SM Energy (SM) FY2014 results: revenue $2.5 billion, up 10.0% on the year
SM Energy Co. (SM) reported revenue of $2.5 billion for fiscal 2014, the year ended 31 December 2014, up 10.0% on the year before. Net income was $666 million, up 289.7%, and diluted earnings per share $9.79. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$2.5 billion
+10.0% on the year
FY2008FY2014
Operating margin
46.2%
16.1% a year earlier
FY2008FY2014
Net income
$666 million
+289.7% on the year
FY2008FY2014
Diluted EPS
$9.79
+290.0% 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
2,522
2,293
1,505
+10.0%
Operating income
1,166
368
-20.0
+216.6%
Operating margin
46.2%
16.1%
-1.3%
Interest expense
98.6
89.7
63.7
+9.9%
Pre-tax income
1,065
279
-83.5
+282.1%
Income tax
399
108
-29.3
+270.2%
Effective tax rate
37.4%
38.6%
n/a
Net income
666
171
-54.2
+289.7%
Net margin
26.4%
7.5%
-3.6%
Diluted EPS
$9.79
$2.51
-$0.83
+290.0%
$ 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
1,457
1,339
922
+8.8%
Cash from investing
-2,479
-1,193
-1,457
Cash from financing
740
131
422
+466.2%
Share-based compensation
32.7
32.3
30.2
+1.1%
Dividends paid
6.7
6.7
6.5
+0.9%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
68m
68m
65m
+0.1%
Shares outstanding at period end
67m
67m
66m
+0.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,287
1,607
1,414
+42.3%
Debt
2,332
1,600
1,440
+45.8%
Other liabilities
1,864
1,498
1,345
+24.4%
Total liabilities and equity
6,483
4,705
4,200
+37.8%
Fixed assets
5,504
3,860
3,677
+42.6%
Intangible assets
n/a
10.8
10.8
Cash and equivalents
0.1
282
5.9
-100.0%
Receivables
323
318
255
+1.3%
Other assets
656
234
251
+180.6%
Total assets
6,483
4,705
4,200
+37.8%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.