Netflix (NFLX) FY2014 results: revenue $5.5 billion, up 25.8% on the year
Netflix Inc. (NFLX) reported revenue of $5.5 billion for fiscal 2014, the year ended 31 December 2014, up 25.8% on the year before. Net income was $267 million, up 137.4%, and diluted earnings per share $0.06. The figures are the company's own, from the 10-K it filed with the SEC on 29 January 2015.
Revenue
$5.5 billion
+25.8% on the year
FY2007FY2014
Operating margin
7.3%
5.2% a year earlier
FY2007FY2014
Net income
$267 million
+137.4% on the year
FY2007FY2014
Diluted EPS
$0.06
+133.7% 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
5,505
4,375
3,609
+25.8%
Cost of revenue
3,753
3,117
2,652
+20.4%
Gross profit
1,752
1,257
957
+39.3%
Gross margin
31.8%
28.7%
26.5%
Research and development
398
379
329
+5.1%
Operating income
403
228
50.0
+76.3%
Operating margin
7.3%
5.2%
1.4%
Interest expense
50.2
29.1
20.0
+72.3%
Pre-tax income
349
171
30.5
+104.2%
Income tax
82.6
58.7
13.3
+40.7%
Effective tax rate
23.6%
34.3%
43.7%
Net income
267
112
17.2
+137.4%
Net margin
4.8%
2.6%
0.5%
Diluted EPS
$0.06
$0.03
$0.00
+133.7%
$ 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
16.5
97.8
21.6
-83.2%
Capital expenditure
69.7
54.1
40.3
+28.8%
Free cash flow
-53.2
43.7
-18.7
Free cash flow margin
-1.0%
1.0%
-0.5%
Cash from investing
-42.9
-256
-245
Cash from financing
542
476
5.6
+13.7%
Depreciation and amortisation
54.0
48.4
45.5
+11.7%
Share-based compensation
115
73.1
73.9
+57.6%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
4,319m
4,253m
4,123m
+1.5%
Shares outstanding at period end
4,229m
4,172m
3,878m
+1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,858
1,334
745
+39.3%
Debt
886
500
200
+77.2%
Other liabilities
4,299
3,579
3,023
+20.1%
Total liabilities and equity
7,042
5,413
3,968
+30.1%
Fixed assets
150
134
132
+12.2%
Investments
495
595
458
-16.9%
Cash and equivalents
1,114
605
290
+84.1%
Other assets
5,284
4,079
3,088
+29.6%
Total assets
7,042
5,413
3,968
+30.1%
10-K for the year ended 31 December 2014, filed 29 January 2015: the filing.