Coca-Cola (KO) FY2017 results: revenue $36.2 billion, down 13.5% on the year
Coca-Cola Co. (KO) reported revenue of $36.2 billion for fiscal 2017, the year ended 31 December 2017, down 13.5% on the year before. Net income was $1.2 billion, down 80.9%, and diluted earnings per share $0.29. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2019.
Revenue
$36.2 billion
-13.5% on the year
FY2010FY2017
Operating margin
21.4%
20.7% a year earlier
FY2010FY2017
Net income
$1.2 billion
-80.9% on the year
FY2010FY2017
Diluted EPS
$0.29
-80.5% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
36,212
41,863
44,294
-13.5%
Cost of revenue
13,721
16,465
17,482
-16.7%
Gross profit
22,491
25,398
26,812
-11.4%
Gross margin
62.1%
60.7%
60.5%
Selling, general and administrative
12,834
15,370
16,427
-16.5%
Operating income
7,755
8,657
8,728
-10.4%
Operating margin
21.4%
20.7%
19.7%
Interest expense
853
733
856
+16.4%
Pre-tax income
6,890
8,136
9,605
-15.3%
Income tax
5,607
1,586
2,239
+253.5%
Effective tax rate
81.4%
19.5%
23.3%
Net income
1,248
6,527
7,351
-80.9%
Net margin
3.4%
15.6%
16.6%
Diluted EPS
$0.29
$1.49
$1.67
-80.5%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
7,041
8,796
10,528
-20.0%
Capital expenditure
1,750
2,262
2,553
-22.6%
Free cash flow
5,291
6,534
7,975
-19.0%
Free cash flow margin
14.6%
15.6%
18.0%
Cash from investing
-2,312
-1,004
-6,186
Cash from financing
-7,447
-6,545
-5,113
Depreciation and amortisation
1,260
1,787
1,970
-29.5%
Share-based compensation
219
258
236
-15.1%
Buybacks
3,682
3,681
3,564
+0.0%
Dividends paid
6,320
6,043
5,741
+4.6%
Dividend per share
$1.48
$1.40
$1.32
+5.7%
Diluted shares, weighted
4,324m
4,367m
4,405m
-1.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
17,072
23,062
25,554
-26.0%
Non-controlling interest
1,905
158
210
+1,105.7%
Debt
47,685
45,709
44,116
+4.3%
Other liabilities
21,234
18,341
20,213
+15.8%
Total liabilities and equity
87,896
87,270
90,093
+0.7%
Fixed assets
9,638
10,635
12,571
-9.4%
Goodwill
13,649
10,629
11,289
+28.4%
Intangible assets
1,125
598
690
+88.1%
Investments
5,317
4,051
4,269
+31.3%
Trading assets
407
384
322
+6.0%
Cash and equivalents
6,102
8,555
7,309
-28.7%
Receivables
3,966
3,856
3,941
+2.9%
Inventory
2,954
2,675
2,902
+10.4%
Other assets
44,738
45,887
46,800
-2.5%
Total assets
87,896
87,270
90,093
+0.7%
10-K for the year ended 31 December 2017, filed 21 February 2019: the filing.