Dentsply Sirona (XRAY) FY2014 results: revenue $2.9 billion, down 1.0% on the year
Dentsply Sirona Inc. (XRAY) reported revenue of $2.9 billion for fiscal 2014, the year ended 31 December 2014, down 1.0% on the year before. Net income was $323 million, up 3.1%, and diluted earnings per share $2.24. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$2.9 billion
-1.0% on the year
FY2007FY2014
Operating margin
15.2%
14.2% a year earlier
FY2007FY2014
Net income
$323 million
+3.1% on the year
FY2007FY2014
Diluted EPS
$2.24
+3.7% 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
2,923
2,951
2,928
-1.0%
Cost of revenue
1,323
1,373
1,372
-3.7%
Gross profit
1,600
1,577
1,556
+1.4%
Gross margin
54.7%
53.5%
53.1%
Research and development
80.8
85.1
85.4
-5.1%
Selling, general and administrative
1,143
1,145
1,149
-0.2%
Operating income
446
419
382
+6.3%
Operating margin
15.2%
14.2%
13.0%
Interest expense
46.9
49.6
56.9
-5.5%
Pre-tax income
404
369
331
+9.5%
Income tax
81.1
52.1
8.9
+55.6%
Effective tax rate
20.1%
14.1%
2.7%
Net income
323
313
314
+3.1%
Net margin
11.0%
10.6%
10.7%
Diluted EPS
$2.24
$2.16
$2.18
+3.7%
$ 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
560
418
370
+34.1%
Capital expenditure
99.6
100
92.1
-0.8%
Free cash flow
461
318
278
+45.1%
Free cash flow margin
15.8%
10.8%
9.5%
Cash from investing
-139
-260
-115
Cash from financing
-336
-162
-256
Depreciation and amortisation
129
128
129
+0.9%
Share-based compensation
25.4
25.1
22.2
+1.3%
Buybacks
163
118
38.8
+38.3%
Dividends paid
37.3
34.8
31.4
+7.2%
Dividend per share
$0.27
$0.25
$0.22
+6.0%
Diluted shares, weighted
144m
145m
144m
-0.5%
Shares outstanding at period end
141m
142m
142m
-0.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,321
2,535
2,209
-8.4%
Non-controlling interest
0.9
42.9
40.7
-97.9%
Debt
1,263
1,476
1,521
-14.5%
Other liabilities
1,065
1,024
1,202
+4.0%
Total liabilities and equity
4,650
5,078
4,972
-8.4%
Fixed assets
589
637
615
-7.6%
Goodwill
2,089
2,282
2,211
-8.4%
Intangible assets
671
795
831
-15.7%
Cash and equivalents
152
75.0
80.1
+102.3%
Inventory
387
439
403
-11.7%
Other assets
763
850
833
-10.3%
Total assets
4,650
5,078
4,972
-8.4%
10-K for the year ended 31 December 2014, filed 20 February 2015: the filing.