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Coca-Cola Consolidated, Inc. (COKE) 10-Year Financial Performance & Capital Metrics

COKE • • Industrial / General
Consumer DefensiveNon-Alcoholic BeveragesCarbonated Soft Drinks & BottlersCoca-Cola System Bottlers
AboutCoca-Cola Consolidated, Inc., together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages, such as carbonated beverages; and still beverages, including energy products, as well as noncarbonated beverages comprising bottled water, ready to drink coffee and tea, enhanced water, juices, and sports drinks. It also sells its products to other Coca-Cola bottlers; and post-mix products that are dispensed through equipment, which mixes the fountain syrup with carbonated or still water enabling fountain retailers to sell finished products to consumers in cups or glasses. In addition, the company distributes products for various other beverage brands that include Dr Pepper and Monster Energy. It sells and distributes its products directly to grocery stores, mass merchandise stores, club stores, convenience stores, and drug stores; and restaurants, schools, amusement parks, and recreational facilities, as well as through vending machine outlets. The company was formerly known as Coca-Cola Bottling Co. Consolidated and changed its name to Coca-Cola Consolidated, Inc. in January 2019. Coca-Cola Consolidated, Inc. was incorporated in 1980 and is headquartered in Charlotte, North Carolina.Show more
  • Revenue $6.9B +3.7%
  • EBITDA $1.11B +10.2%
  • Net Income $633M +55.0%
  • EPS (Diluted) 6.99 +60.7%
  • Gross Margin 39.9% +2.2%
  • EBITDA Margin 16.15% +6.2%
  • Operating Margin 13.34% +6.4%
  • Net Margin 9.18% +49.5%
  • ROE 44.38% +38.6%
  • ROIC 37.07% -5.0%
  • Debt/Equity 1.35 +162.7%
  • Interest Coverage 498.02
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 41.2%
  • ✓Strong 5Y profit CAGR of 102.6%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Share count reduced 3.6% through buybacks
  • ✓Efficient asset utilization: 1.3x turnover

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.73%
5Y7.41%
3Y7.44%
TTM3.22%

Profit (Net Income) CAGR

10Y35.06%
5Y102.57%
3Y49.47%
TTM15.62%

EPS CAGR

10Y35.42%
5Y103.56%
3Y51.25%
TTM28.3%

ROCE

10Y Avg13.53%
5Y Avg21.27%
3Y Avg25.69%
Latest25.57%

Peer Comparison

Coca-Cola System Bottlers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CCEPCoca-Cola Europacific Partners PLC40.13B89.4729.0511.67%7.86%36.99%5.66%1.26
COKECoca-Cola Consolidated, Inc.8.6B151.9721.743.69%8.43%35.92%5.88%1.35
KOFCoca-Cola FEMSA, S.A.B. de C.V.21.05B100.200.8914.16%8.18%16.3%79.1%0.52
AKO-AEmbotelladora Andina S.A.1.93B24.500.0223.14%7.81%23.29%100%1.10

