NXP Semiconductors (NXPI) FY2014 results: revenue $5.6 billion, up 17.3% on the year
NXP Semiconductors N.V. (NXPI) reported revenue of $5.6 billion for fiscal 2014, the year ended 31 December 2014, up 17.3% on the year before. Net income was $539 million, up 54.9%, and diluted earnings per share $2.17. The figures are the company's own, from the 20-F it filed with the SEC on 6 March 2015.
Revenue
$5.6 billion
+17.3% on the year
FY2009FY2014
Operating margin
18.6%
13.5% a year earlier
FY2009FY2014
Net income
$539 million
+54.9% on the year
FY2009FY2014
Diluted EPS
$2.17
+59.6% on the year
FY2009FY2014
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
5,647
4,815
4,358
+17.3%
Cost of revenue
3,007
2,638
2,370
+14.0%
Gross profit
2,640
2,177
1,988
+21.3%
Gross margin
46.8%
45.2%
45.6%
Research and development
763
639
628
+19.4%
Selling, general and administrative
686
664
977
+3.3%
Operating income
1,049
651
412
+61.1%
Operating margin
18.6%
13.5%
9.5%
Interest expense
158
214
270
-26.2%
Pre-tax income
639
377
-25.0
+69.5%
Income tax
40.0
20.0
1.0
+100.0%
Effective tax rate
6.3%
5.3%
n/a
Net income
539
348
-115
+54.9%
Net margin
9.5%
7.2%
-2.6%
Diluted EPS
$2.17
$1.36
-$0.46
+59.6%
$ 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
Capital expenditure
329
215
251
+53.0%
Depreciation and amortisation
405
514
533
-21.2%
Share-based compensation
133
88.0
52.0
+51.1%
Buybacks
1,435
405
40.0
+254.3%
Diluted shares, weighted
249m
255m
248m
-2.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
538
1,301
1,049
-58.6%
Non-controlling interest
263
245
235
+7.3%
Short-term borrowings
n/a
n/a
307
Debt
3,936
3,281
3,185
+20.0%
Other liabilities
2,113
1,622
1,663
+30.3%
Total liabilities and equity
6,850
6,449
6,439
+6.2%
Fixed assets
1,123
1,048
1,070
+7.2%
Goodwill
2,121
2,358
2,277
-10.1%
Intangible assets
1,866
755
965
+147.2%
Cash and equivalents
1,185
670
617
+76.9%
Receivables
593
542
510
+9.4%
Inventory
755
740
715
+2.0%
Other assets
n/a
336
285
Total assets
6,850
6,449
6,439
+6.2%
20-F for the year ended 31 December 2014, filed 6 March 2015: the filing.