1.44
$1.24
+5.6%
Diluted shares, weighted
341m
347m
346m
-1.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,949
3,252
3,067
-9.3%
Short-term borrowings
0.0
4.3
n/a
Debt
2,100
1,600
1,510
+31.2%
Other liabilities
1,673
1,584
1,950
+5.6%
Total liabilities and equity
6,722
6,440
6,527
+4.4%
Fixed assets
738
659
593
+11.9%
Goodwill
1,394
1,083
1,081
+28.7%
Intangible assets
739
681
706
+8.5%
Cash and equivalents
972
1,039
1,336
-6.5%
Receivables
1,093
1,260
1,227
-13.2%
Inventory
562
569
465
-1.2%
Other assets
1,225
1,148
1,119
+6.7%
Total assets
6,722
6,440
6,527
+4.4%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.