TJX Companies (TJX) FY2014 results: revenue $27.4 billion, up 6.0% on the year
TJX Companies Inc. (TJX) reported revenue of $27.4 billion for fiscal 2014, the year ended 1 February 2014, up 6.0% on the year before. Net income was $2.1 billion, up 12.1%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2014.
Revenue
$27.4 billion
+6.0% on the year
FY2008FY2014
Operating margin
13.4%
13.3% a year earlier
FY2008FY2014
Net income
$2.1 billion
+12.1% on the year
FY2008FY2014
Diluted EPS
$1.47
+15.3% on the year
FY2008FY2014
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
27,423
25,878
23,191
+6.0%
Selling, general and administrative
4,467
4,250
3,890
+5.1%
Operating income
3,680
3,442
-16.6
+6.9%
Operating margin
13.4%
13.3%
-0.1%
Interest expense
57.1
48.6
49.3
+17.5%
Pre-tax income
3,319
3,077
2,411
+7.9%
Income tax
1,182
1,171
915
+1.0%
Effective tax rate
35.6%
38.0%
38.0%
Net income
2,137
1,907
1,496
+12.1%
Net margin
7.8%
7.4%
6.5%
Diluted EPS
$1.47
$1.27
$0.96
+15.3%
$ 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
2,590
3,046
1,916
-14.9%
Capital expenditure
947
978
803
-3.2%
Free cash flow
1,644
2,067
1,113
-20.5%
Free cash flow margin
6.0%
8.0%
4.8%
Cash from investing
-1,036
-1,277
-811
Cash from financing
-1,144
-1,476
-1,336
Depreciation and amortisation
549
509
486
+7.8%
Share-based compensation
76.1
64.4
64.2
+18.1%
Buybacks
1,471
1,345
1,321
+9.4%
Dividends paid
394
324
275
+21.6%
Dividend per share
$0.29
$0.23
$0.19
+26.1%
Diluted shares, weighted
1,453m
1,495m
1,548m
-2.8%
Shares outstanding at period end
1,410m
1,448m
1,493m
-2.6%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,230
3,666
3,209
+15.4%
Debt
1,270
775
774
+64.0%
Other liabilities
4,598
5,071
4,298
-9.3%
Total liabilities and equity
10,098
9,512
8,282
+6.2%
Fixed assets
3,595
3,223
2,706
+11.5%
Goodwill
169
170
72.2
-0.6%
Investments
295
236
94.7
+25.0%
Cash and equivalents
2,150
1,812
1,507
+18.6%
Receivables
210
223
204
-5.7%
Inventory
2,966
3,014
2,951
-1.6%
Other assets
713
834
746
-14.5%
Total assets
10,098
9,512
8,282
+6.2%
10-K for the year ended 1 February 2014, filed 1 April 2014: the filing.