Keurig Dr Pepper (KDP) FY2017 results: revenue $6.7 billion, up 3.9% on the year
Keurig Dr Pepper Inc. (KDP) reported revenue of $6.7 billion for fiscal 2017, the year ended 31 December 2017, up 3.9% on the year before. Net income was $1.1 billion, up 27.0%, and diluted earnings per share $5.89. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2018.
Revenue
$6.7 billion
+3.9% on the year
FY2010FY2017
Operating margin
20.7%
22.3% a year earlier
FY2010FY2017
Net income
$1.1 billion
+27.0% on the year
FY2010FY2017
Diluted EPS
$5.89
+29.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
6,690
6,440
6,282
+3.9%
Cost of revenue
2,695
2,582
2,559
+4.4%
Gross profit
3,995
3,858
3,723
+3.6%
Gross margin
59.7%
59.9%
59.3%
Research and development
20.0
20.0
19.0
0.0%
Selling, general and administrative
2,556
2,329
2,313
+9.7%
Operating income
1,388
1,433
1,298
-3.1%
Operating margin
20.7%
22.3%
20.7%
Interest expense
164
147
117
+11.6%
Pre-tax income
1,173
1,283
1,184
-8.6%
Income tax
95.0
434
420
-78.1%
Effective tax rate
8.1%
33.8%
35.5%
Net income
1,076
847
764
+27.0%
Net margin
16.1%
13.2%
12.2%
Diluted EPS
$5.89
$4.54
$3.97
+29.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,038
961
1,014
+8.0%
Capital expenditure
202
180
179
+12.2%
Free cash flow
836
781
835
+7.0%
Free cash flow margin
12.5%
12.1%
13.3%
Cash from investing
-1,763
-189
-194
Cash from financing
-907
108
-137
Depreciation and amortisation
102
99.0
105
+3.0%
Share-based compensation
36.0
45.0
44.0
-20.0%
Buybacks
399
519
521
-23.1%
Dividends paid
414
386
355
+7.3%
Dividend per share
$2.32
$2.12
$1.92
+9.4%
Diluted shares, weighted
183m
187m
192m
-2.0%
Shares outstanding at period end
180m
183m
188m
-1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
7,398
2,134
2,183
+246.7%
Redeemable equity
265
143
n/a
+85.3%
Debt
3,283
4,478
3,382
-26.7%
Other liabilities
4,798
3,036
3,304
+58.0%
Total liabilities and equity
15,744
9,791
8,869
+60.8%
Fixed assets
790
1,138
1,156
-30.6%
Goodwill
9,819
2,993
2,988
+228.1%
Intangible assets
3,834
2,656
2,663
+44.4%
Investments
48.0
35.0
25.0
+37.1%
Cash and equivalents
90.0
1,787
911
-95.0%
Receivables
483
595
570
-18.8%
Inventory
384
202
209
+90.1%
Other assets
296
385
347
-23.1%
Total assets
15,744
9,791
8,869
+60.8%
10-K for the year ended 31 December 2017, filed 14 February 2018: the filing.