Kraft Heinz (KHC) FY2018 results: revenue $26.3 billion, up 0.7% on the year
Kraft Heinz Co. (KHC) reported revenue of $26.3 billion for fiscal 2018, the year ended 29 December 2018, up 0.7% on the year before. Net income was -$10.2 billion, and diluted earnings per share $-8.36. The figures are the company's own, from the 10-K it filed with the SEC on 7 June 2019.
Revenue
$26.3 billion
+0.7% on the year
FY2012FY2018
Operating margin
-38.9%
23.2% a year earlier
FY2012FY2018
Net income
-$10.2 billion
FY2012FY2018
Diluted EPS
-$8.36
FY2012FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
26,268
26,076
26,300
+0.7%
Cost of revenue
17,347
17,043
17,154
+1.8%
Gross profit
8,921
9,033
9,146
-1.2%
Gross margin
34.0%
34.6%
34.8%
Research and development
109
93.0
120
+17.2%
Selling, general and administrative
19,141
2,976
3,545
+543.2%
Operating income
-10,220
6,057
5,601
Operating margin
-38.9%
23.2%
21.3%
Interest expense
1,284
1,234
1,134
+4.1%
Pre-tax income
-11,321
5,450
4,939
Income tax
-1,067
-5,482
1,333
Effective tax rate
n/a
-100.6%
27.0%
Net income
-10,192
10,941
3,596
Net margin
-38.8%
42.0%
13.7%
Diluted EPS
-$8.36
$8.91
$2.78
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,574
501
2,648
+413.8%
Capital expenditure
826
1,194
1,247
-30.8%
Free cash flow
1,748
-693
1,401
Free cash flow margin
6.7%
-2.7%
5.3%
Cash from investing
288
1,177
1,452
-75.5%
Cash from financing
-3,363
-4,226
-4,621
Depreciation and amortisation
983
1,031
1,337
-4.7%
Share-based compensation
33.0
46.0
46.0
-28.3%
Dividends paid
3,183
2,888
3,584
+10.2%
Dividend per share
$2.50
$2.45
$2.35
+2.0%
Diluted shares, weighted
1,219m
1,228m
1,226m
-0.7%
Shares outstanding at period end
1,220m
1,219m
1,216m
+0.1%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
51,657
65,863
57,358
-21.6%
Non-controlling interest
118
207
216
-43.0%
Redeemable equity
3.0
6.0
0.0
-50.0%
Short-term borrowings
21.0
462
645
-95.5%
Debt
30,770
28,333
29,713
+8.6%
Other liabilities
20,892
25,361
32,548
-17.6%
Total liabilities and equity
103,461
120,232
120,480
-13.9%
Fixed assets
7,078
7,061
6,688
+0.2%
Goodwill
36,503
44,824
44,125
-18.6%
Intangible assets
49,468
59,449
59,297
-16.8%
Cash and equivalents
1,130
1,629
4,204
-30.6%
Receivables
2,129
921
769
+131.2%
Inventory
2,667
2,760
2,684
-3.4%
Other assets
4,486
3,588
2,713
+25.0%
Total assets
103,461
120,232
120,480
-13.9%
10-K for the year ended 29 December 2018, filed 7 June 2019: the filing.