NCR Voyix (VYX) FY2014 results: revenue $6.6 billion, up 7.6% on the year
NCR Voyix Corp. (VYX) reported revenue of $6.6 billion for fiscal 2014, the year ended 31 December 2014, up 7.6% on the year before. Net income was $191 million, down 56.9%, and diluted earnings per share $1.12. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2015.
Revenue
$6.6 billion
+7.6% on the year
FY2008FY2014
Operating margin
5.4%
10.9% a year earlier
FY2008FY2014
Net income
$191 million
-56.9% on the year
FY2008FY2014
Diluted EPS
$1.12
-57.3% 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
6,591
6,123
5,730
+7.6%
Cost of revenue
4,859
4,383
4,085
+10.9%
Gross profit
1,732
1,740
1,645
-0.5%
Gross margin
26.3%
28.4%
28.7%
Research and development
263
203
155
+29.6%
Selling, general and administrative
1,012
871
742
+16.2%
Operating income
353
666
748
-47.0%
Operating margin
5.4%
10.9%
13.1%
Interest expense
181
103
42.0
+75.7%
Pre-tax income
137
554
698
-75.3%
Income tax
-48.0
98.0
223
Effective tax rate
-35.0%
17.7%
31.9%
Net income
191
443
481
-56.9%
Net margin
2.9%
7.2%
8.4%
Diluted EPS
$1.12
$2.62
$2.94
-57.3%
$ 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
524
281
-180
+86.5%
Capital expenditure
118
116
80.0
+1.7%
Free cash flow
406
165
-260
+146.1%
Free cash flow margin
6.2%
2.7%
-4.5%
Cash from investing
-788
-2,105
-256
Cash from financing
284
1,357
1,131
-79.1%
Depreciation and amortisation
284
208
166
+36.5%
Share-based compensation
31.0
41.0
49.0
-24.4%
Buybacks
0.0
0.0
0.0
Diluted shares, weighted
171m
169m
164m
+1.1%
Shares outstanding at period end
169m
167m
163m
+1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,871
1,769
1,252
+5.8%
Non-controlling interest
12.0
14.0
30.0
-14.3%
Redeemable equity
0.0
14.0
15.0
Short-term borrowings
187
34.0
72.0
+450.0%
Debt
3,659
3,354
1,963
+9.1%
Other liabilities
2,837
2,923
3,039
-2.9%
Total liabilities and equity
8,566
8,108
6,371
+5.6%
Fixed assets
396
352
308
+12.5%
Goodwill
2,760
1,534
1,003
+79.9%
Intangible assets
926
494
304
+87.4%
Cash and equivalents
511
528
1,069
-3.2%
Receivables
1,404
1,339
1,086
+4.9%
Inventory
669
790
797
-15.3%
Other assets
1,900
3,071
1,804
-38.1%
Total assets
8,566
8,108
6,371
+5.6%
10-K for the year ended 31 December 2014, filed 27 February 2015: the filing.