Keurig Dr Pepper (KDP) FY2016 results: revenue $6.4 billion, up 2.5% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $6.4 billion for fiscal 2016, the year ended 31 December 2016, up 2.5% on the year before. Net income was $847 million, up 10.9%, and diluted earnings per share $4.54. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2017.
Revenue
$6.4 billion
+2.5% on the year
FY2009FY2016
Operating margin
22.3%
20.7% a year earlier
FY2009FY2016
Net income
$847 million
+10.9% on the year
FY2009FY2016
Diluted EPS
$4.54
+14.4% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
6,440
6,282
6,121
+2.5%
Cost of revenue
2,582
2,559
2,491
+0.9%
Gross profit
3,858
3,723
3,630
+3.6%
Gross margin
59.9%
59.3%
59.3%
Research and development
20.0
19.0
18.0
+5.3%
Selling, general and administrative
2,329
2,313
2,334
+0.7%
Operating income
1,433
1,298
1,180
+10.4%
Operating margin
22.3%
20.7%
19.3%
Interest expense
147
117
109
+25.6%
Pre-tax income
1,283
1,184
1,073
+8.4%
Income tax
434
420
371
+3.3%
Effective tax rate
33.8%
35.5%
34.6%
Net income
847
764
703
+10.9%
Net margin
13.2%
12.2%
11.5%
Diluted EPS
$4.54
$3.97
$3.56
+14.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
961
1,014
1,022
-5.2%
Capital expenditure
180
179
170
+0.6%
Free cash flow
781
835
852
-6.5%
Free cash flow margin
12.1%
13.3%
13.9%
Cash from investing
-189
-194
-185
Cash from financing
108
-137
-747
Depreciation and amortisation
99.0
105
115
-5.7%
Share-based compensation
45.0
44.0
48.0
+2.3%
Buybacks
519
521
400
-0.4%
Dividends paid
386
355
317
+8.7%
Dividend per share
$2.12
$1.92
$1.64
+10.4%
Diluted shares, weighted
187m
192m
197m
-3.0%
Shares outstanding at period end
183m
188m
193m
-2.5%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
2,134
2,183
2,294
-2.2%
Redeemable equity
143
n/a
n/a
Debt
4,478
3,382
2,583
+32.4%
Other liabilities
3,036
3,304
3,396
-8.1%
Total liabilities and equity
9,791
8,869
8,273
+10.4%
Fixed assets
1,138
1,156
1,141
-1.6%
Goodwill
2,993
2,988
2,990
+0.2%
Intangible assets
2,656
2,663
2,684
-0.3%
Investments
35.0
25.0
25.0
+40.0%
Cash and equivalents
1,787
911
237
+96.2%
Receivables
595
570
556
+4.4%
Inventory
202
209
204
-3.3%
Other assets
385
347
436
+11.0%
Total assets
9,791
8,869
8,273
+10.4%
10-K for the year ended 31 December 2016, filed 14 February 2017: the filing.