TripAdvisor (TRIP) FY2014 results: revenue $1.2 billion, up 31.9% on the year
TripAdvisor, Inc. (TRIP) reported revenue of $1.2 billion for fiscal 2014, the year ended 31 December 2014, up 31.9% on the year before. Net income was $226 million, up 10.2%, and diluted earnings per share $1.55. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$1.2 billion
+31.9% on the year
FY2009FY2014
Operating margin
27.3%
31.2% a year earlier
FY2009FY2014
Net income
$226 million
+10.2% on the year
FY2009FY2014
Diluted EPS
$1.55
+9.9% on the year
FY2009FY2014
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
1,246
945
763
+31.9%
Cost of revenue
n/a
n/a
12.1
Gross profit
n/a
n/a
751
Gross margin
n/a
n/a
98.4%
Operating income
340
295
296
+15.4%
Operating margin
27.3%
31.2%
38.8%
Interest expense
9.0
10.0
11.0
-10.0%
Pre-tax income
322
284
282
+13.4%
Income tax
96.0
79.0
87.0
+21.5%
Effective tax rate
29.8%
27.8%
30.9%
Net income
226
205
194
+10.2%
Net margin
18.1%
21.7%
25.4%
Diluted EPS
$1.55
$1.41
$1.37
+9.9%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
n/a
350
239
Capital expenditure
81.0
55.0
29.0
+47.3%
Free cash flow
n/a
295
210
Free cash flow margin
n/a
31.2%
27.5%
Cash from investing
n/a
-197
-244
Cash from financing
n/a
-170
190
Depreciation and amortisation
65.0
36.0
26.0
+80.6%
Share-based compensation
63.0
49.0
30.0
+28.7%
Buybacks
n/a
145
n/a
Dividend per share
$0.00
$0.00
$0.00
Diluted shares, weighted
146m
145m
141m
+0.4%
Shares outstanding at period end
130m
129m
130m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,125
864
727
+30.1%
Redeemable equity
n/a
n/a
0.0
Debt
337
368
412
-8.4%
Other liabilities
486
241
160
+102.1%
Total liabilities and equity
1,948
1,473
1,299
+32.2%
Fixed assets
195
82.0
43.8
+137.8%
Goodwill
734
502
472
+46.2%
Intangible assets
214
52.0
38.2
+311.5%
Investments
139
320
218
-56.5%
Cash and equivalents
455
351
368
+29.6%
Receivables
151
113
81.5
+33.6%
Other assets
60.0
53.3
78.3
+12.5%
Total assets
1,948
1,473
1,299
+32.2%
10-K for the year ended 31 December 2014, filed 17 February 2015: the filing.