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.31B3.16B4.32B4.63B4.83B5.01B5.56B6.2B6.65B6.9B
Revenue Growth %0.32%0.37%0.37%0.07%0.04%0.04%0.11%0.11%0.07%0.04%
Cost of Goods Sold+1.41B1.94B2.78B3.07B3.16B3.24B3.61B3.92B4.06B4.15B
COGS % of Revenue0.61%0.61%0.64%0.66%0.65%0.65%0.65%0.63%0.61%0.6%
Gross Profit+901.03M1.19B1.5B1.56B1.67B1.77B1.95B2.28B2.6B2.75B
Gross Margin %0.39%0.38%0.35%0.34%0.35%0.35%0.35%0.37%0.39%0.4%
Gross Profit Growth %0.28%0.32%0.27%0.03%0.07%0.06%0.1%0.17%0.14%0.06%
Operating Expenses+802.89M1.06B1.4B1.5B1.49B1.46B1.52B1.64B1.76B1.83B
OpEx % of Revenue0.35%0.34%0.32%0.32%0.31%0.29%0.27%0.26%0.27%0.27%
Selling, General & Admin802.89M1.06B1.4B1.5B1.49B1.46B1.52B1.64B1.76B1.83B
SG&A % of Revenue0.35%0.34%0.32%0.32%0.31%0.29%0.27%0.26%0.27%0.27%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses0000000000
Operating Income+98.14M131.2M101.55M57.9M180.75M313.38M439.17M641.05M834.45M920.35M
Operating Margin %0.04%0.04%0.02%0.01%0.04%0.06%0.08%0.1%0.13%0.13%
Operating Income Growth %0.14%0.34%-0.23%-0.43%2.12%0.73%0.4%0.46%0.3%0.1%
EBITDA+179.04M247.82M270.39M245.16M360.67M492.39M619.74M812.64M1.01B1.11B
EBITDA Margin %0.08%0.08%0.06%0.05%0.07%0.1%0.11%0.13%0.15%0.16%
EBITDA Growth %0.22%0.38%0.09%-0.09%0.47%0.37%0.26%0.31%0.24%0.1%
D&A (Non-Cash Add-back)80.9M116.62M168.84M187.26M179.92M179.02M180.56M171.59M176.97M193.79M
EBIT128.04M129.04M104.88M37.22M80.22M277.77M288.6M599.88M834.45M858.5M
Net Interest Income+-28.91M-36.33M-41.87M-50.51M-45.99M-36.73M-33.45M-24.79M918K-1.85M
Interest Income00000000918K0
Interest Expense28.91M36.33M41.87M50.51M45.99M36.73M33.45M24.79M01.85M
Other Income/Expense978K-38.49M-38.54M-71.19M-146.53M-72.34M-184.02M-65.96M-276.97M-63.7M
Pretax Income+99.12M92.71M63.01M-13.29M34.23M241.04M255.15M575.09M557.48M856.65M
Pretax Margin %0.04%0.03%0.01%-0%0.01%0.05%0.05%0.09%0.08%0.12%
Income Tax+34.08M36.05M-39.84M1.87M15.66M58.94M65.57M144.93M149.11M223.53M
Effective Tax Rate %0.6%0.54%1.53%1.5%0.54%0.72%0.74%0.75%0.73%0.74%
Net Income+59M50.15M96.53M-19.93M18.56M172.49M189.58M430.16M408.38M633.13M
Net Margin %0.03%0.02%0.02%-0%0%0.03%0.03%0.07%0.06%0.09%
Net Income Growth %0.88%-0.15%0.93%-1.21%1.93%8.29%0.1%1.27%-0.05%0.55%
Net Income (Continuing)65.04M56.66M102.85M-15.16M18.56M182.1M189.58M430.16M408.38M633.13M
Discontinued Operations0000000000
Minority Interest79.38M85.89M92.2M96.98M104.16M00000
EPS (Diluted)+0.630.541.03-0.210.201.832.024.574.356.99
EPS Growth %0.88%-0.15%0.92%-1.21%1.94%8.15%0.1%1.26%-0.05%0.61%
EPS (Basic)0.640.541.04-0.210.201.842.024.594.367.01
Diluted Shares Outstanding93.28M93.49M115.97M93.5M94.17M94.27M94M94.05M93.92M90.53M
Basic Shares Outstanding92.88M93.09M93.29M93.5M93.7M93.73M93.73M93.74M93.74M90.4M
Dividend Payout Ratio0.16%0.19%0.1%-0.5%0.05%0.05%0.02%0.11%0.29%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+436.02M593.81M794.54M797.42M830.28M851.24M1.08B1.25B1.71B2.55B
