The Coca-Cola Company (KO) 10-Year Financial Performance & Capital Metrics

KO •

Consumer DefensiveNon-Alcoholic BeveragesGlobal Soft Drink Brand Owners

AboutThe Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores. The company sells its products under the Coca-Cola, Diet Coke/Coca-Cola Light, Coca-Cola Zero Sugar, caffeine free Diet Coke, Cherry Coke, Fanta Orange, Fanta Zero Orange, Fanta Zero Sugar, Fanta Apple, Sprite, Sprite Zero Sugar, Simply Orange, Simply Apple, Simply Grapefruit, Fresca, Schweppes, Thums Up, Aquarius, Ayataka, BODYARMOR, Ciel, Costa, Dasani, dogadan, FUZE TEA, Georgia, glacéau smartwater, glacéau vitaminwater, Gold Peak, Ice Dew, I LOHAS, Powerade, Topo Chico, AdeS, Del Valle, fairlife, innocent, Minute Maid, and Minute Maid Pulpy brands. It operates through a network of independent bottling partners, distributors, wholesalers, and retailers, as well as through bottling and distribution operators. The company was founded in 1886 and is headquartered in Atlanta, Georgia.Show more

Revenue $47.94B +1.9%
EBITDA $14.81B +33.8%
Net Income $13.11B +23.3%
EPS (Diluted) 3.04 +23.6%
Gross Margin 61.63% +0.9%
EBITDA Margin 30.9% +31.4%
Operating Margin 28.71% +35.2%
Net Margin 27.34% +21.0%
ROE 43.22% +9.5%
ROIC 15.78% +29.4%
Debt/Equity 1.33 -23.5%
Interest Coverage 8.32 +37.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Dividend Aristocrat: 35 years of consecutive increases
✓Excellent 3Y average ROE of 41.0%
✓Strong Piotroski F-Score: 7/9
✓Healthy dividend yield of 2.5%
✓Healthy 5Y average net margin of 24.2%
✓Trading near 52-week high

✗Weaknesses

✗Expensive at 10.3x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.79%

5Y7.75%

3Y3.69%

TTM1.87%

Profit (Net Income) CAGR

10Y5.95%

5Y11.09%

3Y11.16%

TTM23.29%

EPS CAGR

10Y6.17%

5Y11.17%

3Y11.55%

TTM23.08%

ROCE

10Y Avg14.89%

5Y Avg14.98%

3Y Avg15.36%

Latest17.33%

Peer Comparison

Global Soft Drink Brand Owners

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PEPPepsiCo, Inc.	231.98B	169.74	28.29	2.25%	8.77%	40.1%	3.31%	2.43
KOThe Coca-Cola Company	350.84B	81.56	26.83	1.87%	27.34%	38.24%	1.51%	1.33
FIZZNational Beverage Corp.	3.4B	36.35	18.27	0.81%	15.45%	36.86%	5.01%	0.16
ZVIAZevia PBC	10.2M	1.34	-8.93	4.01%	-6.15%	-27.86%		0.02

