Kraft Heinz (KHC) FY2016 results: revenue $26.3 billion, up 43.4% on the year
Kraft Heinz Co. (KHC) reported revenue of $26.3 billion for fiscal 2016, the year ended 31 December 2016, up 43.4% on the year before. Net income was $3.6 billion, up 467.2%, and diluted earnings per share $2.78. The figures are the company's own, from the 10-K it filed with the SEC on 7 June 2019.
Revenue
$26.3 billion
+43.4% on the year
FY2012FY2016
Operating margin
21.3%
14.4% a year earlier
FY2012FY2016
Net income
$3.6 billion
+467.2% on the year
FY2012FY2016
Diluted EPS
$2.78
FY2012FY2016
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
26,300
18,338
18,205
+43.4%
Cost of revenue
17,154
12,577
13,360
+36.4%
Gross profit
9,146
5,761
4,845
+58.8%
Gross margin
34.8%
31.4%
26.6%
Research and development
120
105
149
+14.3%
Selling, general and administrative
3,545
3,122
2,956
+13.5%
Operating income
5,601
2,639
1,890
+112.2%
Operating margin
21.3%
14.4%
10.4%
Interest expense
1,134
1,321
n/a
-14.2%
Pre-tax income
4,939
1,013
1,406
+387.6%
Income tax
1,333
366
363
+264.2%
Effective tax rate
27.0%
36.1%
25.8%
Net income
3,596
634
1,043
+467.2%
Net margin
13.7%
3.5%
5.7%
Diluted EPS
$2.78
-$0.34
$1.74
$ 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
2,648
1,272
2,020
+108.2%
Capital expenditure
1,247
648
535
+92.4%
Free cash flow
1,401
624
1,485
+124.5%
Free cash flow margin
5.3%
3.4%
8.2%
Cash from investing
1,452
-8,309
-535
Cash from financing
-4,621
10,047
-1,866
Depreciation and amortisation
1,337
740
385
+80.7%
Share-based compensation
46.0
133
95.0
-65.4%
Buybacks
n/a
n/a
740
Dividends paid
3,584
1,302
1,266
+175.3%
Dividend per share
$2.35
$1.70
$2.15
+38.2%
Diluted shares, weighted
1,226m
786m
598m
+56.0%
Shares outstanding at period end
1,216m
1,214m
587m
+0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
57,358
57,685
4,365
-0.6%
Non-controlling interest
216
208
n/a
+3.8%
Redeemable equity
0.0
8,320
n/a
Short-term borrowings
645
4.0
n/a
+16,025.0%
Debt
29,713
25,151
8,627
+18.1%
Other liabilities
32,548
31,605
9,955
+3.0%
Total liabilities and equity
120,480
122,973
22,947
-2.0%
Fixed assets
6,688
6,524
4,192
+2.5%
Goodwill
44,125
43,051
11,404
+2.5%
Intangible assets
59,297
62,120
2,234
-4.5%
Cash and equivalents
4,204
4,837
1,293
-13.1%
Receivables
769
871
1,080
-11.7%
Inventory
2,684
2,618
1,775
+2.5%
Other assets
2,713
2,952
969
-8.1%
Total assets
120,480
122,973
22,947
-2.0%
10-K for the year ended 31 December 2016, filed 7 June 2019: the filing.