Synopsys (SNPS) FY2014 results: revenue $2.1 billion, up 4.9% on the year
Synopsys Inc. (SNPS) reported revenue of $2.1 billion for fiscal 2014, the year ended 31 October 2014, up 4.9% on the year before. Net income was $259 million, up 4.6%, and diluted earnings per share $1.64. The figures are the company's own, from the 10-K it filed with the SEC on 15 December 2014.
Revenue
$2.1 billion
+4.9% on the year
FY2008FY2014
Operating margin
12.1%
12.6% a year earlier
FY2008FY2014
Net income
$259 million
+4.6% on the year
FY2008FY2014
Diluted EPS
$1.64
+3.8% 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
2,057
1,962
1,756
+4.9%
Cost of revenue
457
454
393
+0.7%
Gross profit
1,601
1,509
1,363
+6.1%
Gross margin
77.8%
76.9%
77.6%
Research and development
719
669
582
+7.4%
Operating income
249
246
190
+0.9%
Operating margin
12.1%
12.6%
10.8%
Interest expense
1.9
1.7
2.0
+11.7%
Pre-tax income
272
276
201
-1.3%
Income tax
13.0
27.9
18.7
-53.3%
Effective tax rate
4.8%
10.1%
9.3%
Net income
259
248
182
+4.6%
Net margin
12.6%
12.6%
10.4%
Diluted EPS
$1.64
$1.58
$1.21
+3.8%
$ 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
551
497
486
+10.9%
Capital expenditure
103
65.5
54.2
+57.8%
Free cash flow
448
431
432
+3.8%
Free cash flow margin
21.8%
22.0%
24.6%
Cash from investing
-497
-66.1
-879
Cash from financing
-73.7
-98.0
243
Depreciation and amortisation
193
187
157
+2.9%
Share-based compensation
79.4
67.5
71.4
+17.7%
Buybacks
120
145
40.0
-17.4%
Diluted shares, weighted
158m
157m
150m
+0.7%
Shares outstanding at period end
156m
154m
151m
+1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
3,056
2,788
2,502
+9.6%
Non-controlling interest
n/a
n/a
42.3
Debt
75.0
105
135
-28.6%
Other liabilities
1,644
1,466
1,469
+12.2%
Total liabilities and equity
4,775
4,359
4,148
+9.6%
Fixed assets
249
198
191
+26.1%
Goodwill
2,256
1,976
1,977
+14.2%
Intangible assets
365
335
466
+8.8%
Investments
0.0
n/a
n/a
Cash and equivalents
986
1,022
700
-3.6%
Receivables
327
256
293
+27.6%
Other assets
593
571
520
+3.8%
Total assets
4,775
4,359
4,148
+9.6%
10-K for the year ended 31 October 2014, filed 15 December 2014: the filing.