Yum! Brands (YUM) FY2012 results: revenue $13.6 billion, up 8.0% on the year
Yum! Brands, Inc. (YUM) reported revenue of $13.6 billion for fiscal 2012, the year ended 29 December 2012, up 8.0% on the year before. Net income was $1.6 billion, up 21.1%, and diluted earnings per share $3.38. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2013.
Revenue
$13.6 billion
+8.0% on the year
FY2007FY2012
Operating margin
16.8%
14.4% a year earlier
FY2007FY2012
Net income
$1.6 billion
+21.1% on the year
FY2007FY2012
Diluted EPS
$3.38
+23.4% 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
13,633
12,626
11,343
+8.0%
Cost of revenue
9,852
9,140
8,120
+7.8%
Gross profit
3,781
3,486
3,223
+8.5%
Gross margin
27.7%
27.6%
28.4%
Research and development
30.0
34.0
33.0
-11.8%
Operating income
2,294
1,815
1,769
+26.4%
Operating margin
16.8%
14.4%
15.6%
Interest expense
169
184
195
-8.2%
Pre-tax income
2,145
1,659
1,594
+29.3%
Income tax
537
324
416
+65.7%
Effective tax rate
25.0%
19.5%
26.1%
Net income
1,597
1,319
1,158
+21.1%
Net margin
11.7%
10.4%
10.2%
Diluted EPS
$3.38
$2.74
$2.38
+23.4%
$ 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
2,294
2,170
1,968
+5.7%
Capital expenditure
1,099
940
796
+16.9%
Free cash flow
1,195
1,230
1,172
-2.8%
Free cash flow margin
8.8%
9.7%
10.3%
Cash from investing
-1,005
-1,006
-579
Cash from financing
-1,716
-1,413
-337
Depreciation and amortisation
665
637
589
+4.4%
Share-based compensation
50.0
59.0
47.0
-15.3%
Buybacks
965
752
371
+28.3%
Dividends paid
544
481
412
+13.1%
Dividend per share
$1.24
$1.07
$0.92
+15.9%
Diluted shares, weighted
473m
481m
486m
-1.7%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,154
1,823
1,576
+18.2%
Non-controlling interest
99.0
93.0
93.0
+6.5%
Redeemable equity
59.0
n/a
n/a
Debt
2,942
3,317
3,588
-11.3%
Other liabilities
3,757
3,601
3,059
+4.3%
Total liabilities and equity
9,011
8,834
8,316
+2.0%
Fixed assets
4,250
4,042
3,830
+5.1%
Goodwill
1,034
681
659
+51.8%
Intangible assets
690
299
475
+130.8%
Cash and equivalents
776
1,198
1,426
-35.2%
Inventory
313
273
189
+14.7%
Other assets
1,948
2,341
1,737
-16.8%
Total assets
9,011
8,834
8,316
+2.0%
10-K for the year ended 29 December 2012, filed 20 February 2013: the filing.