ON Semiconductor (ON) FY2014 results: revenue $3.2 billion, up 13.6% on the year
ON Semiconductor Corp. (ON) reported revenue of $3.2 billion for fiscal 2014, the year ended 31 December 2014, up 13.6% on the year before. Net income was $190 million, up 26.1%, and diluted earnings per share $0.43. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$3.2 billion
+13.6% on the year
FY2008FY2014
Operating margin
7.2%
7.5% a year earlier
FY2008FY2014
Net income
$190 million
+26.1% on the year
FY2008FY2014
Diluted EPS
$0.43
+30.3% 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
3,162
2,783
2,895
+13.6%
Cost of revenue
2,077
1,854
1,949
+12.0%
Gross profit
1,085
929
946
+16.8%
Gross margin
34.3%
33.4%
32.7%
Research and development
367
334
368
+9.7%
Operating income
229
209
-20.3
+9.6%
Operating margin
7.2%
7.5%
-0.7%
Interest expense
34.1
38.6
56.1
-11.7%
Pre-tax income
192
170
-76.9
+12.9%
Income tax
-0.2
16.4
16.0
Effective tax rate
-0.1%
9.6%
n/a
Net income
190
150
-97.2
+26.1%
Net margin
6.0%
5.4%
-3.4%
Diluted EPS
$0.43
$0.33
-$0.20
+30.3%
$ 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
481
327
276
+47.1%
Capital expenditure
204
155
256
+31.6%
Free cash flow
277
172
19.7
+61.0%
Free cash flow margin
8.8%
6.2%
0.7%
Cash from investing
-566
-118
-133
Cash from financing
91.4
-174
-300
Depreciation and amortisation
269
212
244
+26.9%
Share-based compensation
45.8
32.3
20.5
+41.8%
Buybacks
122
101
55.5
+20.6%
Diluted shares, weighted
444m
451m
453m
-1.6%
Shares outstanding at period end
434m
440m
449m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,626
1,491
1,361
+9.1%
Non-controlling interest
20.9
32.8
29.6
-36.3%
Debt
1,207
942
1,012
+28.1%
Other liabilities
968
828
926
+16.9%
Total liabilities and equity
3,823
3,294
3,328
+16.1%
Fixed assets
1,204
1,074
1,103
+12.1%
Goodwill
264
185
185
+42.9%
Intangible assets
458
223
257
+104.8%
Investments
6.1
116
145
-94.8%
Cash and equivalents
512
510
487
+0.4%
Receivables
418
383
358
+8.9%
Inventory
730
609
582
+19.9%
Other assets
232
194
212
+20.0%
Total assets
3,823
3,294
3,328
+16.1%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.