Telephone & Data Systems (TDS) FY2015 results: revenue $5.2 billion, up 4.0% on the year
Telephone & Data Systems Inc. (TDS) reported revenue of $5.2 billion for fiscal 2015, the year ended 31 December 2015, up 4.0% on the year before. Net income was $219 million, and diluted earnings per share $1.98. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2016.
Revenue
$5.2 billion
+4.0% on the year
FY2008FY2015
Operating margin
8.3%
-3.6% a year earlier
FY2008FY2015
Net income
$219 million
FY2008FY2015
Diluted EPS
$1.98
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
5,210
5,009
4,901
+4.0%
Cost of revenue
2,415
2,511
2,225
-3.8%
Gross profit
2,795
2,498
2,676
+11.9%
Gross margin
53.6%
49.9%
54.6%
Selling, general and administrative
1,780
1,866
1,948
-4.6%
Operating income
431
-181
235
Operating margin
8.3%
-3.6%
4.8%
Interest expense
142
111
98.8
+27.7%
Pre-tax income
435
-152
293
Income tax
172
-5.0
126
Effective tax rate
39.6%
n/a
43.0%
Net income
219
-136
142
Net margin
4.2%
-2.7%
2.9%
Diluted EPS
$1.98
-$1.26
$1.29
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
790
395
495
+100.0%
Capital expenditure
801
799
884
+0.1%
Free cash flow
-10.6
-404
-389
Free cash flow margin
-0.2%
-8.1%
-7.9%
Cash from investing
-743
n/a
n/a
Cash from financing
461
n/a
n/a
Depreciation and amortisation
810
798
984
+1.6%
Share-based compensation
40.0
36.0
30.3
+11.1%
Buybacks
0.0
39.0
9.7
Dividends paid
61.0
n/a
55.2
Dividend per share
$0.56
$0.54
$0.51
+3.7%
Diluted shares, weighted
110m
108m
109m
+1.3%
Shares outstanding at period end
109m
108m
109m
+1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,126
3,926
4,118
+5.1%
Non-controlling interest
578
528
551
+9.4%
Redeemable equity
4.2
3.0
8.2
+40.0%
Debt
2,454
1,941
1,720
+26.4%
Other liabilities
2,261
2,456
2,463
-7.9%
Total liabilities and equity
9,422
8,854
8,861
+6.4%
Fixed assets
3,764
3,846
3,878
-2.1%
Goodwill
766
771
837
-0.7%
Intangible assets
47.0
64.5
71.5
-27.1%
Investments
n/a
2,856
2,758
Cash and equivalents
985
472
830
+108.7%
Receivables
705
549
552
+28.6%
Inventory
158
274
245
-42.2%
Other assets
2,997
21.9
n/a
+13,574.4%
Total assets
9,422
8,854
8,861
+6.4%
10-K for the year ended 31 December 2015, filed 24 February 2016: the filing.