Keurig Dr Pepper (KDP) FY2013 results: revenue $6.0 billion, unchanged on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $6.0 billion for fiscal 2013, the year ended 31 December 2013, unchanged on the year before. Net income was $624 million, down 0.8%, and diluted earnings per share $3.05. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$6.0 billion
+0.0% on the year
FY2008FY2013
Operating margin
17.4%
18.2% a year earlier
FY2008FY2013
Net income
$624 million
-0.8% on the year
FY2008FY2013
Diluted EPS
$3.05
+3.0% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
5,997
5,995
5,903
+0.0%
Cost of revenue
2,499
2,500
2,485
-0.0%
Gross profit
3,498
3,495
3,418
+0.1%
Gross margin
58.3%
58.3%
57.9%
Research and development
21.0
21.0
15.0
0.0%
Selling, general and administrative
2,272
2,268
2,257
+0.2%
Operating income
1,046
1,092
1,024
-4.2%
Operating margin
17.4%
18.2%
17.3%
Interest expense
123
125
114
-1.6%
Pre-tax income
542
978
925
-44.6%
Income tax
-81.0
349
320
Effective tax rate
-14.9%
35.7%
34.6%
Net income
624
629
606
-0.8%
Net margin
10.4%
10.5%
10.3%
Diluted EPS
$3.05
$2.96
$2.74
+3.0%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
866
482
783
+79.7%
Capital expenditure
179
217
238
-17.5%
Free cash flow
687
265
545
+159.2%
Free cash flow margin
11.5%
4.4%
9.2%
Cash from investing
-195
-217
-240
Cash from financing
-880
-603
-152
Depreciation and amortisation
115
124
126
-7.3%
Share-based compensation
37.0
35.0
34.0
+5.7%
Buybacks
400
400
522
0.0%
Dividends paid
302
284
251
+6.3%
Dividend per share
$1.52
$1.36
$1.21
+11.8%
Diluted shares, weighted
204m
212m
221m
-3.7%
Shares outstanding at period end
198m
205m
212m
-3.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,277
2,280
2,263
-0.1%
Debt
2,574
2,804
2,701
-8.2%
Other liabilities
3,350
3,844
4,319
-12.9%
Total liabilities and equity
8,201
8,928
9,283
-8.1%
Fixed assets
1,173
1,202
1,152
-2.4%
Goodwill
2,988
2,983
2,980
+0.2%
Intangible assets
2,694
2,684
2,677
+0.4%
Investments
21.0
0.0
n/a
Cash and equivalents
153
366
701
-58.2%
Receivables
564
552
585
+2.2%
Inventory
200
197
212
+1.5%
Other assets
408
944
976
-56.8%
Total assets
8,201
8,928
9,283
-8.1%
10-K for the year ended 31 December 2013, filed 20 February 2014: the filing.