Williams Sonoma (WSM) FY2014 results: revenue $4.7 billion, up 7.1% on the year
Williams Sonoma Inc. (WSM) reported revenue of $4.7 billion for fiscal 2014, the year ended 1 February 2015, up 7.1% on the year before. Net income was $309 million, up 10.7%, and diluted earnings per share $1.62. The figures are the company's own, from the 10-K it filed with the SEC on 2 April 2015.
Revenue
$4.7 billion
+7.1% on the year
FY2008FY2014
Operating margin
10.7%
10.3% a year earlier
FY2008FY2014
Net income
$309 million
+10.7% on the year
FY2008FY2014
Diluted EPS
$1.62
+14.9% 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
4,699
4,388
4,043
+7.1%
Gross profit
1,801
1,704
1,592
+5.6%
Gross margin
38.3%
38.8%
39.4%
Selling, general and administrative
1,298
1,252
1,183
+3.7%
Operating income
502
452
409
+11.1%
Operating margin
10.7%
10.3%
10.1%
Pre-tax income
502
453
410
+10.9%
Income tax
193
174
153
+11.3%
Effective tax rate
38.5%
38.4%
37.4%
Net income
309
279
257
+10.7%
Net margin
6.6%
6.4%
6.4%
Diluted EPS
$1.62
$1.41
$1.27
+14.9%
$ 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
462
454
364
+1.7%
Capital expenditure
205
194
205
+5.6%
Free cash flow
257
260
159
-1.1%
Free cash flow margin
5.5%
5.9%
3.9%
Cash from investing
n/a
-191
-207
Cash from financing
n/a
-355
-236
Depreciation and amortisation
162
150
134
+8.3%
Share-based compensation
44.6
38.8
31.0
+15.1%
Buybacks
224
239
155
-6.2%
Dividends paid
126
112
87.8
+12.7%
Dividend per share
$0.66
$0.62
$0.44
+6.5%
Diluted shares, weighted
190m
198m
202m
-3.6%
Shares outstanding at period end
184m
188m
195m
-2.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,225
1,256
1,309
-2.5%
Debt
2.0
3.8
5.5
-47.6%
Other liabilities
1,104
1,077
873
+2.5%
Total liabilities and equity
2,330
2,337
2,188
-0.3%
Fixed assets
883
849
812
+4.0%
Goodwill
18.7
18.9
19.0
-1.1%
Cash and equivalents
223
330
425
-32.5%
Receivables
67.5
60.3
63.0
+11.8%
Inventory
888
813
640
+9.2%
Other assets
250
265
229
-5.5%
Total assets
2,330
2,337
2,188
-0.3%
10-K for the year ended 1 February 2015, filed 2 April 2015: the filing.