Revenue performance remains highly volatile, evidenced by a 12.2% contraction in 2025Q4 following a 78.8% surge in 2024Q4, though gross margins have remained resilient at 40.3%.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Sales/Revenue | 3.18T | 3.41T | 2.74T | 2.61T | 2.48T | 1.53T | 1.78T | 1.81T | 1.78T | 1.75T | 2.03T | 1.77T | 1.5T | 1.17T | 1.04T | 816.42B | 713.64B | 884.86B | 603.66B | 546.34B | 440.18B | 412.15B | 386.86B | 398.24B | 481.93B | 444.66B | 384.94B | 416.53B |
| Revenue Growth % | -6.69% | 24.29% | 5.14% | 5.18% | 62.49% | -14.45% | -1.29% | 1.82% | 1.23% | -13.63% | 14.57% | 18.33% | 28.25% | 12.41% | 27.25% | 14.4% | -19.35% | 46.58% | 10.49% | 24.12% | 6.8% | 6.54% | -2.86% | -17.36% | 8.38% | 15.52% | -7.58% | - |
| Cost of Goods Sold | 1.94T | 2.06T | 1.68T | 1.6T | 1.54T | 918.96B | 1.05T | 1.05T | 1.03T | 1.02T | 1.2T | 1.07T | 900.35B | 696.26B | 611.54B | 463.47B | 411.41B | 510.03B | 346.66B | 326.43B | 275.79B | 252.67B | 247.21B | 262.17B | 301.61B | 228.81B | 200.06B | 211.05B |
| COGS % of Revenue | 60.92% | 60.34% | 61.18% | 61.3% | 62.05% | 60.21% | 58.93% | 57.86% | 57.82% | 58.17% | 58.95% | 60.16% | 60.12% | 59.62% | 58.87% | 56.77% | 57.65% | 57.64% | 57.43% | 59.75% | 62.65% | 61.31% | 63.9% | 65.83% | 62.58% | 51.46% | 51.97% | 50.67% |
| Gross Profit | 1.24T | 1.35T | 1.06T | 1.01T | 941.28B | 607.35B | 732.81B | 761.63B | 748.79B | 733.58B | 833.52B | 705.98B | 597.27B | 471.51B | 427.32B | 352.94B | 302.23B | 374.83B | 257B | 219.91B | 164.39B | 159.48B | 139.64B | 136.08B | 180.31B | 215.85B | 184.88B | 205.48B |
| Gross Margin % | 39.08% | 39.66% | 38.82% | 38.7% | 37.95% | 39.79% | 41.07% | 42.14% | 42.18% | 41.83% | 41.05% | 39.84% | 39.88% | 40.38% | 41.13% | 43.23% | 42.35% | 42.36% | 42.57% | 40.25% | 37.35% | 38.69% | 36.1% | 34.17% | 37.42% | 48.54% | 48.03% | 49.33% |
| Gross Profit Growth % | -8.06% | 27% | 5.46% | 7.24% | 54.98% | -17.12% | -3.78% | 1.71% | 2.07% | -11.99% | 18.06% | 18.2% | 26.67% | 10.34% | 21.07% | 16.78% | -19.37% | 45.85% | 16.87% | 33.77% | 3.08% | 14.2% | 2.62% | -24.53% | -16.46% | 16.76% | -10.03% | - |
| Operating Expenses | 826.48B | 932.24B | 697.29B | 669.07B | 629.7B | 399.07B | 517.2B | 534.76B | 531.31B | 539.07B | 619.82B | 530.96B | 446.15B | 324.69B | 281.72B | 221.41B | 185.64B | 237.96B | 153.66B | 124.78B | 98.45B | 96.84B | 91.94B | 94.55B | 124.49B | 161.01B | 152.18B | 156.23B |
| OpEx % of Revenue | 25.99% | 27.35% | 25.43% | 25.65% | 25.39% | 26.15% | 28.99% | 29.58% | 29.93% | 30.74% | 30.53% | 29.96% | 29.79% | 27.8% | 27.12% | 27.12% | 26.01% | 26.89% | 25.45% | 22.84% | 22.37% | 23.5% | 23.77% | 23.74% | 25.83% | 36.21% | 39.53% | 37.51% |
| Selling, General & Admin | 803.32B | 889.28B | 686.79B | 665.71B | 611.52B | 390.2B | 491.63B | 516.62B | 518.34B | 521.26B | 597.98B | 521.81B | 431.21B | 318.59B | 277.94B | 217.37B | 182.09B | 237.96B | 153.66B | 131.28B | 98.45B | 96.84B | 91.94B | 94.55B | 124.49B | 120.49B | 108.24B | 117.74B |
