TE Connectivity (TEL) FY2015 results: revenue $12.2 billion, up 2.2% on the year
TE Connectivity plc (TEL) reported revenue of $12.2 billion for fiscal 2015, the year ended 25 September 2015, up 2.2% on the year before. Net income was $2.4 billion, up 35.9%, and diluted earnings per share $5.89. The figures are the company's own, from the 10-K it filed with the SEC on 10 November 2015.
Revenue
$12.2 billion
+2.2% on the year
FY2008FY2015
Operating margin
14.3%
15.1% a year earlier
FY2008FY2015
Net income
$2.4 billion
+35.9% on the year
FY2008FY2015
Diluted EPS
$5.89
+37.9% on the year
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
12,233
11,973
11,390
+2.2%
Cost of revenue
8,146
8,001
7,739
+1.8%
Gross profit
4,087
3,972
3,651
+2.9%
Gross margin
33.4%
33.2%
32.1%
Research and development
540
484
494
+11.6%
Selling, general and administrative
1,504
1,534
1,440
-2.0%
Operating income
1,749
1,805
1,385
-3.1%
Operating margin
14.3%
15.1%
12.2%
Interest expense
136
127
139
+7.1%
Pre-tax income
1,575
1,760
1,080
-10.5%
Income tax
337
146
-75.0
+130.8%
Effective tax rate
21.4%
8.3%
-6.9%
Net income
2,420
1,781
1,276
+35.9%
Net margin
19.8%
14.9%
11.2%
Diluted EPS
$5.89
$4.27
$3.02
+37.9%
$ 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
1,930
2,083
2,046
-7.3%
Capital expenditure
600
635
581
-5.5%
Free cash flow
1,330
1,448
1,465
-8.1%
Free cash flow margin
10.9%
12.1%
12.9%
Cash from investing
636
-1,075
-545
Cash from financing
-1,623
65.0
-1,678
Depreciation and amortisation
616
551
536
+11.8%
Share-based compensation
89.0
77.0
71.0
+15.6%
Buybacks
1,023
578
844
+77.0%
Dividends paid
502
443
384
+13.3%
Dividend per share
$1.24
$1.08
$0.92
+14.8%
Diluted shares, weighted
411m
417m
423m
-1.4%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
9,585
9,007
8,380
+6.4%
Non-controlling interest
n/a
6.0
6.0
Debt
3,884
3,858
3,014
+0.7%
Other liabilities
7,139
7,281
7,061
-2.0%
Total liabilities and equity
20,608
20,152
18,461
+2.3%
Fixed assets
2,920
2,920
2,951
0.0%
Goodwill
4,824
3,726
3,452
+29.5%
Intangible assets
1,555
1,087
1,244
+43.1%
Cash and equivalents
3,329
2,457
1,403
+35.5%
Receivables
2,120
2,057
2,323
+3.1%
Inventory
1,615
1,509
1,762
+7.0%
Other assets
4,245
6,396
5,326
-33.6%
Total assets
20,608
20,152
18,461
+2.3%
10-K for the year ended 25 September 2015, filed 10 November 2015: the filing.