Mondelez International (MDLZ) FY2016 results: revenue $25.9 billion, down 12.5% on the year
Mondelez International, Inc. (MDLZ) reported revenue of $25.9 billion for fiscal 2016, the year ended 31 December 2016, down 12.5% on the year before. Net income was $1.6 billion, down 77.5%, and diluted earnings per share $1.04. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2017.
Revenue
$25.9 billion
-12.5% on the year
FY2009FY2016
Operating margin
9.9%
30.0% a year earlier
FY2009FY2016
Net income
$1.6 billion
-77.5% on the year
FY2009FY2016
Diluted EPS
$1.04
-76.6% 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
25,923
29,636
34,244
-12.5%
Cost of revenue
15,819
18,124
21,647
-12.7%
Gross profit
10,104
11,512
12,597
-12.2%
Gross margin
39.0%
38.8%
36.8%
Research and development
376
409
455
-8.1%
Selling, general and administrative
6,540
7,577
8,457
-13.7%
Operating income
2,554
8,897
3,242
-71.3%
Operating margin
9.9%
30.0%
9.5%
Interest expense
515
609
778
-15.4%
Pre-tax income
1,454
7,884
2,554
-81.6%
Income tax
114
593
353
-80.8%
Effective tax rate
7.8%
7.5%
13.8%
Net income
1,635
7,267
2,184
-77.5%
Net margin
6.3%
24.5%
6.4%
Diluted EPS
$1.04
$4.44
$1.28
-76.6%
$ 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
2,838
3,728
3,562
-23.9%
Capital expenditure
1,224
1,514
1,642
-19.2%
Free cash flow
1,614
2,214
1,920
-27.1%
Free cash flow margin
6.2%
7.5%
5.6%
Cash from investing
-1,029
2,649
-1,642
Cash from financing
-1,862
-5,883
-2,688
Depreciation and amortisation
823
894
1,059
-7.9%
Share-based compensation
140
136
141
+2.9%
Buybacks
2,601
3,622
1,700
-28.2%
Dividends paid
1,094
1,008
964
+8.5%
Dividend per share
$0.72
$0.64
$0.58
+12.5%
Diluted shares, weighted
1,573m
1,637m
1,709m
-3.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
25,161
28,012
27,750
-10.2%
Non-controlling interest
54.0
88.0
103
-38.6%
Debt
17,199
15,398
16,656
+11.7%
Other liabilities
19,124
19,345
22,306
-1.1%
Total liabilities and equity
61,538
62,843
66,815
-2.1%
Fixed assets
8,229
8,362
9,827
-1.6%
Goodwill
20,276
20,664
23,389
-1.9%
Intangible assets
18,101
18,768
20,335
-3.6%
Cash and equivalents
1,741
n/a
n/a
Receivables
2,611
2,634
3,802
-0.9%
Inventory
2,469
2,609
3,480
-5.4%
Other assets
8,111
9,806
5,982
-17.3%
Total assets
61,538
62,843
66,815
-2.1%
10-K for the year ended 31 December 2016, filed 24 February 2017: the filing.