| SG&A % of Revenue | 25.26% | 26.09% | 25.04% | 25.52% | 24.66% | 25.56% | 27.55% | 28.58% | 29.2% | 29.72% | 29.45% | 29.44% | 28.79% | 27.28% | 26.75% | 26.63% | 25.52% | 26.89% | 25.45% | 24.03% | 22.37% | 23.5% | 23.77% | 23.74% | 25.83% | 27.1% | 28.12% | 28.27% |
| Research & Development | 6.63B | 11.2B | 3.52B | 4.86B | 2.59B | 1.8B | 2.7B | 1.5B | 1.23B | 1.51B | 2.6B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 0.21% | 0.33% | 0.13% | 0.19% | 0.1% | 0.12% | 0.15% | 0.08% | 0.07% | 0.09% | 0.13% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 16.54B | 31.76B | 6.98B | -1.5B | 15.59B | 7.07B | 22.87B | 16.64B | 11.74B | 16.3B | 19.24B | 9.15B | 14.94B | 6.1B | 3.78B | 4.03B | 3.56B | 0 | 0 | -6.5B | 0 | 153M | -594.53K | 0 | -660.94K | 40.52B | 43.94B | 38.49B |
| Operating Income | 416.46B | 419.74B | 367.27B | 340.35B | 311.58B | 208.28B | 215.6B | 226.87B | 217.48B | 194.5B | 213.7B | 175.02B | 151.12B | 146.82B | 145.6B | 131.54B | 116.58B | 136.87B | 103.34B | 95.13B | 65.94B | 62.64B | 47.7B | 41.52B | 55.83B | 54.84B | 32.7B | 49.25B |
| Operating Margin % | 13.09% | 12.31% | 13.39% | 13.05% | 12.56% | 13.65% | 12.08% | 12.55% | 12.25% | 11.09% | 10.52% | 9.88% | 10.09% | 12.57% | 14.02% | 16.11% | 16.34% | 15.47% | 17.12% | 17.41% | 14.98% | 15.2% | 12.33% | 10.43% | 11.58% | 12.33% | 8.49% | 11.82% |
| Operating Income Growth % | -0.78% | 14.28% | 7.91% | 9.23% | 49.6% | -3.4% | -4.97% | 4.32% | 11.81% | -8.98% | 22.1% | 15.82% | 2.92% | 0.84% | 10.69% | 12.83% | -14.82% | 32.45% | 8.63% | 44.26% | 5.27% | 31.32% | 14.88% | -25.62% | 1.8% | 67.72% | -33.61% | - |
| EBITDA | 567.88B | 579.49B | 485.39B | 457.54B | 428.8B | 307.97B | 327.01B | 334.48B | 312.69B | 290.54B | 322.54B | 276.56B | 233.14B | 200.45B | 187.35B | 165.55B | 150.1B | 184.94B | 137.36B | 131.35B | 98.68B | 102.27B | 87.79B | 90.45B | 111.68B | 103.73B | 76.64B | 87.74B |
| EBITDA Margin % | 17.85% | 17% | 17.7% | 17.54% | 17.29% | 20.18% | 18.33% | 18.5% | 17.61% | 16.57% | 15.89% | 15.61% | 15.57% | 17.16% | 18.03% | 20.28% | 21.03% | 20.9% | 22.76% | 24.04% | 22.42% | 24.81% | 22.69% | 22.71% | 23.17% | 23.33% | 19.91% | 21.06% |
| EBITDA Growth % | -2% | 19.39% | 6.09% | 6.7% | 39.24% | -5.82% | -2.23% | 6.97% | 7.63% | -9.92% | 16.63% | 18.62% | 16.31% | 6.99% | 13.17% | 10.29% | -18.84% | 34.63% | 4.57% | 33.11% | -3.51% | 16.49% | -2.94% | -19% | 7.66% | 35.36% | -12.65% | - |
| D&A (Non-Cash Add-back) | 151.42B | 159.75B | 118.11B | 117.19B | 117.22B | 99.69B | 111.41B | 107.61B | 95.21B | 96.03B | 108.84B | 101.53B | 82.02B | 53.62B | 41.76B | 34.01B | 33.51B | 48.06B | 34.03B | 36.23B | 32.74B | 39.63B | 40.09B | 48.93B | 55.85B | 48.89B | 43.94B | 38.49B |
