PepsiCo (PEP) FY2012 results: revenue $65.5 billion, down 1.5% on the year
PepsiCo Inc. (PEP) reported revenue of $65.5 billion for fiscal 2012, the year ended 29 December 2012, down 1.5% on the year before. Net income was $6.2 billion, down 4.1%, and diluted earnings per share $3.92. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$65.5 billion
-1.5% on the year
FY2007FY2012
Operating margin
13.9%
14.5% a year earlier
FY2007FY2012
Net income
$6.2 billion
-4.1% on the year
FY2007FY2012
Diluted EPS
$3.92
-2.7% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
65,492
66,504
57,838
-1.5%
Cost of revenue
31,291
31,593
26,575
-1.0%
Gross profit
34,201
34,911
31,263
-2.0%
Gross margin
52.2%
52.5%
54.1%
Research and development
552
525
488
+5.1%
Selling, general and administrative
24,970
25,145
22,814
-0.7%
Operating income
9,112
9,633
8,332
-5.4%
Operating margin
13.9%
14.5%
14.4%
Interest expense
899
856
903
+5.0%
Pre-tax income
8,304
8,834
8,232
-6.0%
Income tax
2,090
2,372
1,894
-11.9%
Effective tax rate
25.2%
26.9%
23.0%
Net income
6,178
6,443
6,320
-4.1%
Net margin
9.4%
9.7%
10.9%
Diluted EPS
$3.92
$4.03
$3.91
-2.7%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
8,479
8,944
8,448
-5.2%
Capital expenditure
2,714
3,339
3,253
-18.7%
Free cash flow
5,765
5,605
5,195
+2.9%
Free cash flow margin
8.8%
8.4%
9.0%
Cash from investing
-3,005
-5,618
-7,668
Cash from financing
-3,306
-5,135
1,386
Depreciation and amortisation
2,689
2,737
2,327
-1.8%
Share-based compensation
278
326
299
-14.7%
Buybacks
3,219
2,489
4,978
+29.3%
Dividends paid
3,305
3,157
2,978
+4.7%
Dividend per share
$2.13
$2.02
$1.89
+5.1%
Diluted shares, weighted
1,575m
1,597m
1,614m
-1.4%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
22,417
20,704
21,273
+8.3%
Non-controlling interest
-105
311
312
Debt
28,359
26,773
24,897
+5.9%
Other liabilities
23,967
25,094
21,671
-4.5%
Total liabilities and equity
74,638
72,882
68,153
+2.4%
Fixed assets
19,136
19,698
19,058
-2.9%
Goodwill
16,971
16,800
14,661
+1.0%
Intangible assets
1,781
1,888
2,025
-5.7%
Investments
322
358
426
-10.1%
Trading assets
161
157
167
+2.5%
Cash and equivalents
6,297
4,067
5,943
+54.8%
Inventory
3,581
3,827
3,372
-6.4%
Other assets
26,389
26,087
22,501
+1.2%
Total assets
74,638
72,882
68,153
+2.4%
10-K for the year ended 29 December 2012, filed 21 February 2013: the filing.