Williams Companies (WMB) FY2014 results: revenue $7.6 billion, up 11.3% on the year
Williams Companies, Inc. (WMB) reported revenue of $7.6 billion for fiscal 2014, the year ended 31 December 2014, up 11.3% on the year before. Net income was $2.1 billion, up 391.6%, and diluted earnings per share $2.92. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$7.6 billion
+11.3% on the year
FY2007FY2014
Operating margin
20.5%
20.0% a year earlier
FY2007FY2014
Net income
$2.1 billion
+391.6% on the year
FY2007FY2014
Diluted EPS
$2.92
+371.0% 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
7,637
6,860
7,486
+11.3%
Cost of revenue
n/a
n/a
3,496
Gross profit
n/a
n/a
3,990
Gross margin
n/a
n/a
53.3%
Selling, general and administrative
661
512
571
+29.1%
Operating income
1,569
1,375
1,612
+14.1%
Operating margin
20.5%
20.0%
21.5%
Interest expense
747
510
n/a
+46.5%
Pre-tax income
3,584
1,080
1,289
+231.9%
Income tax
1,249
401
360
+211.5%
Effective tax rate
34.8%
37.1%
27.9%
Net income
2,114
430
859
+391.6%
Net margin
27.7%
6.3%
11.5%
Diluted EPS
$2.92
$0.62
$1.37
+371.0%
$ 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
2,134
2,217
1,835
-3.7%
Capital expenditure
4,031
3,572
2,529
+12.8%
Free cash flow
-1,897
-1,355
-694
Free cash flow margin
-24.8%
-19.8%
-9.3%
Cash from investing
-10,157
-4,052
-6,921
Cash from financing
7,582
1,677
5,036
+352.1%
Depreciation and amortisation
1,176
815
756
+44.3%
Share-based compensation
53.0
37.0
36.0
+43.2%
Dividends paid
1,412
982
742
+43.8%
Dividend per share
$1.96
$1.44
$1.20
+36.2%
Diluted shares, weighted
724m
687m
625m
+5.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
8,777
4,864
4,752
+80.4%
Non-controlling interest
11,395
4,057
2,675
+180.9%
Debt
21,582
11,579
10,735
+86.4%
Other liabilities
8,701
6,642
6,165
+31.0%
Total liabilities and equity
50,455
27,142
24,327
+85.9%
Fixed assets
28,081
18,210
15,467
+54.2%
Goodwill
1,120
646
649
+73.4%
Intangible assets
10,453
1,644
1,704
+535.8%
Investments
n/a
n/a
3,987
Cash and equivalents
240
681
839
-64.8%
Receivables
1,139
674
688
+69.0%
Inventory
231
194
175
+19.1%
Other assets
9,191
5,093
818
+80.5%
Total assets
50,455
27,142
24,327
+85.9%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.