PPL (PPL) FY2014 results: revenue $7.9 billion, up 8.1% on the year
PPL Corp. (PPL) reported revenue of $7.9 billion for fiscal 2014, the year ended 31 December 2014, up 8.1% on the year before. Net income was $1.7 billion, up 53.7%, and diluted earnings per share $2.61. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2015.
Revenue
$7.9 billion
+8.1% on the year
FY2007FY2014
Operating margin
36.5%
35.3% a year earlier
FY2007FY2014
Net income
$1.7 billion
+53.7% on the year
FY2007FY2014
Diluted EPS
$2.61
+48.3% 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
7,852
7,263
12,132
+8.1%
Operating income
2,867
2,561
3,026
+11.9%
Operating margin
36.5%
35.3%
24.9%
Interest expense
843
778
951
+8.4%
Pre-tax income
2,129
1,728
2,009
+23.2%
Income tax
692
360
518
+92.2%
Effective tax rate
32.5%
20.8%
25.8%
Net income
1,737
1,130
1,526
+53.7%
Net margin
22.1%
15.6%
12.6%
Diluted EPS
$2.61
$1.76
$2.60
+48.3%
$ 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
3,403
2,857
2,764
+19.1%
Capital expenditure
3,674
3,629
3,105
+1.2%
Free cash flow
-271
-772
-341
Free cash flow margin
-3.5%
-10.6%
-2.8%
Cash from investing
-3,329
-4,295
-3,123
Cash from financing
583
1,631
48.0
-64.3%
Depreciation
923
843
n/a
+9.5%
Share-based compensation
64.0
51.0
49.0
+25.5%
Buybacks
0.0
74.0
0.0
Dividends paid
967
878
833
+10.1%
Dividend per share
$1.49
$1.47
$1.44
+1.4%
Diluted shares, weighted
666m
663m
582m
+0.4%
Shares outstanding at period end
666m
630m
582m
+5.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
13,628
12,466
10,480
+9.3%
Non-controlling interest
n/a
n/a
18.0
Short-term borrowings
836
701
652
+19.3%
Debt
18,054
20,907
19,476
-13.6%
Other liabilities
16,088
12,185
13,008
+32.0%
Total liabilities and equity
48,606
46,259
43,634
+5.1%
Fixed assets
28,169
33,087
30,032
-14.9%
Goodwill
3,667
3,805
4,158
-3.6%
Intangible assets
668
947
925
-29.5%
Investments
1,105
907
759
+21.8%
Cash and equivalents
1,399
863
488
+62.1%
Receivables
737
923
745
-20.2%
Inventory
381
702
673
-45.7%
Other assets
12,480
5,025
5,854
+148.4%
Total assets
48,606
46,259
43,634
+5.1%
10-K for the year ended 31 December 2014, filed 23 February 2015: the filing.