ONEOK (OKE) FY2014 results: revenue $12.2 billion, up 2.7% on the year
ONEOK Inc. (OKE) reported revenue of $12.2 billion for fiscal 2014, the year ended 31 December 2014, up 2.7% on the year before. Net income was $314 million, up 17.8%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$12.2 billion
+2.7% on the year
FY2007FY2014
Operating margin
9.4%
7.4% a year earlier
FY2007FY2014
Net income
$314 million
+17.8% on the year
FY2007FY2014
Diluted EPS
$1.49
+17.3% 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
12,195
11,872
10,184
+2.7%
Cost of revenue
10,089
10,222
8,540
-1.3%
Gross profit
2,107
1,650
1,644
+27.7%
Gross margin
17.3%
13.9%
16.1%
Operating income
1,144
881
953
+29.9%
Operating margin
9.4%
7.4%
9.4%
Interest expense
356
271
238
+31.6%
Pre-tax income
820
755
859
+8.6%
Income tax
151
166
181
-9.0%
Effective tax rate
18.4%
22.0%
21.1%
Net income
314
267
361
+17.8%
Net margin
2.6%
2.2%
3.5%
Diluted EPS
$1.49
$1.27
$1.71
+17.3%
$ 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
1,286
1,295
984
-0.7%
Capital expenditure
1,779
2,257
1,866
-21.2%
Free cash flow
-494
-962
-882
Free cash flow margin
-4.0%
-8.1%
-8.7%
Cash from investing
-2,566
-2,642
-1,814
Cash from financing
1,304
913
1,339
+42.9%
Depreciation and amortisation
295
239
205
+23.1%
Share-based compensation
26.2
46.2
36.7
-43.2%
Buybacks
0.0
0.0
150
Dividends paid
444
305
262
+45.6%
Dividend per share
$2.12
$1.48
$1.27
+43.6%
Diluted shares, weighted
210m
210m
211m
+0.3%
Shares outstanding at period end
208m
207m
205m
+0.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
592
2,338
2,130
-74.7%
Non-controlling interest
3,414
2,507
2,103
+36.2%
Debt
8,216
8,329
7,343
-1.4%
Other liabilities
3,040
4,534
4,325
-32.9%
Total liabilities and equity
15,262
17,708
15,901
-13.8%
Fixed assets
11,662
9,232
7,265
+26.3%
Goodwill
526
526
434
0.0%
Intangible assets
489
499
405
-2.0%
Cash and equivalents
173
146
577
+18.7%
Receivables
745
1,110
935
-32.8%
Inventory
134
188
236
-28.8%
Other assets
1,532
6,008
6,050
-74.5%
Total assets
15,262
17,708
15,901
-13.8%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.