Western Union (WU) FY2014 results: revenue $5.6 billion, up 1.2% on the year
Western Union Co. (WU) reported revenue of $5.6 billion for fiscal 2014, the year ended 31 December 2014, up 1.2% on the year before. Net income was $852 million, up 6.8%, and diluted earnings per share $1.59. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$5.6 billion
+1.2% on the year
FY2007FY2014
Operating margin
20.3%
20.0% a year earlier
FY2007FY2014
Net income
$852 million
+6.8% on the year
FY2007FY2014
Diluted EPS
$1.59
+11.2% 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
5,607
5,542
5,665
+1.2%
Cost of revenue
3,297
3,235
3,194
+1.9%
Gross profit
2,310
2,307
2,471
+0.1%
Gross margin
41.2%
41.6%
43.6%
Selling, general and administrative
1,169
1,200
1,141
-2.5%
Operating income
1,140
1,107
1,330
+3.0%
Operating margin
20.3%
20.0%
23.5%
Interest expense
177
196
180
-9.7%
Pre-tax income
968
927
1,169
+4.5%
Income tax
116
128
143
-9.9%
Effective tax rate
12.0%
13.9%
12.2%
Net income
852
798
1,026
+6.8%
Net margin
15.2%
14.4%
18.1%
Diluted EPS
$1.59
$1.43
$1.69
+11.2%
$ 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
1,046
1,089
1,185
-3.9%
Capital expenditure
67.8
80.2
60.9
-15.5%
Free cash flow
978
1,008
1,124
-3.0%
Free cash flow margin
17.4%
18.2%
19.8%
Cash from investing
-89.4
-341
-258
Cash from financing
-1,246
-451
-522
Depreciation and amortisation
272
263
246
+3.5%
Share-based compensation
39.7
34.5
34.0
+15.1%
Buybacks
495
400
766
+23.9%
Dividends paid
265
277
254
-4.3%
Dividend per share
$0.50
$0.50
$0.42
0.0%
Diluted shares, weighted
537m
560m
607m
-4.1%
Shares outstanding at period end
522m
549m
572m
-5.0%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,300
1,105
941
+17.7%
Debt
3,720
4,213
4,029
-11.7%
Other liabilities
4,870
4,804
4,496
+1.4%
Total liabilities and equity
9,890
10,121
9,466
-2.3%
Fixed assets
206
210
196
-1.7%
Goodwill
3,169
3,172
3,180
-0.1%
Intangible assets
748
834
879
-10.3%
Securities held for sale or to maturity
n/a
n/a
1,515
Cash and equivalents
1,783
2,073
1,776
-14.0%
Other assets
3,984
3,832
1,920
+3.9%
Total assets
9,890
10,121
9,466
-2.3%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.