| EBIT | 416.46B | 419.74B | 367.27B | 340.35B | 311.58B | 208.28B | 215.6B | 226.87B | 217.48B | 194.5B | 213.7B | 175.02B | 151.12B | 146.82B | 145.6B | 131.54B | 116.58B | 136.87B | 103.34B | 95.13B | 78.83B | 66.26B | 50.65B | 41.94B | 58.08B | 54.84B | 32.7B | 50.49B |
| Net Interest Income | -54.1B | -55.01B | -41.37B | -26.66B | -56.83B | -42.1B | -43.08B | -58.31B | -52.35B | -42.33B | -50.28B | -56.51B | -24.06B | -7.92B | -4.28B | -3.7B | -2.36B | -16.39B | 7.37B | -2.84B | 6.82B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 10.77B | 19.43B | 27.01B | 31.8B | 2.46B | 7.13B | 3.26B | 1.13B | 8.04B | 8.35B | 9.92B | 7.66B | 4.43B | 2.48B | 3.36B | 3.1B | 2.94B | 12.41B | 21.75B | 12.52B | 26.24B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 64.87B | 74.44B | 68.38B | 58.46B | 59.29B | 49.23B | 46.34B | 59.44B | 60.38B | 50.69B | 60.21B | 64.17B | 28.49B | 10.4B | 7.65B | 6.8B | 5.3B | 28.8B | 14.37B | 15.36B | 19.42B | 0 | 16.77T | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -54.53B | -30.66B | -94.43B | -111.8B | -84.24B | -48.29B | 21.5B | -61.53B | -53.48B | -55.54B | -73.38B | -78.56B | -39.67B | -20.54B | -6.38B | -2.98B | -1.12B | -11.48B | -451.81M | -7.24B | -6.53B | -22.33B | -32.85B | 7.2M | -16.15B | -21.52B | -447.86M | 6.9B |
| Pretax Income | 361.93B | 389.08B | 272.84B | 228.56B | 227.35B | 160B | 237.1B | 165.33B | 164B | 138.97B | 140.32B | 96.46B | 111.44B | 126.28B | 139.22B | 128.56B | 115.47B | 125.39B | 102.89B | 87.89B | 59.41B | 43.93B | 16.77B | 41.53B | 40.28B | 33.32B | 32.25B | 54.77B |
| Pretax Margin % | 11.38% | 11.41% | 9.95% | 8.76% | 9.17% | 10.48% | 13.29% | 9.15% | 9.24% | 7.92% | 6.91% | 5.44% | 7.44% | 10.81% | 13.4% | 15.75% | 16.18% | 14.17% | 17.04% | 16.09% | 13.5% | 10.66% | 4.33% | 10.43% | 8.36% | 7.49% | 8.38% | 13.15% |
| Income Tax | 104.75B | 141.02B | 90.07B | 102.44B | 51.66B | 49.35B | 61.34B | 60.04B | 49.73B | 48.15B | 45.04B | 21.71B | 22.6B | 38.36B | 36.66B | 33.38B | 26.49B | 26.37B | 25.48B | 13.56B | 7.86B | 3.93B | 1.01B | 8.51B | 7.21B | 1.82B | 5.09B | 9.06B |
| Effective Tax Rate % | 28.94% | 36.24% | 33.01% | 44.82% | 22.72% | 30.84% | 25.87% | 36.31% | 30.33% | 34.65% | 32.1% | 22.51% | 20.28% | 30.37% | 26.33% | 25.97% | 22.94% | 21.03% | 24.76% | 15.42% | 13.24% | 8.94% | 6.02% | 20.48% | 17.9% | 5.45% | 15.79% | 16.55% |
| Net Income | 255.5B | 245.96B | 179.56B | 123.21B | 173.07B | 109.65B | 174.23B | 104.38B | 113.14B | 89.31B | 95.03B | 74.44B | 87.58B | 87.3B | 102.55B | 95.17B | 88.98B | 99.04B | 77.37B | 74.3B | 51.55B | 40B | 15.75B | 33.02B | 33.07B | 31.5B | 27.16B | 45.71B |
| Net Margin % | 8.03% | 7.22% | 6.55% | 4.72% | 6.98% | 7.18% | 9.77% | 5.77% | 6.37% | 5.09% | 4.68% | 4.2% | 5.85% | 7.48% | 9.87% | 11.66% | 12.47% | 11.19% | 12.82% | 13.6% | 11.71% | 9.71% | 4.07% | 8.29% | 6.86% | 7.08% | 7.06% | 10.97% |
| Net Income Growth % | 3.88% | 36.98% | 45.74% | -28.81% | 57.85% | -37.07% | 66.92% | -7.75% | 26.68% | -6.01% | 27.66% | -15% | 0.32% | -14.87% | 7.76% | 6.96% | -10.16% | 28.01% | 4.13% | 44.12% | 28.88% | 153.91% | -52.29% | -0.14% | 4.97% | 15.99% | -40.59% | - |