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	41.86B	36.21B	34.3B	37.27B	33.01B	38.66B	43B	45.75B	47.06B	47.94B
Revenue Growth %	-5.49%	-13.5%	-5.28%	8.65%	-11.41%	17.09%	11.25%	6.39%	2.86%	1.87%
Cost of Goods Sold+	16.46B	13.72B	13.07B	14.62B	13.43B	15.36B	18B	18.52B	18.32B	18.4B
COGS % of Revenue	39.33%	37.89%	38.1%	39.23%	40.69%	39.73%	41.86%	40.48%	38.94%	38.37%
Gross Profit+	25.4B	22.49B	21.23B	22.65B	19.58B	23.3B	25B	27.23B	28.74B	29.54B
Gross Margin %	60.67%	62.11%	61.9%	60.77%	59.31%	60.27%	58.14%	59.52%	61.06%	61.63%
Gross Profit Growth %	-5.27%	-11.45%	-5.59%	6.66%	-13.54%	18.98%	7.32%	8.92%	5.52%	2.81%
Operating Expenses+	16.74B	14.74B	12.08B	12.56B	10.58B	12.99B	14.1B	15.92B	18.75B	15.78B
OpEx % of Revenue	39.99%	40.69%	35.22%	33.71%	32.06%	33.61%	32.78%	34.8%	39.83%	32.92%
Selling, General & Admin	15.4B	12.9B	11.01B	12.01B	9.56B	11.87B	12.66B	13.99B	14.44B	14.52B
SG&A % of Revenue	36.79%	35.63%	32.11%	32.21%	28.97%	30.69%	29.45%	30.57%	30.69%	30.29%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.34B	1.83B	1.07B	556M	1.02B	1.13B	1.43B	1.94B	4.3B	1.26B
Operating Income+	8.66B	7.75B	9.15B	10.09B	9B	10.31B	10.91B	11.31B	9.99B	13.76B
Operating Margin %	20.68%	21.42%	26.68%	27.06%	27.25%	26.67%	25.37%	24.72%	21.23%	28.71%
Operating Income Growth %	-0.81%	-10.42%	18.01%	10.21%	-10.8%	14.57%	5.83%	3.69%	-11.66%	37.73%
EBITDA+	10.44B	9.02B	10.24B	11.45B	10.53B	11.76B	12.17B	12.44B	11.07B	14.81B
EBITDA Margin %	24.95%	24.9%	29.85%	30.73%	31.9%	30.42%	28.3%	27.19%	23.52%	30.9%
EBITDA Growth %	-2.37%	-13.68%	13.57%	11.85%	-8.02%	11.65%	3.48%	2.22%	-11.03%	33.84%
D&A (Non-Cash Add-back)	1.79B	1.26B	1.09B	1.36B	1.54B	1.45B	1.26B	1.13B	1.07B	1.05B
EBIT	8.87B	7.74B	9.18B	11.73B	11.19B	14.02B	12.57B	14.48B	14.74B	17.65B
Net Interest Income+	-91M	-174M	-261M	-383M	-1.07B	-1.32B	-433M	-620M	-668M	-868M
Interest Income	642M	679M	689M	563M	370M	276M	449M	907M	988M	786M
Interest Expense	733M	853M	950M	946M	1.44B	1.6B	882M	1.53B	1.66B	1.65B
Other Income/Expense	-521M	-865M	-927M	700M	752M	2.12B	777M	1.64B	3.09B	2.24B
Pretax Income+	8.14B	6.89B	8.22B	10.79B	9.75B	12.43B	11.69B	12.95B	13.09B	16B
Pretax Margin %	19.43%	19.03%	23.98%	28.94%	29.53%	32.14%	27.17%	28.31%	27.81%	33.37%
Income Tax+	1.59B	5.61B	1.75B	1.8B	1.98B	2.62B	2.12B	2.25B	2.44B	2.86B
Effective Tax Rate %	80.22%	18.11%	78.22%	82.7%	79.46%	78.64%	81.65%	82.72%	81.24%	81.93%
Net Income+	6.53B	1.25B	6.43B	8.92B	7.75B	9.77B	9.54B	10.71B	10.63B	13.11B
Net Margin %	15.59%	3.45%	18.76%	23.94%	23.47%	25.28%	22.19%	23.42%	22.59%	27.34%
Net Income Growth %	-11.21%	-80.88%	415.54%	38.64%	-13.15%	26.13%	-2.34%	12.28%	-0.77%	23.29%
Net Income (Continuing)	6.55B	1.28B	6.48B	8.98B	7.77B	9.8B	9.57B	10.7B	10.65B	13.14B
Discontinued Operations	0	101M	0	0	0	0	0	0	0	0
Minority Interest	158M	1.91B	2.08B	2.12B	1.99B	1.86B	1.72B	1.54B	1.52B	2.11B
EPS (Diluted)+	1.49	0.29	1.50	2.07	1.79	2.25	2.19	2.47	2.46	3.04
EPS Growth %	-10.78%	-80.54%	417.24%	38%	-13.53%	25.7%	-2.67%	12.79%	-0.4%	23.58%
EPS (Basic)	1.51	0.29	1.51	2.09	1.80	2.26	2.20	2.48	2.47	3.05
Diluted Shares Outstanding	4.37B	4.32B	4.3B	4.31B	4.32B	4.34B	4.35B	4.34B	4.32B	4.31B
Basic Shares Outstanding	4.32B	4.27B	4.26B	4.28B	4.29B	4.32B	4.33B	4.32B	4.31B	4.3B