Cash & Short-Term Investments55.5M21.85M16.9M13.55M9.61M54.79M142.31M197.65M635.27M1.44B
Cash Only55.5M21.85M16.9M13.55M9.61M54.79M142.31M197.65M635.27M1.14B
Short-Term Investments000000000301.21M
Accounts Receivable236.62M296.98M529.3M509.79M529.63M490.11M546.55M606.35M659.34M683.54M
Days Sales Outstanding37.4534.3444.6840.2340.0535.7335.8635.6936.1736.16
Inventory89.46M143.55M183.62M210.03M225.93M225.76M302.85M347.55M321.93M330.39M
Days Inventory Outstanding23.232724.0824.9726.1325.4430.6332.3428.9829.08
Other Current Assets035.4M52.5M43.84M44.9M60.72M69.45M74.73M65.44M70.45M
Total Non-Current Assets+1.41B1.86B2.28B2.21B2.3B2.37B2.37B2.46B2.58B2.77B
Property, Plant & Equipment565.97M846.54M1.06B1.01B1.13B1.23B1.23B1.33B1.45B1.62B
Fixed Asset Turnover4.08x3.73x4.07x4.56x4.28x4.08x4.51x4.66x4.60x4.26x
Goodwill117.95M144.59M169.32M165.9M165.9M165.9M165.9M165.9M165.9M165.9M
Intangible Assets663.99M778.46M931.67M916.87M890.74M866.56M847.74M851.2M824.64M798.13M
Long-Term Investments00000000073.7M
Other Non-Current Assets63.74M86.09M116.21M115.49M113.27M111.78M120.49M115.89M145.21M107.35M
Total Assets+1.85B2.45B3.07B3.01B3.13B3.22B3.45B3.71B4.29B5.31B
Asset Turnover1.25x1.29x1.41x1.54x1.54x1.55x1.61x1.67x1.55x1.30x
Asset Growth %0.29%0.32%0.25%-0.02%0.04%0.03%0.07%0.08%0.16%0.24%
Total Current Liabilities+326.55M457.91M639.45M601.74M622.2M647.06M834.86M905.16M1.09B1.31B
Accounts Payable82.94M116.82M197.05M152.04M187.48M217.56M319.32M351.73M383.56M334.88M
Days Payables Outstanding21.5421.9725.8518.0821.6824.5232.332.7334.5229.48
Short-Term Debt8.98M19.33M37.26M72.7M20.2M2.79M000349.7M
Deferred Revenue (Current)001000K0000000
Other Current Liabilities63.46M65.41M62.25M41.51M102.49M135.17M161.64M158.63M181.13M202.14M
Current Ratio1.34x1.30x1.24x1.33x1.33x1.32x1.29x1.38x1.56x1.94x
Quick Ratio1.06x0.98x0.96x0.98x0.97x0.97x0.93x0.99x1.27x1.69x
Cash Conversion Cycle39.1439.3742.9247.1244.536.6534.235.330.6235.77
Total Non-Current Liabilities+1.2B1.63B1.97B1.95B2.05B2.06B1.9B1.69B1.76B2.58B
Long-Term Debt619.63M907.25M1.09B1.1B1.03B940.47M723.44M598.82M599.16M1.44B
Capital Lease Obligations48.72M41.19M35.25M26.63M115.17M189.91M187.05M126.28M107.3M94.71M
Deferred Tax Liabilities146.94M174.85M112.36M127.17M125.13M158.13M136.43M150.22M128.44M132.94M
Other Non-Current Liabilities382.29M505.25M621.64M694.82M783.4M664.54M745.7M710.44M826.94M820.95M
Total Liabilities1.53B2.09B2.61B2.55B2.68B2.71B2.73B2.59B2.85B3.9B
Total Debt+684.39M975.3M1.17B1.21B1.19B1.16B938.6M755.04M735.14M1.91B
Net Debt628.89M953.45M1.15B1.2B1.18B1.1B796.29M557.39M99.87M771.17M
Debt / Equity2.12x2.69x2.55x2.66x2.64x2.26x1.32x0.68x0.51x1.35x
Debt / EBITDA3.82x3.94x4.32x4.95x3.30x2.35x1.51x0.93x0.73x1.71x
Net Debt / EBITDA3.51x3.85x4.26x4.89x3.27x2.24x1.28x0.69x0.10x0.69x
