Visa (V) FY2014 results: revenue $12.7 billion, up 7.8% on the year
Visa Inc. (V) reported revenue of $12.7 billion for fiscal 2014, the year ended 30 September 2014, up 7.8% on the year before. Net income was $5.4 billion, up 9.2%. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2014.
Revenue
$12.7 billion
+7.8% on the year
FY2007FY2014
Operating margin
60.6%
61.5% a year earlier
FY2007FY2014
Net income
$5.4 billion
+9.2% on the year
FY2007FY2014
Diluted EPS
n/a
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
12,702
11,778
10,421
+7.8%
Operating income
7,697
7,239
2,139
+6.3%
Operating margin
60.6%
61.5%
20.5%
Interest expense
n/a
n/a
-29.0
Income tax
2,286
2,277
65.0
+0.4%
Net income
5,438
4,980
2,144
+9.2%
Net margin
42.8%
42.3%
20.6%
$ 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
7,205
3,022
5,009
+138.4%
Capital expenditure
553
471
376
+17.4%
Free cash flow
6,652
2,551
4,633
+160.8%
Free cash flow margin
52.4%
21.7%
44.5%
Cash from investing
-941
-1,164
-2,414
Cash from financing
-6,478
-1,746
-2,655
Depreciation and amortisation
435
397
333
+9.6%
Share-based compensation
172
179
147
-3.9%
Buybacks
4,118
5,365
710
-23.2%
Dividends paid
1,006
864
595
+16.4%
Dividend per share
$0.40
$0.33
$0.22
+21.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
27,413
26,870
27,630
+2.0%
Debt
0.0
0.0
n/a
Other liabilities
11,156
9,086
12,383
+22.8%
Total liabilities and equity
38,569
35,956
40,013
+7.3%
Fixed assets
1,892
1,732
1,634
+9.2%
Goodwill
11,753
11,681
11,681
+0.6%
Intangible assets
11,411
11,351
11,420
+0.5%
Investments
4,925
4,754
3,960
+3.6%
Trading assets
69.0
75.0
n/a
-8.0%
Cash and equivalents
1,971
2,186
2,074
-9.8%
Receivables
822
761
723
+8.0%
Other assets
5,726
3,416
8,521
+67.6%
Total assets
38,569
35,956
40,013
+7.3%
10-K for the year ended 30 September 2014, filed 21 November 2014: the filing.