Kraft Heinz (KHC) FY2017 results: revenue $26.1 billion, down 0.9% on the year
Kraft Heinz Co. (KHC) reported revenue of $26.1 billion for fiscal 2017, the year ended 30 December 2017, down 0.9% on the year before. Net income was $10.9 billion, up 204.3%, and diluted earnings per share $8.91. The figures are the company's own, from the 10-K it filed with the SEC on 7 June 2019.
Revenue
$26.1 billion
-0.9% on the year
FY2012FY2017
Operating margin
23.2%
21.3% a year earlier
FY2012FY2017
Net income
$10.9 billion
+204.3% on the year
FY2012FY2017
Diluted EPS
$8.91
+220.5% on the year
FY2012FY2017
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
26,076
26,300
18,338
-0.9%
Cost of revenue
17,043
17,154
12,577
-0.6%
Gross profit
9,033
9,146
5,761
-1.2%
Gross margin
34.6%
34.8%
31.4%
Research and development
93.0
120
105
-22.5%
Selling, general and administrative
2,976
3,545
3,122
-16.1%
Operating income
6,057
5,601
2,639
+8.1%
Operating margin
23.2%
21.3%
14.4%
Interest expense
1,234
1,134
1,321
+8.8%
Pre-tax income
5,450
4,939
1,013
+10.3%
Income tax
-5,482
1,333
366
Effective tax rate
-100.6%
27.0%
36.1%
Net income
10,941
3,596
634
+204.3%
Net margin
42.0%
13.7%
3.5%
Diluted EPS
$8.91
$2.78
-$0.34
+220.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
501
2,648
1,272
-81.1%
Capital expenditure
1,194
1,247
648
-4.3%
Free cash flow
-693
1,401
624
Free cash flow margin
-2.7%
5.3%
3.4%
Cash from investing
1,177
1,452
-8,309
-18.9%
Cash from financing
-4,226
-4,621
10,047
Depreciation and amortisation
1,031
1,337
740
-22.9%
Share-based compensation
46.0
46.0
133
0.0%
Dividends paid
2,888
3,584
1,302
-19.4%
Dividend per share
$2.45
$2.35
$1.70
+4.3%
Diluted shares, weighted
1,228m
1,226m
786m
+0.2%
Shares outstanding at period end
1,219m
1,216m
1,214m
+0.2%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
65,863
57,358
57,685
+14.8%
Non-controlling interest
207
216
208
-4.2%
Redeemable equity
6.0
0.0
8,320
Short-term borrowings
462
645
4.0
-28.4%
Debt
28,333
29,713
25,151
-4.6%
Other liabilities
25,361
32,548
31,605
-22.1%
Total liabilities and equity
120,232
120,480
122,973
-0.2%
Fixed assets
7,061
6,688
6,524
+5.6%
Goodwill
44,824
44,125
43,051
+1.6%
Intangible assets
59,449
59,297
62,120
+0.3%
Cash and equivalents
1,629
4,204
4,837
-61.3%
Receivables
921
769
871
+19.8%
Inventory
2,760
2,684
2,618
+2.8%
Other assets
3,588
2,713
2,952
+32.3%
Total assets
120,232
120,480
122,973
-0.2%
10-K for the year ended 30 December 2017, filed 7 June 2019: the filing.