NRG Energy (NRG) FY2014 results: revenue $15.9 billion, up 40.5% on the year
NRG Energy, Inc. (NRG) reported revenue of $15.9 billion for fiscal 2014, the year ended 31 December 2014, up 40.5% on the year before. Net income was $134 million, and diluted earnings per share $0.23. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$15.9 billion
+40.5% on the year
FY2007FY2014
Operating margin
8.0%
3.0% a year earlier
FY2007FY2014
Net income
$134 million
FY2007FY2014
Diluted EPS
$0.23
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
15,868
11,295
8,422
+40.5%
Cost of revenue
11,808
8,121
6,140
+45.4%
Gross profit
4,060
3,174
2,282
+27.9%
Gross margin
25.6%
28.1%
27.1%
Research and development
88.0
84.0
68.0
+4.8%
Selling, general and administrative
1,016
895
807
+13.5%
Operating income
1,271
343
350
+270.6%
Operating margin
8.0%
3.0%
4.2%
Interest expense
1,119
848
661
+32.0%
Pre-tax income
135
-634
-12.0
Income tax
3.0
-282
-327
Effective tax rate
2.2%
n/a
n/a
Net income
134
-386
295
Net margin
0.8%
-3.4%
3.5%
Diluted EPS
$0.23
-$1.22
$1.22
$ 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
1,510
1,270
1,149
+18.9%
Capital expenditure
909
1,987
3,396
-54.3%
Free cash flow
601
-717
-2,247
Free cash flow margin
3.8%
-6.3%
-26.7%
Cash from investing
-2,903
-2,528
-2,262
Cash from financing
1,265
1,427
2,099
-11.4%
Depreciation and amortisation
1,523
1,256
950
+21.3%
Share-based compensation
42.0
38.0
41.0
+10.5%
Buybacks
39.0
25.0
0.0
+56.0%
Dividends paid
196
n/a
n/a
Dividend per share
$0.54
$0.45
$0.18
+20.0%
Diluted shares, weighted
339m
323m
234m
+5.0%
Shares outstanding at period end
337m
324m
323m
+4.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
11,676
10,469
10,269
+11.5%
Redeemable equity
291
249
249
+16.9%
Debt
20,366
16,804
15,866
+21.2%
Other liabilities
8,133
6,380
8,599
+27.5%
Total liabilities and equity
40,466
33,902
34,983
+19.4%
Fixed assets
22,367
19,851
20,153
+12.7%
Goodwill
2,574
1,985
1,956
+29.7%
Intangible assets
2,567
1,140
1,210
+125.2%
Cash and equivalents
2,116
2,254
2,087
-6.1%
Receivables
1,322
1,214
1,061
+8.9%
Inventory
1,247
898
903
+38.9%
Other assets
8,273
6,560
7,613
+26.1%
Total assets
40,466
33,902
34,983
+19.4%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.