Wynn Resorts (WYNN) FY2014 results: revenue $5.4 billion, down 3.3% on the year
Wynn Resorts Ltd. (WYNN) reported revenue of $5.4 billion for fiscal 2014, the year ended 31 December 2014, down 3.3% on the year before. Net income was $732 million, up 0.4%, and diluted earnings per share $7.18. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$5.4 billion
-3.3% on the year
FY2008FY2014
Operating margin
23.3%
23.0% a year earlier
FY2008FY2014
Net income
$732 million
+0.4% on the year
FY2008FY2014
Diluted EPS
$7.18
+0.1% 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
5,434
5,621
5,154
-3.3%
Selling, general and administrative
492
449
442
+9.7%
Operating income
1,266
1,290
1,029
-1.8%
Operating margin
23.3%
23.0%
20.0%
Interest expense
315
299
289
+5.4%
Pre-tax income
959
987
733
-2.8%
Income tax
-3.8
-17.6
4.3
Effective tax rate
-0.4%
-1.8%
0.6%
Net income
732
729
502
+0.4%
Net margin
13.5%
13.0%
9.7%
Diluted EPS
$7.18
$7.17
$4.82
+0.1%
$ 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
1,098
1,677
1,186
-34.5%
Capital expenditure
1,221
515
241
+137.2%
Free cash flow
-123
1,162
945
Free cash flow margin
-2.3%
20.7%
18.3%
Cash from investing
-1,114
-678
-345
Cash from financing
-236
-291
-382
Depreciation and amortisation
314
371
373
-15.3%
Share-based compensation
39.2
39.5
19.6
-1.0%
Buybacks
2.1
15.5
0.9
-86.7%
Dividends paid
943
1,035
955
-8.9%
Dividend per share
n/a
$3.00
$9.50
Diluted shares, weighted
102m
102m
104m
+0.3%
Shares outstanding at period end
101m
101m
101m
+0.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
-28.8
-185
-259
Non-controlling interest
240
317
363
-24.3%
Debt
7,345
6,588
5,783
+11.5%
Other liabilities
1,507
2,282
1,390
-34.0%
Total liabilities and equity
9,063
9,002
7,277
+0.7%
Fixed assets
5,856
4,934
4,728
+18.7%
Intangible assets
112
30.8
31.3
+265.2%
Investments
250
254
139
-1.6%
Cash and equivalents
2,182
2,080
2,182
+4.9%
Receivables
238
242
239
-1.6%
Inventory
72.2
74.7
63.8
-3.4%
Other assets
352
1,386
n/a
-74.6%
Total assets
9,063
9,002
7,277
+0.7%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.