Kroger (KR) FY2019 results: revenue $122.3 billion, up 0.4% on the year
Kroger Co. (KR) reported revenue of $122.3 billion for fiscal 2019, the year ended 1 February 2020, up 0.4% on the year before. Net income was $1.7 billion, down 46.7%, and diluted earnings per share $2.04. The figures are the company's own, from the 10-K it filed with the SEC on 1 April 2020.
Revenue
$122.3 billion
+0.4% on the year
FY2012FY2019
Operating margin
1.8%
2.1% a year earlier
FY2012FY2019
Net income
$1.7 billion
-46.7% on the year
FY2012FY2019
Diluted EPS
$2.04
-45.7% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
122,286
121,852
123,280
+0.4%
Cost of revenue
95,294
95,103
95,662
+0.2%
Gross profit
26,992
26,749
n/a
+0.9%
Gross margin
22.1%
22.0%
n/a
Operating income
2,251
2,614
2,612
-13.9%
Operating margin
1.8%
2.1%
2.1%
Interest expense
603
620
601
-2.7%
Pre-tax income
1,981
3,978
1,484
-50.2%
Income tax
469
900
-405
-47.9%
Effective tax rate
23.7%
22.6%
-27.3%
Net income
1,659
3,110
1,907
-46.7%
Net margin
1.4%
2.6%
1.5%
Diluted EPS
$2.04
$3.76
$2.09
-45.7%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,664
4,164
3,413
+12.0%
Capital expenditure
3,128
2,967
2,809
+5.4%
Free cash flow
1,536
1,197
604
+28.3%
Free cash flow margin
1.3%
1.0%
0.5%
Cash from investing
-2,611
-1,186
-2,707
Cash from financing
-2,083
-2,896
-681
Depreciation and amortisation
2,649
2,465
2,436
+7.5%
Share-based compensation
155
154
151
+0.6%
Buybacks
465
2,010
1,633
-76.9%
Dividends paid
486
437
443
+11.2%
Dividend per share
$0.62
$0.55
$0.49
+13.8%
Diluted shares, weighted
805m
818m
904m
-1.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,602
7,886
6,931
+9.1%
Non-controlling interest
-29.0
-51.0
-26.0
Debt
13,256
14,351
15,589
-7.6%
Operating lease liabilities
6,505
n/a
n/a
Finance lease liabilities
781
824
n/a
-5.2%
Other liabilities
16,141
15,108
14,703
+6.8%
Total liabilities and equity
45,256
38,118
37,197
+18.7%
Fixed assets
21,871
21,635
21,071
+1.1%
Goodwill
3,076
3,087
2,925
-0.4%
Intangible assets
1,066
1,258
1,100
-15.3%
Cash and equivalents
399
429
347
-7.0%
Receivables
1,706
1,589
1,637
+7.4%
Other assets
17,138
10,120
10,117
+69.3%
Total assets
45,256
38,118
37,197
+18.7%
10-K for the year ended 1 February 2020, filed 1 April 2020: the filing.