Coca-Cola (KO) FY2021 results: revenue $38.7 billion, up 17.1% on the year
Coca-Cola Co. (KO) reported revenue of $38.7 billion for fiscal 2021, the year ended 31 December 2021, up 17.1% on the year before. Net income was $9.8 billion, up 26.1%, and diluted earnings per share $2.25. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2022.
Revenue
$38.7 billion
+17.1% on the year
FY2014FY2021
Operating margin
26.7%
27.3% a year earlier
FY2014FY2021
Net income
$9.8 billion
+26.1% on the year
FY2014FY2021
Diluted EPS
$2.25
+25.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
12,625
9,844
10,471
+28.3%
Capital expenditure
1,367
1,177
2,054
+16.1%
Free cash flow
11,258
8,667
8,417
+29.9%
Free cash flow margin
29.1%
26.3%
22.6%
Cash from investing
-2,765
-1,477
-3,976
Cash from financing
-6,786
-8,070
-9,004
Depreciation and amortisation
1,452
1,536
1,365
-5.5%
Share-based compensation
337
126
201
+167.5%
Buybacks
111
118
1,103
-5.9%
Dividends paid
7,252
7,047
6,845
+2.9%
Dividend per share
$1.68
$1.64
$1.60
+2.4%
Diluted shares, weighted
4,340m
4,323m
4,314m
+0.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
22,999
19,299
18,981
+19.2%
Non-controlling interest
1,861
1,985
2,117
-6.2%
Debt
42,761
42,793
42,763
-0.1%
Operating lease liabilities
1,161
1,300
1,111
-10.7%
Other liabilities
25,572
21,919
21,409
+16.7%
Total liabilities and equity
94,354
87,296
86,381
+8.1%
Fixed assets
9,920
10,777
10,838
-8.0%
Goodwill
19,363
17,506
16,764
+10.6%
Intangible assets
574
424
517
+35.4%
Investments
n/a
2,348
3,228
Securities held for sale or to maturity
1,549
n/a
n/a
Trading assets
n/a
2,374
n/a
Cash and equivalents
9,684
6,795
6,480
+42.5%
Receivables
3,512
3,144
3,971
+11.7%
Inventory
3,414
3,266
3,379
+4.5%
Other assets
46,338
40,662
41,204
+14.0%
Total assets
94,354
87,296
86,381
+8.1%
10-K for the year ended 31 December 2021, filed 22 February 2022: the filing.