Simon Property Group (SPG) FY2014 results: revenue $4.9 billion, up 7.2% on the year
Simon Property Group Inc. (SPG) reported revenue of $4.9 billion for fiscal 2014, the year ended 31 December 2014, up 7.2% on the year before. Net income was $1.4 billion, up 6.8%, and diluted earnings per share $4.52. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$4.9 billion
+7.2% on the year
FY2007FY2014
Operating margin
49.0%
48.2% a year earlier
FY2007FY2014
Net income
$1.4 billion
+6.8% on the year
FY2007FY2014
Diluted EPS
$4.52
+6.6% 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
4,871
4,544
4,256
+7.2%
Operating income
2,385
2,189
2,006
+9.0%
Operating margin
49.0%
48.2%
47.1%
Interest expense
993
1,082
1,068
-8.3%
Income tax
28.1
39.5
15.7
-29.0%
Net income
1,405
1,316
1,431
+6.8%
Net margin
28.9%
29.0%
33.6%
Diluted EPS
$4.52
$4.24
$4.72
+6.6%
$ 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
2,730
2,701
2,513
+1.1%
Capital expenditure
797
841
802
-5.3%
Free cash flow
1,934
1,860
1,711
+4.0%
Free cash flow margin
39.7%
40.9%
40.2%
Cash from investing
-897
-948
-3,581
Cash from financing
-2,938
-1,221
1,453
Depreciation and amortisation
1,144
1,108
1,068
+3.3%
Dividends paid
1,604
1,446
1,245
+10.9%
Dividend per share
$5.15
$4.65
$4.10
+10.8%
Diluted shares, weighted
311m
310m
303m
+0.2%
Shares outstanding at period end
n/a
n/a
8,000
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,093
5,849
5,911
-12.9%
Non-controlling interest
858
973
982
-11.8%
Redeemable equity
25.5
n/a
n/a
Debt
20,844
23,563
23,051
-11.5%
Other liabilities
2,711
2,939
2,643
-7.7%
Total liabilities and equity
29,532
33,325
32,587
-11.4%
Goodwill
20.1
20.1
20.1
0.0%
Securities held for sale or to maturity
112
94.7
119
+18.1%
Cash and equivalents
612
1,691
1,185
-63.8%
Other assets
28,788
31,519
31,263
-8.7%
Total assets
29,532
33,325
32,587
-11.4%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.