Interest Coverage3.39x3.61x2.43x1.15x3.93x8.53x13.13x25.86x-498.02x
Total Equity+322.43M363.02M458.91M455.17M451.12M512.99M711.79M1.12B1.44B1.42B
Equity Growth %0.25%0.13%0.26%-0.01%-0.01%0.14%0.39%0.57%0.29%-0.01%
Book Value per Share3.463.883.964.874.795.447.5711.8615.2915.66
Total Shareholders' Equity243.06M277.13M366.7M358.19M346.95M512.99M711.79M1.12B1.44B1.42B
Common Stock12.98M13M13.02M13.04M13.06M13.06M13.06M13.06M13.06M12.47M
Retained Earnings260.67M301.51M388.72M359.44M381.16M544.28M724.49M1.11B1.35B1.4B
Treasury Stock-61.25M-61.25M-61.25M-61.25M-61.25M-61.25M-61.25M-61.25M-61.25M-127.88M
Accumulated OCI-82.41M-92.9M-94.2M-77.27M-115M-119.05M-100.46M-84.84M-4.28M1.89M
Minority Interest79.38M85.89M92.2M96.98M104.16M00000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+108.29M162M307.82M168.88M290.37M494.46M521.75M554.51M810.69M876.36M
Operating CF Margin %0.05%0.05%0.07%0.04%0.06%0.1%0.09%0.09%0.12%0.13%
Operating CF Growth %0.18%0.5%0.9%-0.45%0.72%0.7%0.06%0.06%0.46%0.08%
Net Income65.04M56.66M102.85M-15.16M18.56M172.49M189.58M430.16M408.38M633.13M
Depreciation & Amortization80.9M116.62M168.84M187.26M179.92M179.02M180.56M171.59M176.97M193.79M
Stock-Based Compensation7.3M7.15M7.92M5.61M2.04M9.2M9.8M10.1M00
Deferred Taxes10.41M42.94M-58.11M9.37M3.99M46.15M-27.92M-9.76M-49.02M2.53M
Other Non-Cash Items-26.59M3.94M105.07M28.97M109.55M8.47M146.86M28.86M280.32M59.5M
Working Capital Changes-28.77M-65.32M-18.76M-47.16M-23.68M79.13M22.87M-76.44M-5.95M-12.59M
Change in Receivables-72.08M-88.93M-130.39M-30.87M-4.62M35.16M-43.62M-58.58M-53M-24.15M
Change in Inventory-13.85M-8.3M2.53M-26.41M-15.89M169K-77.09M-44.69M25.61M-8.46M
Change in Payables21.73M32.19M73.6M-36.35M28.81M29.86M84.96M40.53M-6.19M11.28M
Cash from Investing+-217.34M-452.03M-458.89M-143.94M-173.68M-200.42M-161.94M-324.99M-295.35M-682.2M
Capital Expenditures-163.89M-172.59M-176.6M-138.24M-171.37M-202.03M-155.69M-329.26M-282.3M-371.01M
CapEx % of Revenue0.07%0.05%0.04%0.03%0.04%0.04%0.03%0.05%0.04%0.05%
Acquisitions----------
Investments----------
Other Investing1.89M-6.8M-10.04M-1.97M-2.3M3.38M-3.72M7.37M695K569K
Cash from Financing+155.46M256.38M146.13M-28.29M-120.63M-248.86M-272.29M-174.19M-77.72M306.4M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-9.29M-9.31M-9.33M-9.35M-9.37M-9.37M-9.37M-9.37M-46.87M-185.63M
Share Repurchases----------
Other Financing-7.62M-14.49M-17.06M-26.21M-27.6M-143.63M-40.64M-36.83M-28.55M-79.82M
Net Change in Cash----------
Free Cash Flow+-55.6M-10.59M131.22M30.64M119M292.43M366.06M225.25M528.39M505.34M
FCF Margin %-0.02%-0%0.03%0.01%0.02%0.06%0.07%0.04%0.08%0.07%
FCF Growth %-8.37%0.81%13.39%-0.77%2.88%1.46%0.25%-0.38%1.35%-0.04%
FCF per Share-0.60-0.111.130.331.263.103.892.395.635.58
FCF Conversion (FCF/Net Income)1.84x3.23x3.19x-8.47x15.64x2.87x2.75x1.29x1.99x1.38x
Interest Paid0000000000
Taxes Paid00000070.99M140.99M200.81M0

