MKS (MKSI) FY2014 results: revenue $781 million, up 16.6% on the year
MKS Inc. (MKSI) reported revenue of $781 million for fiscal 2014, the year ended 31 December 2014, up 16.6% on the year before. Net income was $116 million, up 223.6%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$781 million
+16.6% on the year
FY2008FY2014
Operating margin
17.3%
8.7% a year earlier
FY2008FY2014
Net income
$116 million
+223.6% on the year
FY2008FY2014
Diluted EPS
$2.16
+222.4% on the year
FY2008FY2014
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
781
669
644
+16.6%
Cost of revenue
443
403
374
+10.0%
Gross profit
338
267
269
+26.7%
Gross margin
43.3%
39.8%
41.9%
Research and development
62.9
63.6
60.1
-1.1%
Selling, general and administrative
132
142
127
-7.2%
Operating income
135
58.4
74.2
+131.5%
Operating margin
17.3%
8.7%
11.5%
Interest expense
0.1
0.1
0.1
-15.3%
Pre-tax income
136
59.3
75.1
+130.0%
Income tax
20.6
23.5
27.1
-12.4%
Effective tax rate
15.1%
39.7%
36.1%
Net income
116
35.8
48.0
+223.6%
Net margin
14.8%
5.3%
7.5%
Diluted EPS
$2.16
$0.67
$0.90
+222.4%
$ 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
102
76.1
137
+33.9%
Capital expenditure
13.2
12.4
17.7
+6.2%
Free cash flow
88.7
63.7
119
+39.3%
Free cash flow margin
11.4%
9.5%
18.6%
Cash from investing
n/a
-36.5
-118
Cash from financing
n/a
-37.1
-47.0
Depreciation and amortisation
20.5
17.1
14.4
+20.0%
Share-based compensation
11.3
14.0
13.0
-19.1%
Buybacks
20.8
2.9
11.5
+623.8%
Dividends paid
34.9
34.0
32.7
+2.6%
Dividend per share
$0.66
$0.64
$0.62
+2.3%
Diluted shares, weighted
54m
53m
53m
+0.1%
Shares outstanding at period end
53m
53m
53m
-0.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,082
1,022
1,012
+5.9%
Debt
0.0
0.0
n/a
Other liabilities
142
191
140
-25.7%
Total liabilities and equity
1,224
1,213
1,153
+0.9%
Fixed assets
72.8
77.5
80.5
-6.1%
Goodwill
192
151
151
+27.5%
Intangible assets
46.4
13.1
11.6
+254.4%
Investments
444
361
340
+22.9%
Cash and equivalents
305
289
288
+5.7%
Receivables
106
117
82.1
-8.9%
Inventory
155
143
135
+8.7%
Other assets
n/a
62.0
65.7
Total assets
1,224
1,213
1,153
+0.9%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.