Coca-Cola (KO) FY2013 results: revenue $46.9 billion, down 2.4% on the year
Coca-Cola Co. (KO) reported revenue of $46.9 billion for fiscal 2013, the year ended 31 December 2013, down 2.4% on the year before. Net income was $8.6 billion, down 4.8%, and diluted earnings per share $1.90. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2014.
Revenue
$46.9 billion
-2.4% on the year
FY2007FY2013
Operating margin
21.8%
22.4% a year earlier
FY2007FY2013
Net income
$8.6 billion
-4.8% on the year
FY2007FY2013
Diluted EPS
$1.90
-3.6% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
46,854
48,017
46,542
-2.4%
Cost of revenue
18,421
19,053
18,216
-3.3%
Gross profit
28,433
28,964
28,326
-1.8%
Gross margin
60.7%
60.3%
60.9%
Selling, general and administrative
17,310
17,738
17,440
-2.4%
Operating income
10,228
10,779
10,154
-5.1%
Operating margin
21.8%
22.4%
21.8%
Interest expense
463
397
417
+16.6%
Pre-tax income
11,477
11,809
11,439
-2.8%
Income tax
2,851
2,723
2,812
+4.7%
Effective tax rate
24.8%
23.1%
24.6%
Net income
8,584
9,019
8,572
-4.8%
Net margin
18.3%
18.8%
18.4%
Diluted EPS
$1.90
$1.97
$1.84
-3.6%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
10,542
10,645
9,474
-1.0%
Capital expenditure
2,550
2,780
2,920
-8.3%
Free cash flow
7,992
7,865
6,554
+1.6%
Free cash flow margin
17.1%
16.4%
14.1%
Cash from investing
-4,214
-11,404
-2,524
Cash from financing
-3,745
-3,347
-2,234
Depreciation and amortisation
1,977
1,982
1,954
-0.3%
Share-based compensation
227
259
354
-12.4%
Buybacks
4,832
4,559
4,513
+6.0%
Dividends paid
4,969
4,595
4,300
+8.1%
Dividend per share
$1.12
$1.02
$0.94
+9.8%
Diluted shares, weighted
4,509m
4,584m
4,646m
-1.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
33,173
32,790
31,635
+1.2%
Non-controlling interest
267
378
286
-29.4%
Debt
37,079
32,610
28,568
+13.7%
Other liabilities
19,536
20,396
19,485
-4.2%
Total liabilities and equity
90,055
86,174
79,974
+4.5%
Fixed assets
14,967
14,476
14,939
+3.4%
Goodwill
12,312
12,255
12,219
+0.5%
Intangible assets
969
1,039
1,137
-6.7%
Investments
3,147
3,092
144
+1.8%
Trading assets
372
266
211
+39.8%
Cash and equivalents
10,414
8,442
12,803
+23.4%
Receivables
4,873
4,759
4,920
+2.4%
Inventory
3,277
3,264
3,092
+0.4%
Other assets
39,724
38,581
30,509
+3.0%
Total assets
90,055
86,174
79,974
+4.5%
10-K for the year ended 31 December 2013, filed 27 February 2014: the filing.