Coca-Cola (KO) FY2016 results: revenue $41.9 billion, down 5.5% on the year
Coca-Cola Co. (KO) reported revenue of $41.9 billion for fiscal 2016, the year ended 31 December 2016, down 5.5% on the year before. Net income was $6.5 billion, down 11.2%, and diluted earnings per share $1.49. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$41.9 billion
-5.5% on the year
FY2009FY2016
Operating margin
20.7%
19.7% a year earlier
FY2009FY2016
Net income
$6.5 billion
-11.2% on the year
FY2009FY2016
Diluted EPS
$1.49
-10.8% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
41,863
44,294
45,998
-5.5%
Cost of revenue
16,465
17,482
17,889
-5.8%
Gross profit
25,398
26,812
28,109
-5.3%
Gross margin
60.7%
60.5%
61.1%
Selling, general and administrative
15,370
16,427
17,218
-6.4%
Operating income
8,657
8,728
9,708
-0.8%
Operating margin
20.7%
19.7%
21.1%
Interest expense
733
856
483
-14.4%
Pre-tax income
8,136
9,605
9,325
-15.3%
Income tax
1,586
2,239
2,201
-29.2%
Effective tax rate
19.5%
23.3%
23.6%
Net income
6,527
7,351
7,098
-11.2%
Net margin
15.6%
16.6%
15.4%
Diluted EPS
$1.49
$1.67
$1.60
-10.8%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
8,796
10,528
10,615
-16.5%
Capital expenditure
2,262
2,553
2,406
-11.4%
Free cash flow
6,534
7,975
8,209
-18.1%
Free cash flow margin
15.6%
18.0%
17.8%
Cash from investing
-1,004
-6,186
-7,506
Cash from financing
-6,545
-5,113
-3,631
Depreciation and amortisation
1,787
1,970
1,976
-9.3%
Share-based compensation
258
236
209
+9.3%
Buybacks
3,681
3,564
4,162
+3.3%
Dividends paid
6,043
5,741
5,350
+5.3%
Dividend per share
$1.40
$1.32
$1.22
+6.1%
Diluted shares, weighted
4,367m
4,405m
4,450m
-0.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
23,062
25,554
30,320
-9.8%
Non-controlling interest
158
210
241
-24.8%
Debt
45,709
44,116
41,745
+3.6%
Other liabilities
18,341
20,213
19,717
-9.3%
Total liabilities and equity
87,270
90,093
92,023
-3.1%
Fixed assets
10,635
12,571
14,633
-15.4%
Goodwill
10,629
11,289
12,100
-5.8%
Intangible assets
598
690
880
-13.3%
Investments
4,051
4,269
3,665
-5.1%
Trading assets
384
322
409
+19.3%
Cash and equivalents
8,555
7,309
8,958
+17.0%
Receivables
3,856
3,941
4,466
-2.2%
Inventory
2,675
2,902
3,100
-7.8%
Other assets
45,887
46,800
43,812
-2.0%
Total assets
87,270
90,093
92,023
-3.1%
10-K for the year ended 31 December 2016, filed 21 February 2019: the filing.