PepsiCo (PEP) FY2016 results: revenue $62.8 billion, down 0.4% on the year
PepsiCo Inc. (PEP) reported revenue of $62.8 billion for fiscal 2016, the year ended 31 December 2016, down 0.4% on the year before. Net income was $6.3 billion, up 16.1%, and diluted earnings per share $4.36. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$62.8 billion
-0.4% on the year
FY2009FY2016
Operating margin
15.6%
13.2% a year earlier
FY2009FY2016
Net income
$6.3 billion
+16.1% on the year
FY2009FY2016
Diluted EPS
$4.36
+18.8% 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
62,799
63,056
66,683
-0.4%
Cost of revenue
28,209
28,731
31,238
-1.8%
Gross profit
34,590
34,325
35,445
+0.8%
Gross margin
55.1%
54.4%
53.2%
Research and development
760
754
718
+0.8%
Selling, general and administrative
24,735
24,613
25,772
+0.5%
Operating income
9,785
8,353
9,581
+17.1%
Operating margin
15.6%
13.2%
14.4%
Interest expense
1,342
970
909
+38.4%
Pre-tax income
8,553
7,442
8,757
+14.9%
Income tax
2,174
1,941
2,199
+12.0%
Effective tax rate
25.4%
26.1%
25.1%
Net income
6,329
5,452
6,513
+16.1%
Net margin
10.1%
8.6%
9.8%
Diluted EPS
$4.36
$3.67
$4.27
+18.8%
$ 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
10,663
10,864
10,506
-1.9%
Capital expenditure
3,040
2,758
2,859
+10.2%
Free cash flow
7,623
8,106
7,647
-6.0%
Free cash flow margin
12.1%
12.9%
11.5%
Cash from investing
-7,148
-3,569
-4,937
Cash from financing
-3,211
-4,112
-8,264
Depreciation and amortisation
2,368
2,416
2,625
-2.0%
Share-based compensation
284
295
297
-3.7%
Buybacks
3,000
5,000
5,012
-40.0%
Dividends paid
4,227
4,040
3,730
+4.6%
Dividend per share
$2.96
$2.76
$2.53
+7.1%
Diluted shares, weighted
1,452m
1,485m
1,527m
-2.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
11,246
12,068
17,578
-6.8%
Non-controlling interest
104
107
110
-2.8%
Debt
36,945
33,284
28,897
+11.0%
Other liabilities
25,195
24,208
23,924
+4.1%
Total liabilities and equity
73,490
69,667
70,509
+5.5%
Fixed assets
16,591
16,317
17,244
+1.7%
Goodwill
14,430
14,177
14,965
+1.8%
Intangible assets
1,237
1,270
1,449
-2.6%
Investments
6,967
2,913
2,592
+139.2%
Cash and equivalents
9,158
9,096
6,134
+0.7%
Inventory
2,723
2,720
3,143
+0.1%
Other assets
22,384
23,174
24,982
-3.4%
Total assets
73,490
69,667
70,509
+5.5%
10-K for the year ended 31 December 2016, filed 15 February 2019: the filing.