Tyson Foods (TSN) FY2014 results: revenue $37.6 billion, up 9.3% on the year
Tyson Foods, Inc. (TSN) reported revenue of $37.6 billion for fiscal 2014, the year ended 27 September 2014, up 9.3% on the year before. Net income was $864 million, up 11.1%, and diluted earnings per share $2.37. The figures are the company's own, from the 10-K it filed with the SEC on 17 November 2014.
Revenue
$37.6 billion
+9.3% on the year
FY2008FY2014
Operating margin
3.8%
4.0% a year earlier
FY2008FY2014
Net income
$864 million
+11.1% on the year
FY2008FY2014
Diluted EPS
$2.37
+11.8% 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
37,580
34,374
33,055
+9.3%
Cost of revenue
34,895
32,016
30,865
+9.0%
Gross profit
2,685
2,358
2,190
+13.9%
Gross margin
7.1%
6.9%
6.6%
Research and development
52.0
50.0
43.0
+4.0%
Selling, general and administrative
1,255
983
904
+27.7%
Operating income
1,430
1,375
1,286
+4.0%
Operating margin
3.8%
4.0%
3.9%
Pre-tax income
1,252
1,257
965
-0.4%
Income tax
396
409
351
-3.2%
Effective tax rate
31.6%
32.5%
36.4%
Net income
864
778
583
+11.1%
Net margin
2.3%
2.3%
1.8%
Diluted EPS
$2.37
$2.12
$1.58
+11.8%
$ 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
1,178
1,314
1,187
-10.4%
Capital expenditure
632
558
690
+13.3%
Free cash flow
546
756
497
-27.8%
Free cash flow margin
1.5%
2.2%
1.5%
Cash from investing
-8,800
-643
-660
Cash from financing
6,915
-600
-171
Depreciation and amortisation
520
491
459
+5.9%
Share-based compensation
51.0
36.0
n/a
+41.7%
Buybacks
295
614
264
-52.0%
Dividends paid
104
104
57.0
0.0%
Diluted shares, weighted
364m
367m
370m
-0.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,890
6,201
6,012
+43.4%
Non-controlling interest
14.0
32.0
30.0
-56.2%
Debt
8,178
2,408
2,432
+239.6%
Other liabilities
6,824
3,536
3,422
+93.0%
Total liabilities and equity
23,906
12,177
11,896
+96.3%
Fixed assets
5,130
4,053
4,022
+26.6%
Goodwill
6,706
1,902
1,891
+252.6%
Intangible assets
5,276
138
129
+3,723.2%
Cash and equivalents
438
1,145
1,071
-61.7%
Receivables
1,684
1,497
1,378
+12.5%
Inventory
3,274
2,817
2,809
+16.2%
Other assets
1,398
625
596
+123.7%
Total assets
23,906
12,177
11,896
+96.3%
10-K for the year ended 27 September 2014, filed 17 November 2014: the filing.