Vulcan Materials (VMC) FY2014 results: revenue $3.0 billion, up 8.1% on the year
Vulcan Materials Co. (VMC) reported revenue of $3.0 billion for fiscal 2014, the year ended 31 December 2014, up 8.1% on the year before. Net income was $205 million, up 740.5%, and diluted earnings per share $1.54. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$3.0 billion
+8.1% on the year
FY2007FY2014
Operating margin
18.0%
6.9% a year earlier
FY2007FY2014
Net income
$205 million
+740.5% on the year
FY2007FY2014
Diluted EPS
$1.54
+710.5% 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
2,994
2,771
2,567
+8.1%
Cost of revenue
2,407
2,344
2,233
+2.7%
Gross profit
588
427
334
+37.6%
Gross margin
19.6%
15.4%
13.0%
Research and development
n/a
0.0
0.0
Selling, general and administrative
272
259
259
+5.0%
Operating income
538
190
84.8
+182.6%
Operating margin
18.0%
6.9%
3.3%
Interest expense
243
203
213
+20.1%
Pre-tax income
299
-3.7
-120
Income tax
91.7
-24.5
-66.5
Effective tax rate
30.7%
n/a
n/a
Net income
205
24.4
-52.6
+740.5%
Net margin
6.8%
0.9%
-2.0%
Diluted EPS
$1.54
$0.19
-$0.41
+710.5%
$ 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
261
356
238
-26.8%
Capital expenditure
225
275
93.4
-18.3%
Free cash flow
36.2
81.1
145
-55.4%
Free cash flow margin
1.2%
2.9%
5.7%
Cash from investing
238
-296
10.4
Cash from financing
-551
-142
-129
Depreciation and amortisation
279
307
332
-9.0%
Share-based compensation
23.9
22.1
17.5
+8.1%
Buybacks
0.0
0.0
n/a
Dividends paid
28.9
5.2
5.2
+456.4%
Dividend per share
$0.22
$0.04
$0.04
+450.0%
Diluted shares, weighted
133m
131m
130m
+1.2%
Shares outstanding at period end
132m
n/a
n/a
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
4,177
3,938
3,761
+6.1%
Short-term borrowings
n/a
0.0
0.0
Debt
1,985
2,522
2,677
-21.3%
Other liabilities
1,880
1,773
1,689
+6.0%
Total liabilities and equity
8,041
8,233
8,127
-2.3%
Fixed assets
3,072
3,312
3,159
-7.3%
Goodwill
3,095
3,082
3,087
+0.4%
Intangible assets
758
698
693
+8.7%
Cash and equivalents
141
194
275
-27.1%
Receivables
355
323
278
+9.8%
Inventory
322
345
335
-6.6%
Other assets
298
280
300
+6.5%
Total assets
8,041
8,233
8,127
-2.3%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.