PepsiCo (PEP) FY2013 results: revenue $66.4 billion, up 1.4% on the year
PepsiCo Inc. (PEP) reported revenue of $66.4 billion for fiscal 2013, the year ended 28 December 2013, up 1.4% on the year before. Net income was $6.7 billion, up 9.1%, and diluted earnings per share $4.32. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$66.4 billion
+1.4% on the year
FY2007FY2013
Operating margin
14.6%
13.9% a year earlier
FY2007FY2013
Net income
$6.7 billion
+9.1% on the year
FY2007FY2013
Diluted EPS
$4.32
+10.2% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
66,415
65,492
66,504
+1.4%
Cost of revenue
31,243
31,291
31,593
-0.2%
Gross profit
35,172
34,201
34,911
+2.8%
Gross margin
53.0%
52.2%
52.5%
Research and development
665
552
525
+20.5%
Selling, general and administrative
25,357
24,970
25,145
+1.5%
Operating income
9,705
9,112
9,633
+6.5%
Operating margin
14.6%
13.9%
14.5%
Interest expense
911
899
856
+1.3%
Pre-tax income
8,891
8,304
8,834
+7.1%
Income tax
2,104
2,090
2,372
+0.7%
Effective tax rate
23.7%
25.2%
26.9%
Net income
6,740
6,178
6,443
+9.1%
Net margin
10.1%
9.4%
9.7%
Diluted EPS
$4.32
$3.92
$4.03
+10.2%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
9,688
8,479
8,944
+14.3%
Capital expenditure
2,795
2,714
3,339
+3.0%
Free cash flow
6,893
5,765
5,605
+19.6%
Free cash flow margin
10.4%
8.8%
8.4%
Cash from investing
-2,625
-3,005
-5,618
Cash from financing
-3,789
-3,306
-5,135
Depreciation and amortisation
2,663
2,689
2,737
-1.0%
Share-based compensation
303
278
326
+9.0%
Buybacks
3,001
3,219
2,489
-6.8%
Dividends paid
3,434
3,305
3,157
+3.9%
Dividend per share
$2.24
$2.13
$2.02
+5.3%
Diluted shares, weighted
1,560m
1,575m
1,597m
-1.0%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
24,409
22,417
20,704
+8.9%
Non-controlling interest
110
-105
311
Debt
29,639
28,359
26,773
+4.5%
Other liabilities
23,320
23,967
25,094
-2.7%
Total liabilities and equity
77,478
74,638
72,882
+3.8%
Fixed assets
18,575
19,136
19,698
-2.9%
Goodwill
16,613
16,971
16,800
-2.1%
Intangible assets
1,638
1,781
1,888
-8.0%
Investments
303
322
358
-5.9%
Trading assets
184
161
157
+14.3%
Cash and equivalents
9,375
6,297
4,067
+48.9%
Inventory
3,409
3,581
3,827
-4.8%
Other assets
27,381
26,389
26,087
+3.8%
Total assets
77,478
74,638
72,882
+3.8%
10-K for the year ended 28 December 2013, filed 14 February 2014: the filing.