Xylem (XYL) FY2014 results: revenue $3.9 billion, up 2.1% on the year
Xylem Inc. (XYL) reported revenue of $3.9 billion for fiscal 2014, the year ended 31 December 2014, up 2.1% on the year before. Net income was $337 million, up 47.8%, and diluted earnings per share $1.83. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$3.9 billion
+2.1% on the year
FY2009FY2014
Operating margin
11.8%
9.5% a year earlier
FY2009FY2014
Net income
$337 million
+47.8% on the year
FY2009FY2014
Diluted EPS
$1.83
+50.0% on the year
FY2009FY2014
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
3,916
3,837
3,791
+2.1%
Cost of revenue
2,403
2,338
2,289
+2.8%
Gross profit
1,513
1,499
1,502
+0.9%
Gross margin
38.6%
39.1%
39.6%
Research and development
104
104
106
0.0%
Selling, general and administrative
920
990
914
-7.1%
Operating income
463
363
443
+27.5%
Operating margin
11.8%
9.5%
11.7%
Interest expense
54.0
55.0
55.0
-1.8%
Pre-tax income
421
298
388
+41.3%
Income tax
84.0
70.0
91.0
+20.0%
Effective tax rate
20.0%
23.5%
23.5%
Net income
337
228
297
+47.8%
Net margin
8.6%
5.9%
7.8%
Diluted EPS
$1.83
$1.22
$1.59
+50.0%
$ 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
416
324
396
+28.4%
Capital expenditure
119
126
112
-5.6%
Free cash flow
297
198
284
+50.0%
Free cash flow margin
7.6%
5.2%
7.5%
Cash from investing
-86.0
-199
-147
Cash from financing
-147
-100
-74.0
Depreciation and amortisation
142
150
142
-5.3%
Share-based compensation
18.0
27.0
22.0
-33.3%
Buybacks
134
73.0
13.0
+83.6%
Dividends paid
94.0
87.0
75.0
+8.0%
Dividend per share
$0.01
$0.47
$0.40
-98.9%
Diluted shares, weighted
184m
186m
186m
-1.0%
Shares outstanding at period end
182m
185m
186m
-1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,127
2,241
2,074
-5.1%
Debt
1,284
1,241
1,205
+3.5%
Other liabilities
1,422
1,375
1,400
+3.4%
Total liabilities and equity
4,833
4,857
4,679
-0.5%
Fixed assets
461
488
487
-5.5%
Goodwill
1,635
1,718
1,647
-4.8%
Intangible assets
470
488
484
-3.7%
Cash and equivalents
663
533
504
+24.4%
Receivables
771
817
776
-5.6%
Inventory
486
475
443
+2.3%
Other assets
347
338
338
+2.7%
Total assets
4,833
4,857
4,679
-0.5%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.