Kraft Heinz (KHC) FY2023 results: revenue $26.6 billion, up 0.6% on the year
Kraft Heinz Co. (KHC) reported revenue of $26.6 billion for fiscal 2023, the year ended 30 December 2023, up 0.6% on the year before. Net income was $2.9 billion, up 20.8%, and diluted earnings per share $2.31. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$26.6 billion
+0.6% on the year
FY2016FY2023
Operating margin
17.2%
13.7% a year earlier
FY2016FY2023
Net income
$2.9 billion
+20.8% on the year
FY2016FY2023
Diluted EPS
$2.31
+20.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,976
2,469
5,364
+61.0%
Capital expenditure
1,013
916
905
+10.6%
Free cash flow
2,963
1,553
4,459
+90.8%
Free cash flow margin
11.1%
5.9%
17.1%
Cash from investing
-916
-1,091
4,038
Cash from financing
-2,678
-3,714
-9,344
Depreciation and amortisation
961
933
910
+3.0%
Share-based compensation
141
148
197
-4.7%
Buybacks
455
280
271
+62.5%
Dividends paid
1,965
1,960
1,959
+0.3%
Dividend per share
$1.60
$1.60
$1.60
0.0%
Diluted shares, weighted
1,235m
1,235m
1,236m
0.0%
Shares outstanding at period end
1,218m
1,225m
1,224m
-0.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
49,526
48,678
49,298
+1.7%
Non-controlling interest
162
152
150
+6.6%
Redeemable equity
34.0
40.0
4.0
-15.0%
Debt
20,032
20,070
21,815
-0.2%
Operating lease liabilities
501
585
484
-14.4%
Finance lease liabilities
118
93.0
98.0
+26.9%
Other liabilities
19,966
20,895
21,545
-4.4%
Total liabilities and equity
90,339
90,513
93,394
-0.2%
Goodwill
30,459
30,833
31,296
-1.2%
Intangible assets
42,448
42,649
43,542
-0.5%
Cash and equivalents
1,400
1,040
3,445
+34.6%
Receivables
2,112
2,120
1,957
-0.4%
Inventory
3,614
3,651
2,729
-1.0%
Other assets
10,306
10,220
10,425
+0.8%
Total assets
90,339
90,513
93,394
-0.2%
10-K for the year ended 30 December 2023, filed 15 February 2024: the filing.