Pentair (PNR) FY2014 results: revenue $4.7 billion, down 33.3% on the year
Pentair plc (PNR) reported revenue of $4.7 billion for fiscal 2014, the year ended 31 December 2014, down 33.3% on the year before. Net income was $215 million, down 60.0%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2015.
Revenue
$4.7 billion
-33.3% on the year
FY2008FY2014
Operating margin
11.5%
10.6% a year earlier
FY2008FY2014
Net income
$215 million
-60.0% on the year
FY2008FY2014
Diluted EPS
$1.11
-57.6% 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
4,667
7,000
4,307
-33.3%
Cost of revenue
3,046
4,630
3,041
-34.2%
Gross profit
1,620
2,370
1,266
-31.6%
Gross margin
34.7%
33.9%
29.4%
Research and development
96.4
123
92.3
-21.5%
Selling, general and administrative
986
1,494
1,118
-34.0%
Operating income
538
743
-4.8
-27.5%
Operating margin
11.5%
10.6%
-0.1%
Interest expense
70.9
75.3
70.2
-5.8%
Pre-tax income
471
694
-146
-32.2%
Income tax
114
177
-67.2
-35.4%
Effective tax rate
24.3%
25.5%
n/a
Net income
215
537
-107
-60.0%
Net margin
4.6%
7.7%
-2.5%
Diluted EPS
$1.11
$2.62
-$0.84
-57.6%
$ 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
1,008
928
43.7
+8.7%
Capital expenditure
83.7
170
94.5
-50.8%
Free cash flow
925
758
-50.8
+22.0%
Free cash flow margin
19.8%
10.8%
-1.2%
Cash from investing
-128
-211
376
Cash from financing
-995
-719
-232
Depreciation and amortisation
253
275
160
-8.2%
Share-based compensation
33.6
31.1
35.8
+8.0%
Buybacks
1,150
716
334
+60.7%
Dividends paid
211
194
112
+8.9%
Dividend per share
$1.10
$0.96
$0.88
+14.6%
Diluted shares, weighted
194m
205m
127m
-5.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,664
6,095
6,367
-23.5%
Non-controlling interest
0.0
122
116
Debt
3,004
2,555
2,457
+17.6%
Other liabilities
2,987
2,970
2,942
+0.6%
Total liabilities and equity
10,655
11,743
11,883
-9.3%
Fixed assets
510
1,044
1,188
-51.2%
Goodwill
3,230
4,861
4,838
-33.5%
Intangible assets
1,608
1,750
1,927
-8.1%
Cash and equivalents
104
256
237
-59.5%
Inventory
1,130
1,195
1,334
-5.4%
Other assets
4,073
2,637
2,359
+54.4%
Total assets
10,655
11,743
11,883
-9.3%
10-K for the year ended 31 December 2014, filed 24 February 2015: the filing.