Ziff Davis (ZD) FY2014 results: revenue $599 million, up 15.0% on the year
Ziff Davis, Inc. (ZD) reported revenue of $599 million for fiscal 2014, the year ended 31 December 2014, up 15.0% on the year before. Net income was $124 million, up 15.6%, and diluted earnings per share $2.58. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$599 million
+15.0% on the year
FY2008FY2014
Operating margin
31.1%
33.7% a year earlier
FY2008FY2014
Net income
$124 million
+15.6% on the year
FY2008FY2014
Diluted EPS
$2.58
+13.2% 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
599
521
371
+15.0%
Gross profit
493
434
304
+13.6%
Gross margin
82.3%
83.3%
82.0%
Research and development
30.7
25.5
18.6
+20.4%
Operating income
186
175
162
+6.1%
Operating margin
31.1%
33.7%
43.7%
Interest expense
32.5
22.3
9.0
+45.7%
Pre-tax income
155
143
155
+8.7%
Income tax
29.8
35.2
33.3
-15.2%
Effective tax rate
19.2%
24.7%
21.5%
Net income
124
108
122
+15.6%
Net margin
20.8%
20.6%
32.7%
Diluted EPS
$2.58
$2.28
$2.61
+13.2%
$ 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
177
193
170
-8.3%
Capital expenditure
11.8
18.6
5.1
-36.5%
Free cash flow
165
175
165
-5.3%
Free cash flow margin
27.6%
33.5%
44.4%
Cash from investing
-275
-167
-249
Cash from financing
328
-35.7
158
Depreciation and amortisation
63.0
39.8
22.2
+58.2%
Share-based compensation
8.9
9.7
9.1
-8.4%
Buybacks
5.7
4.6
60.3
+23.5%
Dividends paid
52.3
45.1
40.3
+15.8%
Dividend per share
$1.10
$0.98
$0.87
+12.2%
Diluted shares, weighted
47m
46m
46m
+2.1%
Shares outstanding at period end
47m
46m
45m
+2.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
820
706
595
+16.1%
Non-controlling interest
0.0
0.0
-0.1
Debt
593
246
245
+141.5%
Other liabilities
292
202
155
+44.6%
Total liabilities and equity
1,705
1,154
995
+47.8%
Fixed assets
38.2
31.2
19.6
+22.5%
Goodwill
636
457
408
+39.0%
Intangible assets
279
191
133
+46.3%
Investments
157
138
125
+13.4%
Trading assets
n/a
0.0
0.0
Cash and equivalents
434
208
219
+108.7%
Receivables
91.7
67.2
37.3
+36.4%
Other assets
70.2
61.3
54.4
+14.7%
Total assets
1,705
1,154
995
+47.8%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.