Parker-Hannifin (PH) FY2014 results: revenue $13.2 billion, up 1.5% on the year
Parker-Hannifin Corp. (PH) reported revenue of $13.2 billion for fiscal 2014, the year ended 30 June 2014, up 1.5% on the year before. Net income was $1.0 billion, up 9.8%, and diluted earnings per share $6.87. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2014.
Revenue
$13.2 billion
+1.5% on the year
FY2008FY2014
Operating margin
13.5%
13.8% a year earlier
FY2008FY2014
Net income
$1.0 billion
+9.8% on the year
FY2008FY2014
Diluted EPS
$6.87
+9.7% 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
13,216
13,016
13,146
+1.5%
Cost of revenue
10,188
10,087
9,958
+1.0%
Gross profit
3,028
2,929
3,188
+3.4%
Gross margin
22.9%
22.5%
24.2%
Research and development
410
407
366
+0.9%
Selling, general and administrative
1,634
1,555
1,519
+5.1%
Operating income
1,790
1,791
2,003
-0.1%
Operating margin
13.5%
13.8%
15.2%
Interest expense
82.6
91.6
92.8
-9.8%
Pre-tax income
1,557
1,311
1,577
+18.7%
Income tax
515
362
421
+42.3%
Effective tax rate
33.1%
27.6%
26.7%
Net income
1,041
948
1,152
+9.8%
Net margin
7.9%
7.3%
8.8%
Diluted EPS
$6.87
$6.26
$7.45
+9.7%
$ 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
1,388
1,191
1,530
+16.5%
Capital expenditure
216
266
219
-18.6%
Free cash flow
1,172
925
1,312
+26.6%
Free cash flow margin
8.9%
7.1%
10.0%
Cash from investing
-646
-810
-376
Cash from financing
-958
576
-824
Depreciation and amortisation
334
332
318
+0.5%
Share-based compensation
103
85.0
80.9
+21.4%
Buybacks
204
258
457
-20.9%
Dividends paid
278
255
241
+9.1%
Dividend per share
$1.86
$1.70
$1.54
+9.4%
Diluted shares, weighted
151m
152m
155m
-0.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
6,659
5,738
4,897
+16.0%
Non-controlling interest
3.4
3.1
9.2
+10.6%
Debt
2,325
2,830
1,729
-17.8%
Other liabilities
4,287
3,970
4,536
+8.0%
Total liabilities and equity
13,274
12,541
11,170
+5.8%
Fixed assets
1,824
1,808
1,720
+0.9%
Goodwill
3,171
3,224
2,926
-1.6%
Intangible assets
1,188
1,290
1,095
-7.9%
Investments
574
0.0
n/a
Cash and equivalents
1,614
1,781
838
-9.4%
Inventory
1,372
1,377
1,401
-0.4%
Other assets
3,531
3,060
3,190
+15.4%
Total assets
13,274
12,541
11,170
+5.8%
10-K for the year ended 30 June 2014, filed 22 August 2014: the filing.