Common-Size Income Statement
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- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2012
- Return on Equity (ROE) since 2012
- Total Asset Turnover since 2012
- Price to Book Value (P/BV) since 2012
- Analysis of Debt
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Kraft Foods Group Inc., common-size consolidated income statement
Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).
- Net Revenues
- Remained constant at 100% over the three-year period, serving as the baseline for all percentage-based financial items.
- Cost of Sales
- Displayed significant variability, decreasing from -68.16% in 2012 to -62.55% in 2013, indicating improved cost efficiency. However, in 2014, it sharply increased to -73.39%, suggesting a deterioration in cost control or input cost inflation.
- Gross Profit
- Mirroring cost of sales trends, gross profit rose from 31.84% in 2012 to 37.45% in 2013, reflecting better margin management, but subsequently dropped markedly to 26.61% in 2014, signaling pressure on profitability at the gross level.
- Selling, General and Administrative Expenses
- Fluctuated moderately, with a reduction from -16.52% in 2012 to -11.66% in 2013, which may indicate operational efficiencies or cost-saving measures. However, in 2014, expenses increased again to -16.24%, suggesting a reversal of prior gains or increased spending.
- Asset Impairment and Exit Costs
- Remained relatively minor and stable, moving from -0.77% in 2012 to -0.59% in 2013, and nearly neutral at 0.01% in 2014, implying limited impact on overall profitability from such charges.
- Operating Income
- Demonstrated considerable volatility, rising significantly to 25.2% in 2013 from 14.56% in 2012, reflecting favorable operational performance. However, operating income decreased sharply to 10.38% in 2014, indicating reduced operating efficiency or increased costs.
- Interest and Other Expense, Net
- Worsened from -1.41% in 2012 to -2.75% in 2013 and remained elevated at -2.66% in 2014, suggesting increased financial costs or liabilities over the period that negatively affected net income.
- Royalty Income from Mondelēz International
- Recorded only in 2012 at 0.22%, with no data afterward, indicating that royalty income ceased or was not reported in subsequent years.
- Earnings Before Income Taxes
- Followed a similar pattern to operating income, increasing substantially to 22.45% in 2013 from 13.38% in 2012, then declining sharply to 7.72% in 2014, reflecting combined effects of operating performance and financial expenses.
- Provision for Income Taxes
- Increased from -4.42% in 2012 to -7.55% in 2013, indicating a higher tax burden relative to earnings, but decreased markedly to -1.99% in 2014, possibly due to tax planning, changes in tax rates, or lower taxable income.
- Net Earnings
- Echoed the overall profitability trend, rising from 8.95% in 2012 to 14.9% in 2013 with improved margins, then falling sharply to 5.73% in 2014, reflecting the combined impact of cost increases, operating income decline, and income tax reduction.