NVIDIA (NVDA) FY2014 results: revenue $4.1 billion, down 3.5% on the year
NVIDIA Corp. (NVDA) reported revenue of $4.1 billion for fiscal 2014, the year ended 26 January 2014, down 3.5% on the year before. Net income was $440 million, down 21.8%, and diluted earnings per share $0.02. The figures are the company's own, from the 10-K it filed with the SEC on 13 March 2014.
Revenue
$4.1 billion
-3.5% on the year
FY2008FY2014
Operating margin
12.0%
15.1% a year earlier
FY2008FY2014
Net income
$440 million
-21.8% on the year
FY2008FY2014
Diluted EPS
$0.02
-17.8% 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
4,130
4,280
3,998
-3.5%
Cost of revenue
1,862
2,054
1,941
-9.3%
Gross profit
2,268
2,226
2,057
+1.9%
Gross margin
54.9%
52.0%
51.4%
Research and development
1,336
1,147
1,003
+16.4%
Selling, general and administrative
436
431
406
+1.1%
Operating income
496
648
648
-23.4%
Operating margin
12.0%
15.1%
16.2%
Interest expense
10.0
3.3
3.1
+203.6%
Pre-tax income
510
662
663
-22.9%
Income tax
70.0
99.5
82.3
-29.7%
Effective tax rate
13.7%
15.0%
12.4%
Net income
440
563
581
-21.8%
Net margin
10.7%
13.1%
14.5%
Diluted EPS
$0.02
$0.02
$0.02
-17.8%
$ 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
835
824
909
+1.3%
Capital expenditure
n/a
n/a
139
Free cash flow
n/a
n/a
770
Free cash flow margin
n/a
n/a
19.3%
Cash from investing
-806
-744
-1,143
Cash from financing
390
-15.3
237
Depreciation and amortisation
239
226
204
+5.7%
Share-based compensation
136
137
136
-0.5%
Buybacks
887
100
0.0
+787.3%
Dividends paid
181
46.9
0.0
+286.9%
Dividend per share
$0.01
$0.00
$0.00
+305.3%
Diluted shares, weighted
23,781m
24,998m
24,655m
-4.9%
Shares outstanding at period end
22,720m
24,670m
24,488m
-7.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,456
4,828
4,146
-7.7%
Debt
1,356
0.0
0.0
Other liabilities
1,438
1,585
1,407
-9.2%
Total liabilities and equity
7,251
6,412
5,553
+13.1%
Fixed assets
583
576
560
+1.1%
Goodwill
643
641
641
+0.3%
Intangible assets
296
312
326
-5.2%
Investments
3,520
2,995
2,462
+17.5%
Cash and equivalents
1,152
733
668
+57.2%
Receivables
426
454
336
-6.1%
Inventory
388
412
340
-6.0%
Other assets
243
288
220
-15.7%
Total assets
7,251
6,412
5,553
+13.1%
10-K for the year ended 26 January 2014, filed 13 March 2014: the filing.