Mgic Investment (MTG) FY2014 results: revenue $942 million, down 9.4% on the year
Mgic Investment Corp. (MTG) reported revenue of $942 million for fiscal 2014, the year ended 31 December 2014, down 9.4% on the year before. Net income was $252 million, and diluted earnings per share $0.64. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$942 million
-9.4% on the year
FY2008FY2014
Operating margin
27.0%
-4.4% a year earlier
FY2008FY2014
Net income
$252 million
FY2008FY2014
Diluted EPS
$0.64
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
942
1,039
1,378
-9.4%
Operating income
255
-46.2
-929
Operating margin
27.0%
-4.4%
-67.4%
Interest expense
69.6
79.7
99.3
-12.6%
Pre-tax income
255
-46.2
-929
Income tax
2.8
3.7
-1.6
-24.9%
Effective tax rate
1.1%
n/a
n/a
Net income
252
-49.8
-927
Net margin
26.8%
-4.8%
-67.3%
Diluted EPS
$0.64
-$0.16
-$4.59
$ 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
-405
-972
-1,569
Capital expenditure
4.7
0.8
n/a
+474.0%
Free cash flow
-410
-972
n/a
Free cash flow margin
-43.5%
-93.5%
n/a
Cash from investing
n/a
-854
1,654
Cash from financing
n/a
1,131
-53.1
Depreciation and amortisation
48.9
69.2
100
-29.4%
Share-based compensation
9.2
6.6
8.6
+39.4%
Buybacks
0.0
n/a
n/a
Dividends paid
n/a
0.0
0.0
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
414m
312m
202m
+32.7%
Shares outstanding at period end
339m
338m
202m
+0.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,037
745
197
+39.3%
Debt
1,296
n/a
n/a
Other liabilities
2,933
4,857
5,377
-39.6%
Total liabilities and equity
5,266
5,601
5,574
-6.0%
Fixed assets
28.7
26.2
27.2
+9.6%
Securities held for sale or to maturity
4,610
4,864
4,227
-5.2%
Cash and equivalents
198
333
1,028
-40.5%
Other assets
430
379
292
+13.6%
Total assets
5,266
5,601
5,574
-6.0%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.