Seagate Technology Holdings (STX) FY2014 results: revenue $13.7 billion, down 4.4% on the year
Seagate Technology Holdings plc (STX) reported revenue of $13.7 billion for fiscal 2014, the year ended 27 June 2014, down 4.4% on the year before. Net income was $1.6 billion, down 14.6%, and diluted earnings per share $4.52. The figures are the company's own, from the 10-K it filed with the SEC on 8 August 2014.
Revenue
$13.7 billion
-4.4% on the year
FY2009FY2014
Operating margin
12.9%
14.6% a year earlier
FY2009FY2014
Net income
$1.6 billion
-14.6% on the year
FY2009FY2014
Diluted EPS
$4.52
-6.0% on the year
FY2009FY2014
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
13,724
14,351
14,939
-4.4%
Cost of revenue
9,878
10,411
10,255
-5.1%
Gross profit
3,846
3,940
4,684
-2.4%
Gross margin
28.0%
27.5%
31.4%
Research and development
1,226
1,133
1,006
+8.2%
Selling, general and administrative
722
635
528
+13.7%
Operating income
1,776
2,091
3,108
-15.1%
Operating margin
12.9%
14.6%
20.8%
Interest expense
195
214
241
-8.9%
Pre-tax income
1,556
1,831
2,882
-15.0%
Income tax
-14.0
-7.0
20.0
Effective tax rate
-0.9%
-0.4%
0.7%
Net income
1,570
1,838
2,862
-14.6%
Net margin
11.4%
12.8%
19.2%
Diluted EPS
$4.52
$4.81
$6.49
-6.0%
$ 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
2,558
3,047
3,262
-16.0%
Capital expenditure
559
786
636
-28.9%
Free cash flow
1,999
2,261
2,626
-11.6%
Free cash flow margin
14.6%
15.8%
17.6%
Cash from investing
-322
-825
-1,114
Cash from financing
-1,311
-2,222
-3,118
Depreciation and amortisation
879
873
814
+0.7%
Share-based compensation
118
76.0
51.0
+55.3%
Buybacks
1,912
1,654
2,426
+15.6%
Dividends paid
557
518
372
+7.5%
Dividend per share
$1.67
$1.40
$0.86
+19.3%
Diluted shares, weighted
347m
382m
441m
-9.2%
Shares outstanding at period end
327m
359m
396m
-9.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,832
3,495
3,497
-19.0%
Non-controlling interest
0.0
11.0
0.0
Debt
3,920
2,777
2,869
+41.2%
Other liabilities
2,740
2,960
3,740
-7.4%
Total liabilities and equity
9,492
9,243
10,106
+2.7%
Fixed assets
2,136
2,269
2,284
-5.9%
Goodwill
537
476
463
+12.8%
Intangible assets
359
405
506
-11.4%
Investments
20.0
495
426
-96.0%
Trading assets
0.0
79.0
n/a
Cash and equivalents
2,634
1,708
1,707
+54.2%
Receivables
1,729
1,670
2,319
+3.5%
Inventory
985
854
909
+15.3%
Other assets
1,092
1,287
1,492
-15.2%
Total assets
9,492
9,243
10,106
+2.7%
10-K for the year ended 27 June 2014, filed 8 August 2014: the filing.