United Parcel Service (UPS) FY2014 results: revenue $58.2 billion, up 5.0% on the year
United Parcel Service Inc. (UPS) reported revenue of $58.2 billion for fiscal 2014, the year ended 31 December 2014, up 5.0% on the year before. Net income was $3.0 billion, down 30.6%, and diluted earnings per share $3.28. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$58.2 billion
+5.0% on the year
FY2007FY2014
Operating margin
8.5%
12.7% a year earlier
FY2007FY2014
Net income
$3.0 billion
-30.6% on the year
FY2007FY2014
Diluted EPS
$3.28
-28.9% 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
58,232
55,438
54,127
+5.0%
Operating income
4,968
7,034
1,343
-29.4%
Operating margin
8.5%
12.7%
2.5%
Interest expense
353
380
393
-7.1%
Pre-tax income
4,637
6,674
974
-30.5%
Income tax
1,605
2,302
167
-30.3%
Effective tax rate
34.6%
34.5%
17.1%
Net income
3,032
4,372
807
-30.6%
Net margin
5.2%
7.9%
1.5%
Diluted EPS
$3.28
$4.61
$0.83
-28.9%
$ 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
5,726
7,304
7,216
-21.6%
Capital expenditure
2,328
2,065
2,153
+12.7%
Free cash flow
3,398
5,239
5,063
-35.1%
Free cash flow margin
5.8%
9.5%
9.4%
Cash from investing
-2,801
-2,114
-1,335
Cash from financing
-5,161
-7,807
-1,817
Depreciation and amortisation
1,923
1,867
1,858
+3.0%
Share-based compensation
536
513
547
+4.5%
Buybacks
2,695
3,838
1,621
-29.8%
Dividends paid
2,366
2,260
2,130
+4.7%
Diluted shares, weighted
924m
948m
969m
-2.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,141
6,474
4,653
-66.9%
Non-controlling interest
17.0
14.0
80.0
+21.4%
Debt
10,779
10,279
12,870
+4.9%
Other liabilities
22,534
18,786
21,260
+20.0%
Total liabilities and equity
35,471
35,553
38,863
-0.2%
Fixed assets
18,281
17,961
17,894
+1.8%
Goodwill
2,184
2,190
2,173
-0.3%
Intangible assets
847
775
603
+9.3%
Investments
992
580
597
+71.0%
Trading assets
430
0.0
n/a
Cash and equivalents
2,291
4,665
7,327
-50.9%
Receivables
6,661
6,502
6,111
+2.4%
Inventory
344
403
393
-14.6%
Other assets
3,441
2,477
3,765
+38.9%
Total assets
35,471
35,553
38,863
-0.2%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.