| Net Income (Continuing) | 257.19B | 248.06B | 182.77B | 126.12B | 175.68B | 110.65B | 175.76B | 105.29B | 114.26B | 90.81B | 95.28B | 74.75B | 88.84B | 87.93B | 102.56B | 95.17B | 88.98B | 99.02B | 77.41B | 74.33B | 51.54B | 42.31B | 16.73B | 33.35B | 34.4B | 31.5B | 27.16B | 46.84B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 39.27B | 37.99B | 34.69B | 28.14B | 25.27B | 20.38B | 20.25B | 19.9B | 21.92B | 21.56B | 21.06B | 21.7B | 20.76B | 19.44B | 9.02M | 8.33M | 10.43M | 1.39B | 1.29B | 1.17B | 1.12B | 51.67M | 48.16M | 49.71M | 45.6M | 18.32M | 10.15B | 9.6B |
| EPS (Diluted) | 1699.82 | 1636.72 | 1196.74 | 814.77 | 1149.07 | 725.69 | 1156.96 | 693.72 | 716.53 | 567.09 | 602.09 | 472.75 | 555.88 | 653.98 | 807.68 | 749.62 | 699.97 | 781.82 | 608.85 | 588.58 | 406.81 | 55.66 | 22.01 | 43.86 | 45.24 | 41.42 | 32.65 | 57.36 |
| EPS Growth % | 3.86% | 36.76% | 46.88% | -29.09% | 58.34% | -37.28% | 66.78% | -3.18% | 26.35% | -5.81% | 27.36% | -14.95% | -15% | -19.03% | 7.75% | 7.09% | -10.47% | 28.41% | 3.44% | 44.68% | 630.93% | 152.91% | -49.83% | -3.05% | 9.22% | 26.89% | -43.09% | - |
| EPS (Basic) | 1699.82 | 1636.72 | 1196.74 | 814.77 | 1149.07 | 725.69 | 1156.96 | 693.72 | 716.53 | 567.09 | 602.09 | 472.75 | 555.88 | 653.98 | 807.68 | 749.62 | 699.97 | 781.82 | 608.85 | 588.58 | 406.81 | 55.66 | 22.01 | 43.86 | 45.24 | 41.42 | 32.65 | 57.36 |
| Diluted Shares Outstanding | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 157.76M | 157.76M | 157.76M | 157.76M | 157.76M | 133.6M | 126.71M | 126.71M | 126.71M | 126.71M | 126.71M | 126.71M | 126.71M | 760.27M | 760.27M | 760.27M | 760.28M | 760.27M | 760.27M | 760.27M |
| Basic Shares Outstanding | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 150.59M | 157.76M | 157.76M | 157.77M | 157.76M | 157.76M | 133.6M | 126.71M | 126.71M | 126.71M | 126.71M | 126.71M | 126.71M | 126.71M | 760.27M | 760.27M | 760.27M | 760.28M | 760.27M | 760.27M | 760.27M |
| Dividend Payout Ratio | 72.9% | 64.4% | 92.38% | 222.64% | 61.45% | 91.19% | 49.51% | 83.86% | 66.26% | 75.68% | 57.16% | 70.22% | 83.4% | 79.92% | 69.14% | 69.9% | 2.23% | 2.64% | 110.28% | 2% | 2720.31% | 8595.49% | 343.82% | 178.01% | 184.2% | 223.64% | 72.49% | 36.48% |
Regional Macroeconomic Volatility
As indicated by the most recent quarterly data, AKO-A experienced a revenue contraction of 12.2% in 2025Q4, highlighting the inherent instability in top-line performance when compared to the 78.8% surge observed in 2024Q4, largely driven by regional currency fluctuations and seasonal demand shifts across the Southern Cone.
The erratic revenue growth profile suggests that the company is highly susceptible to external macroeconomic factors rather than consistent organic volume expansion. Investors should monitor whether the recent decline reflects a structural weakening in consumer purchasing power or merely a temporary reversal of previous inflationary pricing gains.
