S&P Global (SPGI) FY2014 results: revenue $5.1 billion, up 7.4% on the year
S&P Global Inc. (SPGI) reported revenue of $5.1 billion for fiscal 2014, the year ended 31 December 2014, up 7.4% on the year before. Net income was -$115 million, and diluted earnings per share $-0.42. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$5.1 billion
+7.4% on the year
FY2007FY2014
Operating margin
2.2%
28.9% a year earlier
FY2007FY2014
Net income
-$115 million
FY2007FY2014
Diluted EPS
-$0.42
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
5,051
4,702
4,270
+7.4%
Cost of revenue
1,651
1,564
1,433
+5.6%
Gross profit
3,400
3,138
2,837
+8.3%
Gross margin
67.3%
66.7%
66.4%
Selling, general and administrative
3,144
1,631
1,578
+92.8%
Operating income
113
1,358
1,170
-91.7%
Operating margin
2.2%
28.9%
27.4%
Interest expense
59.0
59.0
81.0
0.0%
Pre-tax income
54.0
1,299
1,089
-95.8%
Income tax
245
425
388
-42.4%
Effective tax rate
453.7%
32.7%
35.6%
Net income
-115
1,376
437
Net margin
-2.3%
29.3%
10.2%
Diluted EPS
-$0.42
$4.91
$1.53
$ 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
1,209
782
730
+54.6%
Capital expenditure
92.0
117
96.0
-21.4%
Free cash flow
1,117
665
634
+68.0%
Free cash flow margin
22.1%
14.1%
14.8%
Cash from investing
-65.0
-130
-246
Cash from financing
-462
-1,743
-905
Depreciation and amortisation
134
137
141
-2.2%
Share-based compensation
100
96.0
90.0
+4.2%
Buybacks
362
978
295
-63.0%
Dividends paid
326
308
984
+5.8%
Dividend per share
$1.20
$1.12
$1.02
+7.1%
Diluted shares, weighted
272m
280m
285m
-3.0%
Shares outstanding at period end
272m
270m
n/a
+0.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
488
1,301
767
-62.5%
Non-controlling interest
51.0
43.0
73.0
+18.6%
Redeemable equity
810
810
810
0.0%
Debt
799
799
1,256
0.0%
Other liabilities
4,623
3,108
4,146
+48.7%
Total liabilities and equity
6,771
6,061
7,052
+11.7%
Fixed assets
206
249
368
-17.3%
Goodwill
1,387
1,409
1,435
-1.6%
Intangible assets
1,004
1,033
1,081
-2.8%
Investments
3.0
18.0
1.0
-83.3%
Cash and equivalents
2,497
1,542
760
+61.9%
Receivables
932
949
954
-1.8%
Other assets
742
861
2,453
-13.8%
Total assets
6,771
6,061
7,052
+11.7%
10-K for the year ended 31 December 2014, filed 13 February 2015: the filing.