TE Connectivity (TEL) FY2014 results: revenue $12.0 billion, up 5.1% on the year
TE Connectivity plc (TEL) reported revenue of $12.0 billion for fiscal 2014, the year ended 26 September 2014, up 5.1% on the year before. Net income was $1.8 billion, up 39.6%, and diluted earnings per share $4.27. The figures are the company's own, from the 10-K it filed with the SEC on 12 November 2014.
Revenue
$12.0 billion
+5.1% on the year
FY2007FY2014
Operating margin
15.1%
12.2% a year earlier
FY2007FY2014
Net income
$1.8 billion
+39.6% on the year
FY2007FY2014
Diluted EPS
$4.27
+41.4% 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
11,973
11,390
13,282
+5.1%
Cost of revenue
8,001
7,739
9,236
+3.4%
Gross profit
3,972
3,651
4,046
+8.8%
Gross margin
33.2%
32.1%
30.5%
Research and development
484
494
595
-2.0%
Selling, general and administrative
1,534
1,440
1,685
+6.5%
Operating income
1,805
1,385
1,518
+30.3%
Operating margin
15.1%
12.2%
11.4%
Interest expense
127
139
176
-8.6%
Pre-tax income
1,760
1,080
1,415
+63.0%
Income tax
146
-75.0
249
Effective tax rate
8.3%
-6.9%
17.6%
Net income
1,781
1,276
1,112
+39.6%
Net margin
14.9%
11.2%
8.4%
Diluted EPS
$4.27
$3.02
$2.59
+41.4%
$ 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
2,083
2,046
1,947
+1.8%
Capital expenditure
635
581
533
+9.3%
Free cash flow
1,448
1,465
1,414
-1.2%
Free cash flow margin
12.1%
12.9%
10.6%
Cash from investing
-1,075
-545
-1,510
Cash from financing
65.0
-1,678
-65.0
Depreciation and amortisation
551
536
609
+2.8%
Share-based compensation
77.0
71.0
68.0
+8.5%
Buybacks
578
844
185
-31.5%
Dividends paid
443
384
332
+15.4%
Dividend per share
$1.08
$0.92
$0.78
+17.4%
Diluted shares, weighted
417m
423m
430m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
9,007
8,380
7,971
+7.5%
Non-controlling interest
6.0
6.0
6.0
0.0%
Debt
3,858
3,014
3,711
+28.0%
Other liabilities
7,281
7,061
7,618
+3.1%
Total liabilities and equity
20,152
18,461
19,306
+9.2%
Fixed assets
2,920
2,951
3,213
-1.1%
Goodwill
3,726
3,452
4,308
+7.9%
Intangible assets
1,087
1,244
1,352
-12.6%
Cash and equivalents
2,457
1,403
1,589
+75.1%
Receivables
2,057
2,323
2,343
-11.5%
Inventory
1,509
1,762
1,808
-14.4%
Other assets
6,396
5,326
4,693
+20.1%
Total assets
20,152
18,461
19,306
+9.2%
10-K for the year ended 26 September 2014, filed 12 November 2014: the filing.