Pg&E (PCG) FY2014 results: revenue $17.1 billion, up 9.6% on the year
Pg&E Corp. (PCG) reported revenue of $17.1 billion for fiscal 2014, the year ended 31 December 2014, up 9.6% on the year before. Net income was $1.4 billion, up 76.4%, and diluted earnings per share $3.06. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2015.
Revenue
$17.1 billion
+9.6% on the year
FY2007FY2014
Operating margin
14.3%
11.3% a year earlier
FY2007FY2014
Net income
$1.4 billion
+76.4% on the year
FY2007FY2014
Diluted EPS
$3.06
+67.2% 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
17,090
15,598
15,040
+9.6%
Operating income
2,450
1,762
1,693
+39.0%
Operating margin
14.3%
11.3%
11.3%
Interest expense
734
715
703
+2.7%
Pre-tax income
1,795
1,096
1,067
+63.8%
Income tax
345
268
237
+28.7%
Effective tax rate
19.2%
24.5%
22.2%
Net income
1,436
814
816
+76.4%
Net margin
8.4%
5.2%
5.4%
Diluted EPS
$3.06
$1.83
$1.92
+67.2%
$ 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
3,690
3,427
4,882
+7.7%
Capital expenditure
4,833
5,207
4,624
-7.2%
Free cash flow
-1,143
-1,780
258
Free cash flow margin
-6.7%
-11.4%
1.7%
Cash from investing
-4,714
-5,107
-4,526
Cash from financing
879
1,575
-468
-44.2%
Share-based compensation
78.0
64.0
57.0
+21.9%
Dividends paid
828
782
746
+5.9%
Dividend per share
n/a
n/a
$1.82
Diluted shares, weighted
470m
445m
425m
+5.6%
Shares outstanding at period end
476m
457m
431m
+4.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
15,748
14,342
13,074
+9.8%
Non-controlling interest
252
252
252
0.0%
Debt
15,683
14,780
13,409
+6.1%
Other liabilities
28,444
26,231
25,714
+8.4%
Total liabilities and equity
60,127
55,605
52,449
+8.1%
Fixed assets
43,941
41,252
37,523
+6.5%
Securities held for sale or to maturity
1,130
1,103
1,052
+2.4%
Cash and equivalents
151
296
401
-49.0%
Receivables
960
1,091
937
-12.0%
Inventory
172
137
135
+25.5%
Other assets
13,773
11,726
12,401
+17.5%
Total assets
60,127
55,605
52,449
+8.1%
10-K for the year ended 31 December 2014, filed 10 February 2015: the filing.