Based on reported financial statements, AKO-A maintained a gross margin of 40.3% in 2025Q4, demonstrating a notable ability to preserve pricing power despite the significant revenue volatility and the ongoing pressures of managing USD-denominated raw material costs within highly competitive, inflation-sensitive Latin American beverage markets.
The stability of the gross margin suggests that management has successfully utilized its returnable packaging infrastructure to mitigate input cost spikes. However, the reliance on concentrate pricing agreements with The Coca-Cola Company may limit the upside potential for margin expansion even if commodity prices moderate.
According to the income statement data, the operating margin fluctuated between 9.6% and 17.8% over the last ten quarters, suggesting that AKO-A struggles to achieve consistent operating leverage as SG&A expenses often scale in tandem with revenue, preventing significant margin expansion during periods of top-line growth.
The lack of clear operating leverage implies that the company's distribution-heavy model requires substantial fixed-cost investment that does not easily scale down during revenue contractions. This warrants further investigation into whether recent investments in automated warehousing will eventually yield the expected efficiency gains in the coming fiscal years.
As reported in recent filings, the company's net income is subject to significant quarterly variance, with EPS growth swinging from a 101.7% increase in 2024Q2 to a 40.3% decline in 2024Q3, which may indicate that reported earnings are heavily influenced by non-operating items and hyperinflationary accounting adjustments.
Short-term volatility in net income suggests that the underlying operational performance may be obscured by the accounting treatment of regional currency devaluation. Investors should remain cautious, as the reported earnings may not accurately reflect the cash-generating capacity of the business in a stable economic environment.
Quick answers to the most common questions about buying AKO-A stock.
For fiscal year 2025, Embotelladora Andina S.A. (AKO-A) reported total revenue of $3.18T. This represents a 663.6% increase compared to $416.53B in 1998.
Embotelladora Andina S.A. (AKO-A) is profitable, generating $255.50B in net income for the fiscal year ending 2025 with a net profit margin of 8.0%.
Embotelladora Andina S.A. (AKO-A) reported an operating income of $416.46B, resulting in an operating profit margin of 13.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Embotelladora Andina S.A. (AKO-A) generated $1.24T in gross profit for the year, representing a gross profit margin of 39.1%. This demonstrates the company's core pricing power and production efficiency.