Keurig Dr Pepper (KDP) FY2011 results: revenue $5.9 billion, up 4.7% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $5.9 billion for fiscal 2011, the year ended 31 December 2011, up 4.7% on the year before. Net income was $606 million, up 14.8%, and diluted earnings per share $2.74. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2012.
Revenue
$5.9 billion
+4.7% on the year
FY2008FY2011
Operating margin
17.3%
18.2% a year earlier
FY2008FY2011
Net income
$606 million
+14.8% on the year
FY2008FY2011
Diluted EPS
$2.74
+26.3% on the year
FY2008FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
5,903
5,636
5,531
+4.7%
Cost of revenue
2,485
2,243
2,234
+10.8%
Gross profit
3,418
3,393
3,297
+0.7%
Gross margin
57.9%
60.2%
59.6%
Research and development
15.0
16.0
15.0
-6.2%
Selling, general and administrative
2,257
2,233
2,135
+1.1%
Operating income
1,024
1,025
1,085
-0.1%
Operating margin
17.3%
18.2%
19.6%
Interest expense
114
128
243
-10.9%
Pre-tax income
925
821
868
+12.7%
Income tax
320
294
315
+8.8%
Effective tax rate
34.6%
35.8%
36.3%
Net income
606
528
555
+14.8%
Net margin
10.3%
9.4%
10.0%
Diluted EPS
$2.74
$2.17
$2.17
+26.3%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
783
2,535
865
-69.1%
Capital expenditure
238
246
317
-3.3%
Free cash flow
545
2,289
548
-76.2%
Free cash flow margin
9.2%
40.6%
9.9%
Cash from investing
-240
-225
-251
Cash from financing
-152
-2,280
-554
Depreciation and amortisation
126
127
117
-0.8%
Share-based compensation
34.0
29.0
19.0
+17.2%
Buybacks
522
1,113
0.0
-53.1%
Dividends paid
251
194
0.0
+29.4%
Dividend per share
$1.21
$0.90
$0.15
+34.4%
Diluted shares, weighted
221m
243m
255m
-8.8%
Shares outstanding at period end
212m
224m
254m
-5.3%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
2,263
2,459
3,187
-8.0%
Debt
2,701
2,081
2,947
+29.8%
Other liabilities
4,319
4,319
2,642
0.0%
Total liabilities and equity
9,283
8,859
8,776
+4.8%
Fixed assets
1,152
1,168
1,109
-1.4%
Goodwill
2,980
2,984
2,983
-0.1%
Intangible assets
2,677
2,691
2,702
-0.5%
Cash and equivalents
701
315
280
+122.5%
Receivables
585
536
540
+9.1%
Inventory
212
244
262
-13.1%
Other assets
976
921
900
+6.0%
Total assets
9,283
8,859
8,776
+4.8%
10-K for the year ended 31 December 2011, filed 22 February 2012: the filing.