Keurig Dr Pepper (KDP) FY2015 results: revenue $6.3 billion, up 2.6% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $6.3 billion for fiscal 2015, the year ended 31 December 2015, up 2.6% on the year before. Net income was $764 million, up 8.7%, and diluted earnings per share $3.97. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2016.
Revenue
$6.3 billion
+2.6% on the year
FY2008FY2015
Operating margin
20.7%
19.3% a year earlier
FY2008FY2015
Net income
$764 million
+8.7% on the year
FY2008FY2015
Diluted EPS
$3.97
+11.5% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
6,282
6,121
5,997
+2.6%
Cost of revenue
2,559
2,491
2,499
+2.7%
Gross profit
3,723
3,630
3,498
+2.6%
Gross margin
59.3%
59.3%
58.3%
Research and development
19.0
18.0
21.0
+5.6%
Selling, general and administrative
2,313
2,334
2,272
-0.9%
Operating income
1,298
1,180
1,046
+10.0%
Operating margin
20.7%
19.3%
17.4%
Interest expense
117
109
123
+7.3%
Pre-tax income
1,184
1,073
542
+10.3%
Income tax
420
371
-81.0
+13.2%
Effective tax rate
35.5%
34.6%
-14.9%
Net income
764
703
624
+8.7%
Net margin
12.2%
11.5%
10.4%
Diluted EPS
$3.97
$3.56
$3.05
+11.5%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,014
1,022
866
-0.8%
Capital expenditure
179
170
179
+5.3%
Free cash flow
835
852
687
-2.0%
Free cash flow margin
13.3%
13.9%
11.5%
Cash from investing
-194
-185
-195
Cash from financing
-137
-747
-880
Depreciation and amortisation
105
115
115
-8.7%
Share-based compensation
44.0
48.0
37.0
-8.3%
Buybacks
521
400
400
+30.2%
Dividends paid
355
317
302
+12.0%
Dividend per share
$1.92
$1.64
$1.52
+17.1%
Diluted shares, weighted
192m
197m
204m
-2.5%
Shares outstanding at period end
188m
193m
198m
-2.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
2,183
2,294
2,277
-4.8%
Debt
3,382
2,583
2,574
+30.9%
Other liabilities
3,304
3,396
3,350
-2.7%
Total liabilities and equity
8,869
8,273
8,201
+7.2%
Fixed assets
1,156
1,141
1,173
+1.3%
Goodwill
2,988
2,990
2,988
-0.1%
Intangible assets
2,663
2,684
2,694
-0.8%
Investments
25.0
25.0
21.0
0.0%
Cash and equivalents
911
237
153
+284.4%
Receivables
570
556
564
+2.5%
Inventory
209
204
200
+2.5%
Other assets
347
436
408
-20.4%
Total assets
8,869
8,273
8,201
+7.2%
10-K for the year ended 31 December 2015, filed 23 February 2016: the filing.