Truist Financial (TFC) FY2014 results: revenue $9.2 billion, down 4.4% on the year
Truist Financial Corp. (TFC) reported revenue of $9.2 billion for fiscal 2014, the year ended 31 December 2014, down 4.4% on the year before. Net income was $2.0 billion, up 27.0%, and diluted earnings per share $2.72. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$9.2 billion
-4.4% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$2.0 billion
+27.0% on the year
FY2007FY2014
Diluted EPS
$2.72
+24.2% 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
9,230
9,652
9,677
-4.4%
Interest expense
768
891
1,060
-13.8%
Pre-tax income
3,127
3,283
2,792
-4.8%
Income tax
921
1,553
764
-40.7%
Effective tax rate
29.5%
47.3%
27.4%
Net income
1,983
1,562
1,916
+27.0%
Net margin
21.5%
16.2%
19.8%
Diluted EPS
$2.72
$2.19
$2.70
+24.2%
$ 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
3,210
5,308
3,714
-39.5%
Capital expenditure
n/a
n/a
145
Free cash flow
n/a
n/a
3,569
Cash from investing
-4,015
-4,209
-7,047
Cash from financing
965
-1,973
2,796
Share-based compensation
102
96.0
97.0
+6.2%
Dividends paid
666
765
531
-12.9%
Dividend per share
$0.95
$0.92
$0.80
+3.3%
Diluted shares, weighted
728m
714m
709m
+2.0%
Shares outstanding at period end
721m
707m
700m
+2.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
24,377
22,809
21,223
+6.9%
Deposits
129,040
127,475
133,075
+1.2%
Debt
27,029
25,631
21,978
+5.5%
Other liabilities
6,368
7,095
8,223
-10.2%
Total liabilities and equity
186,814
183,010
184,499
+2.1%
Fixed assets
1,827
1,869
1,888
-2.2%
Goodwill
6,869
6,814
6,804
+0.8%
Intangible assets
505
569
673
-11.2%
Securities held for sale or to maturity
41,147
18,101
13,594
+127.3%
Loans
118,410
114,185
112,585
+3.7%
Resale agreements
157
148
122
+6.1%
Trading assets
482
381
497
+26.5%
Cash and equivalents
2,325
2,165
3,039
+7.4%
Other assets
15,092
38,778
45,297
-61.1%
Total assets
186,814
183,010
184,499
+2.1%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.