Keurig Dr Pepper (KDP) FY2012 results: revenue $6.0 billion, up 1.6% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $6.0 billion for fiscal 2012, the year ended 31 December 2012, up 1.6% on the year before. Net income was $629 million, up 3.8%, and diluted earnings per share $2.96. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$6.0 billion
+1.6% on the year
FY2008FY2012
Operating margin
18.2%
17.3% a year earlier
FY2008FY2012
Net income
$629 million
+3.8% on the year
FY2008FY2012
Diluted EPS
$2.96
+8.0% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
5,995
5,903
5,636
+1.6%
Cost of revenue
2,500
2,485
2,243
+0.6%
Gross profit
3,495
3,418
3,393
+2.3%
Gross margin
58.3%
57.9%
60.2%
Research and development
21.0
15.0
16.0
+40.0%
Selling, general and administrative
2,268
2,257
2,233
+0.5%
Operating income
1,092
1,024
1,025
+6.6%
Operating margin
18.2%
17.3%
18.2%
Interest expense
125
114
128
+9.6%
Pre-tax income
978
925
821
+5.7%
Income tax
349
320
294
+9.1%
Effective tax rate
35.7%
34.6%
35.8%
Net income
629
606
528
+3.8%
Net margin
10.5%
10.3%
9.4%
Diluted EPS
$2.96
$2.74
$2.17
+8.0%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
482
783
2,535
-38.4%
Capital expenditure
217
238
246
-8.8%
Free cash flow
265
545
2,289
-51.4%
Free cash flow margin
4.4%
9.2%
40.6%
Cash from investing
-217
-240
-225
Cash from financing
-603
-152
-2,280
Depreciation and amortisation
124
126
127
-1.6%
Share-based compensation
35.0
34.0
29.0
+2.9%
Buybacks
400
522
1,113
-23.4%
Dividends paid
284
251
194
+13.1%
Dividend per share
$1.36
$1.21
$0.90
+12.4%
Diluted shares, weighted
212m
221m
243m
-4.0%
Shares outstanding at period end
205m
212m
224m
-3.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,280
2,263
2,459
+0.8%
Debt
2,804
2,701
2,081
+3.8%
Other liabilities
3,844
4,319
4,319
-11.0%
Total liabilities and equity
8,928
9,283
8,859
-3.8%
Fixed assets
1,202
1,152
1,168
+4.3%
Goodwill
2,983
2,980
2,984
+0.1%
Intangible assets
2,684
2,677
2,691
+0.3%
Investments
0.0
n/a
n/a
Cash and equivalents
366
701
315
-47.8%
Receivables
552
585
536
-5.6%
Inventory
197
212
244
-7.1%
Other assets
944
976
921
-3.3%
Total assets
8,928
9,283
8,859
-3.8%
10-K for the year ended 31 December 2012, filed 21 February 2013: the filing.