Weyerhaeuser (WY) FY2014 results: revenue $5.5 billion, down 24.3% on the year
Weyerhaeuser Co. (WY) reported revenue of $5.5 billion for fiscal 2014, the year ended 31 December 2014, down 24.3% on the year before. Net income was $1.8 billion, up 224.3%, and diluted earnings per share $3.18. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$5.5 billion
-24.3% on the year
FY2007FY2014
Operating margin
18.0%
8.7% a year earlier
FY2007FY2014
Net income
$1.8 billion
+224.3% on the year
FY2007FY2014
Diluted EPS
$3.18
+234.7% 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
5,489
7,254
5,989
-24.3%
Cost of revenue
4,183
5,716
4,993
-26.8%
Gross profit
1,306
1,538
996
-15.1%
Gross margin
23.8%
21.2%
16.6%
Research and development
20.0
33.0
32.0
-39.4%
Operating income
987
634
618
+55.7%
Operating margin
18.0%
8.7%
10.3%
Interest expense
338
369
344
-8.4%
Pre-tax income
687
320
322
+114.7%
Income tax
71.0
-171
10.0
Effective tax rate
10.3%
-53.4%
3.1%
Net income
1,826
563
385
+224.3%
Net margin
33.3%
7.8%
6.4%
Diluted EPS
$3.18
$0.95
$0.71
+234.7%
$ 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
1,109
1,004
581
+10.5%
Capital expenditure
354
261
256
+35.6%
Free cash flow
755
743
325
+1.6%
Free cash flow margin
13.8%
10.2%
5.4%
Cash from investing
361
-1,829
-192
Cash from financing
-725
762
-444
Depreciation and amortisation
338
458
444
-26.2%
Share-based compensation
40.0
42.0
37.0
-4.8%
Buybacks
203
0.0
0.0
Dividends paid
563
458
334
+22.9%
Dividend per share
$1.02
$0.81
$0.62
+25.9%
Diluted shares, weighted
561m
571m
542m
-1.8%
Shares outstanding at period end
524m
584m
542m
-10.1%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
5,304
6,795
4,070
-21.9%
Non-controlling interest
0.0
3.0
43.0
Debt
5,402
5,409
4,963
-0.1%
Other liabilities
2,897
2,165
3,516
+33.8%
Total liabilities and equity
13,603
14,372
12,592
-5.4%
Fixed assets
2,623
2,689
2,872
-2.5%
Goodwill
40.0
42.0
40.0
-4.8%
Cash and equivalents
1,580
822
898
+92.2%
Receivables
525
518
523
+1.4%
Inventory
595
542
531
+9.8%
Other assets
8,240
9,759
7,728
-15.6%
Total assets
13,603
14,372
12,592
-5.4%
10-K for the year ended 31 December 2014, filed 13 February 2015: the filing.