SLB (SLB) FY2014 results: revenue $48.6 billion, up 7.3% on the year
SLB Limited (SLB) reported revenue of $48.6 billion for fiscal 2014, the year ended 31 December 2014, up 7.3% on the year before. Net income was $5.4 billion, down 19.2%, and diluted earnings per share $4.16. The figures are the company's own, from the 10-K it filed with the SEC on 29 January 2015.
Revenue
$48.6 billion
+7.3% on the year
FY2007FY2014
Operating margin
21.8%
20.6% a year earlier
FY2007FY2014
Net income
$5.4 billion
-19.2% on the year
FY2007FY2014
Diluted EPS
$4.16
-17.6% 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
48,580
45,266
41,731
+7.3%
Cost of revenue
37,398
35,331
32,885
+5.9%
Gross profit
11,182
9,935
8,846
+12.6%
Gross margin
23.0%
21.9%
21.2%
Research and development
1,217
1,174
1,153
+3.7%
Operating income
10,576
9,344
n/a
+13.2%
Operating margin
21.8%
20.6%
n/a
Interest expense
369
391
340
-5.6%
Pre-tax income
7,639
8,691
6,959
-12.1%
Income tax
1,928
1,848
1,700
+4.3%
Effective tax rate
25.2%
21.3%
24.4%
Net income
5,438
6,732
5,490
-19.2%
Net margin
11.2%
14.9%
13.2%
Diluted EPS
$4.16
$5.05
$4.10
-17.6%
$ 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
11,219
9,788
6,543
+14.6%
Capital expenditure
3,976
3,943
4,695
+0.8%
Free cash flow
7,243
5,845
1,848
+23.9%
Free cash flow margin
14.9%
12.9%
4.4%
Cash from investing
n/a
-5,977
-7,174
Cash from financing
n/a
-2,199
-339
Depreciation and amortisation
4,094
3,879
3,647
+5.5%
Share-based compensation
329
315
335
+4.4%
Dividends paid
1,968
1,608
1,432
+22.4%
Diluted shares, weighted
1,308m
1,333m
1,339m
-1.9%
Shares outstanding at period end
1,275m
1,307m
1,328m
-2.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
37,850
39,469
34,751
-4.1%
Non-controlling interest
199
166
107
+19.9%
Debt
13,330
13,176
11,630
+1.2%
Other liabilities
15,525
14,289
15,059
+8.7%
Total liabilities and equity
66,904
67,100
61,547
-0.3%
Fixed assets
15,396
15,096
14,780
+2.0%
Goodwill
15,487
14,706
14,585
+5.3%
Intangible assets
4,654
4,709
4,802
-1.2%
Investments
81.0
81.0
81.0
0.0%
Trading assets
n/a
194
n/a
Cash and equivalents
3,130
3,472
1,905
-9.9%
Receivables
11,171
11,497
11,351
-2.8%
Inventory
4,628
4,603
4,785
+0.5%
Other assets
12,357
12,742
9,258
-3.0%
Total assets
66,904
67,100
61,547
-0.3%
10-K for the year ended 31 December 2014, filed 29 January 2015: the filing.