Coca-Cola (KO) FY2015 results: revenue $44.3 billion, down 3.7% on the year
Coca-Cola Co. (KO) reported revenue of $44.3 billion for fiscal 2015, the year ended 31 December 2015, down 3.7% on the year before. Net income was $7.4 billion, up 3.6%, and diluted earnings per share $1.67. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2016.
Revenue
$44.3 billion
-3.7% on the year
FY2008FY2015
Operating margin
19.7%
21.1% a year earlier
FY2008FY2015
Net income
$7.4 billion
+3.6% on the year
FY2008FY2015
Diluted EPS
$1.67
+4.4% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
44,294
45,998
46,854
-3.7%
Cost of revenue
17,482
17,889
18,421
-2.3%
Gross profit
26,812
28,109
28,433
-4.6%
Gross margin
60.5%
61.1%
60.7%
Selling, general and administrative
16,427
17,218
17,310
-4.6%
Operating income
8,728
9,708
10,228
-10.1%
Operating margin
19.7%
21.1%
21.8%
Interest expense
856
483
463
+77.2%
Pre-tax income
9,605
9,325
11,477
+3.0%
Income tax
2,239
2,201
2,851
+1.7%
Effective tax rate
23.3%
23.6%
24.8%
Net income
7,351
7,098
8,584
+3.6%
Net margin
16.6%
15.4%
18.3%
Diluted EPS
$1.67
$1.60
$1.90
+4.4%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
10,528
10,615
10,542
-0.8%
Capital expenditure
2,553
2,406
2,550
+6.1%
Free cash flow
7,975
8,209
7,992
-2.9%
Free cash flow margin
18.0%
17.8%
17.1%
Cash from investing
-6,186
-7,506
-4,214
Cash from financing
-5,113
-3,631
-3,745
Depreciation and amortisation
1,970
1,976
1,977
-0.3%
Share-based compensation
236
209
227
+12.9%
Buybacks
3,564
4,162
4,832
-14.4%
Dividends paid
5,741
5,350
4,969
+7.3%
Dividend per share
$1.32
$1.22
$1.12
+8.2%
Diluted shares, weighted
4,405m
4,450m
4,509m
-1.0%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
25,554
30,320
33,173
-15.7%
Non-controlling interest
210
241
267
-12.9%
Debt
44,116
41,745
37,079
+5.7%
Other liabilities
20,213
19,717
19,536
+2.5%
Total liabilities and equity
90,093
92,023
90,055
-2.1%
Fixed assets
12,571
14,633
14,967
-14.1%
Goodwill
11,289
12,100
12,312
-6.7%
Intangible assets
690
880
969
-21.6%
Investments
4,269
3,665
3,147
+16.5%
Trading assets
322
409
372
-21.3%
Cash and equivalents
7,309
8,958
10,414
-18.4%
Receivables
3,941
4,466
4,873
-11.8%
Inventory
2,902
3,100
3,277
-6.4%
Other assets
46,800
43,812
39,724
+6.8%
Total assets
90,093
92,023
90,055
-2.1%
10-K for the year ended 31 December 2015, filed 25 February 2016: the filing.