Ralph Lauren (RL) FY2014 results: revenue $7.5 billion, up 7.3% on the year
Ralph Lauren Corp. (RL) reported revenue of $7.5 billion for fiscal 2014, the year ended 29 March 2014, up 7.3% on the year before. Net income was $776 million, up 3.5%, and diluted earnings per share $8.43. The figures are the company's own, from the 10-K it filed with the SEC on 15 May 2014.
Revenue
$7.5 billion
+7.3% on the year
FY2009FY2014
Operating margin
15.2%
16.2% a year earlier
FY2009FY2014
Net income
$776 million
+3.5% on the year
FY2009FY2014
Diluted EPS
$8.43
+5.4% on the year
FY2009FY2014
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
7,450
6,945
6,860
+7.3%
Cost of revenue
3,140
2,789
2,861
+12.6%
Gross profit
4,310
4,156
3,998
+3.7%
Gross margin
57.9%
59.8%
58.3%
Selling, general and administrative
3,142
2,972
2,915
+5.7%
Operating income
1,130
1,127
1,039
+0.3%
Operating margin
15.2%
16.2%
15.2%
Interest expense
20.0
22.0
24.0
-9.1%
Pre-tax income
1,096
1,089
1,015
+0.6%
Income tax
320
339
334
-5.7%
Effective tax rate
29.2%
31.1%
32.9%
Net income
776
750
681
+3.5%
Net margin
10.4%
10.8%
9.9%
Diluted EPS
$8.43
$8.00
$7.13
+5.4%
$ 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
907
1,019
885
-11.0%
Capital expenditure
390
276
272
+41.0%
Free cash flow
517
742
613
-30.4%
Free cash flow margin
6.9%
10.7%
8.9%
Cash from investing
-488
-113
-249
Cash from financing
-599
-595
-408
Depreciation and amortisation
258
233
225
+10.7%
Share-based compensation
93.0
88.0
77.9
+5.7%
Buybacks
558
497
419
+12.2%
Dividends paid
149
128
74.0
+16.6%
Dividend per share
$1.70
$1.60
$0.80
+6.2%
Diluted shares, weighted
92m
94m
96m
-1.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,034
3,785
3,652
+6.6%
Debt
298
267
274
+11.8%
Other liabilities
1,758
1,367
1,490
+28.6%
Total liabilities and equity
6,090
5,418
5,416
+12.4%
Fixed assets
1,322
932
884
+41.8%
Goodwill
964
968
1,004
-0.4%
Intangible assets
299
328
359
-8.8%
Investments
490
406
616
+20.8%
Cash and equivalents
797
974
672
-18.1%
Receivables
588
458
547
+28.4%
Inventory
1,020
896
842
+13.8%
Other assets
610
456
493
+33.6%
Total assets
6,090
5,418
5,416
+12.4%
10-K for the year ended 29 March 2014, filed 15 May 2014: the filing.