Keurig Dr Pepper (KDP) FY2014 results: revenue $6.1 billion, up 2.1% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $6.1 billion for fiscal 2014, the year ended 31 December 2014, up 2.1% on the year before. Net income was $703 million, up 12.7%, and diluted earnings per share $3.56. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2015.
Revenue
$6.1 billion
+2.1% on the year
FY2008FY2014
Operating margin
19.3%
17.4% a year earlier
FY2008FY2014
Net income
$703 million
+12.7% on the year
FY2008FY2014
Diluted EPS
$3.56
+16.7% 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
6,121
5,997
5,995
+2.1%
Cost of revenue
2,491
2,499
2,500
-0.3%
Gross profit
3,630
3,498
3,495
+3.8%
Gross margin
59.3%
58.3%
58.3%
Research and development
18.0
21.0
21.0
-14.3%
Selling, general and administrative
2,334
2,272
2,268
+2.7%
Operating income
1,180
1,046
1,092
+12.8%
Operating margin
19.3%
17.4%
18.2%
Interest expense
109
123
125
-11.4%
Pre-tax income
1,073
542
978
+98.0%
Income tax
371
-81.0
349
Effective tax rate
34.6%
-14.9%
35.7%
Net income
703
624
629
+12.7%
Net margin
11.5%
10.4%
10.5%
Diluted EPS
$3.56
$3.05
$2.96
+16.7%
$ 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
1,022
866
482
+18.0%
Capital expenditure
170
179
217
-5.0%
Free cash flow
852
687
265
+24.0%
Free cash flow margin
13.9%
11.5%
4.4%
Cash from investing
-185
-195
-217
Cash from financing
-747
-880
-603
Depreciation and amortisation
115
115
124
0.0%
Share-based compensation
48.0
37.0
35.0
+29.7%
Buybacks
400
400
400
0.0%
Dividends paid
317
302
284
+5.0%
Dividend per share
$1.64
$1.52
$1.36
+7.9%
Diluted shares, weighted
197m
204m
212m
-3.5%
Shares outstanding at period end
193m
198m
205m
-2.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,294
2,277
2,280
+0.7%
Debt
2,583
2,574
2,804
+0.3%
Other liabilities
3,396
3,350
3,844
+1.4%
Total liabilities and equity
8,273
8,201
8,928
+0.9%
Fixed assets
1,141
1,173
1,202
-2.7%
Goodwill
2,990
2,988
2,983
+0.1%
Intangible assets
2,684
2,694
2,684
-0.4%
Investments
25.0
21.0
0.0
+19.0%
Cash and equivalents
237
153
366
+54.9%
Receivables
556
564
552
-1.4%
Inventory
204
200
197
+2.0%
Other assets
436
408
944
+6.9%
Total assets
8,273
8,201
8,928
+0.9%
10-K for the year ended 31 December 2014, filed 19 February 2015: the filing.