Oracle (ORCL) FY2014 results: revenue $38.3 billion, up 2.9% on the year
Oracle Corp. (ORCL) reported revenue of $38.3 billion for fiscal 2014, the year ended 31 May 2014, up 2.9% on the year before. Net income was $11.0 billion, up 0.3%, and diluted earnings per share $2.38. The figures are the company's own, from the 10-K it filed with the SEC on 26 June 2014.
Revenue
$38.3 billion
+2.9% on the year
FY2008FY2014
Operating margin
38.6%
39.5% a year earlier
FY2008FY2014
Net income
$11.0 billion
+0.3% on the year
FY2008FY2014
Diluted EPS
$2.38
+5.3% 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
38,275
37,180
37,121
+2.9%
Cost of revenue
2,954
3,182
3,382
-7.2%
Gross profit
35,321
33,998
33,739
+3.9%
Gross margin
92.3%
91.4%
90.9%
Research and development
5,151
4,850
4,523
+6.2%
Operating income
14,759
14,684
13,706
+0.5%
Operating margin
38.6%
39.5%
36.9%
Interest expense
914
797
766
+14.7%
Pre-tax income
13,704
13,898
12,962
-1.4%
Income tax
2,749
2,973
2,981
-7.5%
Effective tax rate
20.1%
21.4%
23.0%
Net income
10,955
10,925
9,981
+0.3%
Net margin
28.6%
29.4%
26.9%
Diluted EPS
$2.38
$2.26
$1.96
+5.3%
$ 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
14,921
14,224
13,743
+4.9%
Capital expenditure
580
650
648
-10.8%
Free cash flow
14,341
13,574
13,095
+5.7%
Free cash flow margin
37.5%
36.5%
35.3%
Cash from investing
n/a
-5,956
-8,381
Cash from financing
n/a
-8,500
-6,099
Depreciation and amortisation
2,908
2,931
2,916
-0.8%
Share-based compensation
805
755
659
+6.6%
Buybacks
9,813
11,021
5,856
-11.0%
Dividends paid
2,178
1,433
1,205
+52.0%
Dividend per share
$0.48
$0.30
$0.24
+60.0%
Diluted shares, weighted
4,604m
4,844m
5,095m
-5.0%
Shares outstanding at period end
4,464m
4,646m
4,905m
-3.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
46,878
44,648
43,688
+5.0%
Non-controlling interest
569
497
399
+14.5%
Debt
24,097
18,494
16,474
+30.3%
Other liabilities
18,800
18,173
17,766
+3.5%
Total liabilities and equity
90,344
81,812
78,327
+10.4%
Fixed assets
3,061
3,053
3,021
+0.3%
Goodwill
29,652
27,343
25,119
+8.4%
Intangible assets
6,137
6,640
7,899
-7.6%
Investments
21,050
17,603
15,721
+19.6%
Cash and equivalents
17,769
14,613
14,955
+21.6%
Receivables
6,087
6,049
6,377
+0.6%
Inventory
189
240
158
-21.2%
Other assets
6,399
6,271
5,077
+2.0%
Total assets
90,344
81,812
78,327
+10.4%
10-K for the year ended 31 May 2014, filed 26 June 2014: the filing.