Coca-Cola (KO) FY2014 results: revenue $46.0 billion, down 1.8% on the year
Coca-Cola Co. (KO) reported revenue of $46.0 billion for fiscal 2014, the year ended 31 December 2014, down 1.8% on the year before. Net income was $7.1 billion, down 17.3%, and diluted earnings per share $1.60. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$46.0 billion
-1.8% on the year
FY2007FY2014
Operating margin
21.1%
21.8% a year earlier
FY2007FY2014
Net income
$7.1 billion
-17.3% on the year
FY2007FY2014
Diluted EPS
$1.60
-15.8% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
45,998
46,854
48,017
-1.8%
Cost of revenue
17,889
18,421
19,053
-2.9%
Gross profit
28,109
28,433
28,964
-1.1%
Gross margin
61.1%
60.7%
60.3%
Selling, general and administrative
17,218
17,310
17,738
-0.5%
Operating income
9,708
10,228
10,779
-5.1%
Operating margin
21.1%
21.8%
22.4%
Interest expense
483
463
397
+4.3%
Pre-tax income
9,325
11,477
11,809
-18.8%
Income tax
2,201
2,851
2,723
-22.8%
Effective tax rate
23.6%
24.8%
23.1%
Net income
7,098
8,584
9,019
-17.3%
Net margin
15.4%
18.3%
18.8%
Diluted EPS
$1.60
$1.90
$1.97
-15.8%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
10,615
10,542
10,645
+0.7%
Capital expenditure
2,406
2,550
2,780
-5.6%
Free cash flow
8,209
7,992
7,865
+2.7%
Free cash flow margin
17.8%
17.1%
16.4%
Cash from investing
-7,506
-4,214
-11,404
Cash from financing
-3,631
-3,745
-3,347
Depreciation and amortisation
1,976
1,977
1,982
-0.1%
Share-based compensation
209
227
259
-7.9%
Buybacks
4,162
4,832
4,559
-13.9%
Dividends paid
5,350
4,969
4,595
+7.7%
Dividend per share
$1.22
$1.12
$1.02
+8.9%
Diluted shares, weighted
4,450m
4,509m
4,584m
-1.3%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
30,320
33,173
32,790
-8.6%
Non-controlling interest
241
267
378
-9.7%
Debt
41,745
37,079
32,610
+12.6%
Other liabilities
19,717
19,536
20,396
+0.9%
Total liabilities and equity
92,023
90,055
86,174
+2.2%
Fixed assets
14,633
14,967
14,476
-2.2%
Goodwill
12,100
12,312
12,255
-1.7%
Intangible assets
880
969
1,039
-9.2%
Investments
3,665
3,147
3,092
+16.5%
Trading assets
409
372
266
+9.9%
Cash and equivalents
8,958
10,414
8,442
-14.0%
Receivables
4,466
4,873
4,759
-8.4%
Inventory
3,100
3,277
3,264
-5.4%
Other assets
43,812
39,724
38,581
+10.3%
Total assets
92,023
90,055
86,174
+2.2%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.