Waste Management (WM) FY2014 results: revenue $14.0 billion, up 0.1% on the year
Waste Management Inc. (WM) reported revenue of $14.0 billion for fiscal 2014, the year ended 31 December 2014, up 0.1% on the year before. Net income was $1.3 billion, up 1224.5%, and diluted earnings per share $2.79. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2015.
Revenue
$14.0 billion
+0.1% on the year
FY2007FY2014
Operating margin
16.4%
7.7% a year earlier
FY2007FY2014
Net income
$1.3 billion
+1,224.5% on the year
FY2007FY2014
Diluted EPS
$2.79
+1,228.6% 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
13,996
13,983
13,649
+0.1%
Cost of revenue
9,002
9,112
8,879
-1.2%
Gross profit
4,994
4,871
4,770
+2.5%
Gross margin
35.7%
34.8%
34.9%
Selling, general and administrative
1,481
1,468
1,472
+0.9%
Operating income
2,299
1,079
1,851
+113.1%
Operating margin
16.4%
7.7%
13.6%
Interest expense
466
500
509
-6.8%
Pre-tax income
1,751
494
1,303
+254.5%
Income tax
413
364
443
+13.5%
Effective tax rate
23.6%
73.7%
34.0%
Net income
1,298
98.0
817
+1,224.5%
Net margin
9.3%
0.7%
6.0%
Diluted EPS
$2.79
$0.21
$1.76
+1,228.6%
$ 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
2,331
2,455
2,295
-5.1%
Capital expenditure
1,181
1,267
1,510
-6.8%
Free cash flow
1,150
1,188
785
-3.2%
Free cash flow margin
8.2%
8.5%
5.8%
Cash from investing
n/a
-1,900
-1,830
Cash from financing
n/a
-687
-530
Depreciation and amortisation
1,292
1,333
1,297
-3.1%
Share-based compensation
65.0
58.0
29.0
+12.1%
Buybacks
600
239
n/a
+151.0%
Dividends paid
693
683
658
+1.5%
Dividend per share
$1.50
$1.46
$1.42
+2.7%
Diluted shares, weighted
466m
470m
464m
-0.9%
Shares outstanding at period end
458m
464m
464m
-1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,866
5,707
6,354
+2.8%
Non-controlling interest
23.0
295
321
-92.2%
Debt
9,435
10,226
9,916
-7.7%
Other liabilities
5,928
6,262
6,506
-5.3%
Total liabilities and equity
21,252
22,490
23,097
-5.5%
Fixed assets
10,657
12,344
12,651
-13.7%
Goodwill
5,740
6,070
6,291
-5.4%
Intangible assets
440
529
397
-16.8%
Investments
n/a
177
n/a
Cash and equivalents
1,307
58.0
194
+2,153.4%
Receivables
1,587
1,699
1,737
-6.6%
Other assets
1,521
1,613
1,827
-5.7%
Total assets
21,252
22,490
23,097
-5.5%
10-K for the year ended 31 December 2014, filed 17 February 2015: the filing.