Coca-Cola (KO) FY2011 results: revenue $46.5 billion, up 32.5% on the year
Coca-Cola Co. (KO) reported revenue of $46.5 billion for fiscal 2011, the year ended 31 December 2011, up 32.5% on the year before. Net income was $8.6 billion, down 27.4%, and diluted earnings per share $1.84. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$46.5 billion
+32.5% on the year
FY2007FY2011
Operating margin
21.8%
24.0% a year earlier
FY2007FY2011
Net income
$8.6 billion
-27.4% on the year
FY2007FY2011
Diluted EPS
$1.84
-27.1% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
46,542
35,119
30,990
+32.5%
Cost of revenue
18,216
12,693
11,088
+43.5%
Gross profit
28,326
22,426
19,902
+26.3%
Gross margin
60.9%
63.9%
64.2%
Selling, general and administrative
17,440
13,194
11,358
+32.2%
Operating income
10,154
8,413
8,231
+20.7%
Operating margin
21.8%
24.0%
26.6%
Interest expense
417
733
355
-43.1%
Pre-tax income
11,439
14,207
8,946
-19.5%
Income tax
2,812
2,370
2,040
+18.6%
Effective tax rate
24.6%
16.7%
22.8%
Net income
8,572
11,809
6,824
-27.4%
Net margin
18.4%
33.6%
22.0%
Diluted EPS
$1.84
$2.53
$1.47
-27.1%
$ 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
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
9,474
9,532
8,186
-0.6%
Capital expenditure
2,920
2,215
1,993
+31.8%
Free cash flow
6,554
7,317
6,193
-10.4%
Free cash flow margin
14.1%
20.8%
20.0%
Cash from investing
-2,524
-4,405
-4,149
Cash from financing
-2,234
-3,465
-2,293
Depreciation and amortisation
1,954
1,443
1,236
+35.4%
Share-based compensation
354
380
241
-6.8%
Buybacks
4,513
2,961
1,518
+52.4%
Dividends paid
4,300
4,068
3,800
+5.7%
Dividend per share
$0.94
$0.88
$0.82
+6.8%
Diluted shares, weighted
4,646m
4,666m
4,658m
-0.4%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
31,635
31,003
24,799
+2.0%
Non-controlling interest
286
314
547
-8.9%
Debt
28,568
23,417
5,110
+22.0%
Other liabilities
19,485
18,187
18,215
+7.1%
Total liabilities and equity
79,974
72,921
48,671
+9.7%
Fixed assets
14,939
14,727
9,561
+1.4%
Goodwill
12,219
11,665
4,224
+4.7%
Intangible assets
1,137
1,264
344
-10.0%
Investments
144
138
62.0
+4.3%
Trading assets
211
209
61.0
+1.0%
Cash and equivalents
12,803
8,517
7,021
+50.3%
Receivables
4,920
4,430
3,758
+11.1%
Inventory
3,092
2,650
2,354
+16.7%
Other assets
30,509
29,321
21,286
+4.1%
Total assets
79,974
72,921
48,671
+9.7%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.