Procter & Gamble (PG) FY2014 results: revenue $74.4 billion, up 0.7% on the year
Procter & Gamble Co. (PG) reported revenue of $74.4 billion for fiscal 2014, the year ended 30 June 2014, up 0.7% on the year before. Net income was $11.6 billion, up 2.9%, and diluted earnings per share $4.01. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2014.
Revenue
$74.4 billion
+0.7% on the year
FY2007FY2014
Operating margin
18.7%
17.7% a year earlier
FY2007FY2014
Net income
$11.6 billion
+2.9% on the year
FY2007FY2014
Diluted EPS
$4.01
+3.9% 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
74,401
73,910
82,006
+0.7%
Cost of revenue
39,030
38,052
41,411
+2.6%
Gross profit
35,371
35,858
40,595
-1.4%
Gross margin
47.5%
48.5%
49.5%
Research and development
1,900
1,900
2,000
0.0%
Selling, general and administrative
21,461
22,499
25,984
-4.6%
Operating income
13,910
13,051
13,035
+6.6%
Operating margin
18.7%
17.7%
15.9%
Interest expense
709
667
769
+6.3%
Income tax
2,851
3,062
3,378
-6.9%
Net income
11,643
11,312
10,756
+2.9%
Net margin
15.6%
15.3%
13.1%
Diluted EPS
$4.01
$3.86
$3.66
+3.9%
$ 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
13,958
14,873
13,284
-6.2%
Capital expenditure
3,848
4,008
3,964
-4.0%
Free cash flow
10,110
10,865
9,320
-6.9%
Free cash flow margin
13.6%
14.7%
11.4%
Cash from investing
-4,107
-6,312
-1,093
Cash from financing
-7,279
-7,071
-10,410
Depreciation and amortisation
3,141
2,982
3,204
+5.3%
Share-based compensation
360
346
377
+4.0%
Buybacks
6,005
5,986
4,024
+0.3%
Dividends paid
6,911
6,519
6,139
+6.0%
Dividend per share
$2.45
$2.29
$2.14
+7.0%
Diluted shares, weighted
2,905m
2,931m
2,941m
-0.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
69,976
68,709
64,035
+1.8%
Debt
35,417
31,543
29,778
+12.3%
Other liabilities
38,873
39,011
38,431
-0.4%
Total liabilities and equity
144,266
139,263
132,244
+3.6%
Fixed assets
21,607
21,666
20,377
-0.3%
Goodwill
50,729
52,284
53,773
-3.0%
Intangible assets
28,729
31,572
30,988
-9.0%
Investments
2,128
0.0
n/a
Cash and equivalents
8,558
5,930
4,436
+44.3%
Receivables
6,034
6,508
6,068
-7.3%
Inventory
6,206
6,909
6,721
-10.2%
Other assets
20,275
14,394
9,881
+40.9%
Total assets
144,266
139,263
132,244
+3.6%
10-K for the year ended 30 June 2014, filed 8 August 2014: the filing.