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)20.37%14.63%23.49%-4.36%4.1%35.78%30.96%47.08%32.02%44.38%
Return on Invested Capital (ROIC)8.63%8.68%5.2%2.66%8.25%14.47%21.08%30.23%39.01%37.07%
Gross Margin39.07%37.68%34.81%33.63%34.61%35.33%35.13%36.74%39.06%39.9%
Net Margin2.56%1.59%2.23%-0.43%0.38%3.44%3.41%6.94%6.14%9.18%
Debt / Equity2.12x2.69x2.55x2.66x2.64x2.26x1.32x0.68x0.51x1.35x
Interest Coverage3.39x3.61x2.43x1.15x3.93x8.53x13.13x25.86x-498.02x
FCF Conversion1.84x3.23x3.19x-8.47x15.64x2.87x2.75x1.29x1.99x1.38x
Revenue Growth32.07%36.85%36.98%6.98%4.35%3.75%11.09%11.47%7.3%3.69%

Revenue by Segment

2015201620172018201920202021202220232024
Nonalcoholic Beverage---4.51B4.69B4.88B5.43B6.08B6.56B6.84B
Nonalcoholic Beverage Growth----4.04%3.94%11.34%11.94%7.91%4.21%
Other Operating---------346.38M
Other Operating Growth----------
Others-----332.73M366.86M399.36M370.75M-
Others Growth------10.26%8.86%-7.16%-
All Others---358.63M345M-----
All Others Growth-----3.80%-----
Bottle Or Can Sales1.9B2.66B3.61B-------
Bottle Or Can Sales Growth-39.71%35.94%-------
Bottle Or Can Sales Sparkling Beverages1.5B1.76B2.29B-------
Bottle Or Can Sales Sparkling Beverages Growth-17.35%29.53%-------
Bottle Or Can Sales Still Beverages397.9M892.13M1.33B-------
Bottle Or Can Sales Still Beverages Growth-124.21%48.63%-------
Other Products Sales404.87M499.75M712.08M-------
Other Products Sales Growth-23.43%42.49%-------
Other Products Sales To Other Coca Cola Bottlers178.78M238.18M383.06M-------
Other Products Sales To Other Coca Cola Bottlers Growth-33.23%60.83%-------
Other Products Sales Post Mix And Other226.1M261.56M329.01M-------
Other Products Sales Post Mix And Other Growth-15.69%25.79%-------

Frequently Asked Questions

Valuation & Price

Coca-Cola Consolidated, Inc. (COKE) has a price-to-earnings (P/E) ratio of 21.7x. This is roughly in line with market averages.

Growth & Financials

Coca-Cola Consolidated, Inc. (COKE) reported $6.95B in revenue for fiscal year 2024. This represents a 345% increase from $1.56B in 2011.

Coca-Cola Consolidated, Inc. (COKE) grew revenue by 3.7% over the past year. Growth has been modest.

Yes, Coca-Cola Consolidated, Inc. (COKE) is profitable, generating $585.6M in net income for fiscal year 2024 (9.2% net margin).

Dividend & Returns

Yes, Coca-Cola Consolidated, Inc. (COKE) pays a dividend with a yield of 1.35%. This makes it attractive for income-focused investors.

Coca-Cola Consolidated, Inc. (COKE) has a return on equity (ROE) of 44.4%. This is excellent, indicating efficient use of shareholder capital.

Coca-Cola Consolidated, Inc. (COKE) generated $476.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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