Dividend Payout Ratio	92.58%	506.41%	103.26%	76.74%	90.96%	74.22%	79.82%	74.22%	78.63%	66.98%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	34.01B	36.55B	24.93B	20.41B	19.24B	22.55B	22.59B	26.73B	26B	31.04B
Cash & Short-Term Investments	22.2B	20.68B	16.11B	11.18B	10.91B	12.63B	11.63B	13.66B	14.57B	13.87B
Cash Only	8.55B	6.01B	9.08B	6.48B	6.79B	9.68B	9.52B	9.37B	10.83B	10.27B
Short-Term Investments	13.65B	14.67B	7.04B	4.7B	4.12B	2.94B	2.11B	4.3B	3.74B	3.6B
Accounts Receivable	3.86B	3.67B	3.69B	3.97B	3.14B	3.51B	3.49B	3.41B	3.57B	3.04B
Days Sales Outstanding	33.62	36.96	39.21	38.89	34.76	33.16	29.6	27.2	27.68	23.13
Inventory	2.67B	2.65B	3.07B	3.38B	3.27B	3.41B	4.23B	4.42B	4.73B	4.42B
Days Inventory Outstanding	59.3	70.63	85.78	84.37	88.74	81.14	85.84	87.19	94.18	87.79
Other Current Assets	2.8B	7.55B	2.06B	1.89B	1.92B	2.99B	3.24B	5.24B	3.13B	9.71B
Total Non-Current Assets+	53.26B	51.35B	58.29B	65.97B	68.06B	71.81B	70.17B	70.97B	74.55B	73.77B
Property, Plant & Equipment	10.63B	8.2B	9.6B	10.84B	10.78B	9.92B	9.84B	9.24B	11.48B	9.61B
Fixed Asset Turnover	3.94x	4.41x	3.57x	3.44x	3.06x	3.90x	4.37x	4.95x	4.10x	4.99x
Goodwill	10.63B	9.4B	14.11B	16.76B	17.51B	19.36B	18.78B	18.36B	18.14B	15.49B
Intangible Assets	10.5B	7.24B	7.48B	10B	11.04B	15.25B	14.85B	14.87B	13.3B	12.53B
Long-Term Investments	17.25B	21.95B	20.28B	19.88B	20.09B	18.42B	18.77B	19.79B	19.27B	20.23B
Other Non-Current Assets	495M	2.04B	4.15B	6.08B	6.18B	6.73B	6.19B	7.16B	11.03B	14.7B
Total Assets+	87.27B	87.9B	83.22B	86.38B	87.3B	94.35B	92.76B	97.7B	100.55B	104.82B
Asset Turnover	0.48x	0.41x	0.41x	0.43x	0.38x	0.41x	0.46x	0.47x	0.47x	0.46x
Asset Growth %	-3.03%	0.72%	-5.32%	3.8%	1.06%	8.09%	-1.69%	5.33%	2.91%	4.24%
Total Current Liabilities+	26.53B	27.19B	28.78B	26.97B	14.6B	19.95B	19.72B	23.57B	25.25B	21.28B
Accounts Payable	2.68B	2.29B	2.72B	3.8B	3.52B	4.6B	5.31B	5.59B	5.47B	14.81B
Days Payables Outstanding	59.46	60.86	75.95	94.98	95.56	109.38	107.61	110.17	108.92	293.89
Short-Term Debt	16.02B	16.5B	18.84B	15.53B	2.99B	4.96B	3.11B	6.88B	2.44B	3.37B
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	5.97B	7.14B	5.9B	6.21B	6.7B	8.66B	9.01B	8.07B	14.49B	2.57B
Current Ratio	1.28x	1.34x	0.87x	0.76x	1.32x	1.13x	1.15x	1.13x	1.03x	1.46x
Quick Ratio	1.18x	1.25x	0.76x	0.63x	1.09x	0.96x	0.93x	0.95x	0.84x	1.25x
Cash Conversion Cycle	33.47	46.72	49.05	28.28	27.94	4.93	7.82	4.22	12.94	-182.97
Total Non-Current Liabilities+	37.52B	41.73B	35.38B	38.31B	51.41B	49.54B	47.21B	46.65B	48.93B	49.26B
Long-Term Debt	29.68B	31.18B	25.38B	27.52B	40.13B	38.12B	36.38B	35.55B	42.38B	42.12B
Capital Lease Obligations	0	0	0	1.11B	1.3B	1.16B	1.11B	1B	923M	0
Deferred Tax Liabilities	3.75B	2.52B	2.35B	2.28B	1.83B	2.82B	2.91B	2.64B	2.47B	2.41B
Other Non-Current Liabilities	4.08B	8.02B	7.65B	7.4B	8.15B	7.45B	6.81B	7.46B	3.16B	4.74B
Total Liabilities	64.05B	68.92B	64.16B	65.28B	66.01B	69.49B	66.94B	70.22B	74.18B	70.54B
Total Debt+	45.71B	47.69B	44.21B	44.16B	44.41B	44.23B	40.6B	43.43B	45.73B	45.49B
Net Debt	37.15B	41.68B	35.14B	37.67B	37.62B	34.55B	31.08B	34.06B	34.91B	35.22B
Debt / Equity	1.97x	2.51x	2.32x	2.09x	2.09x	1.78x	1.57x	1.58x	1.73x	1.33x
Debt / EBITDA	4.38x	5.29x	4.32x	3.86x	4.22x	3.76x	3.34x	3.49x	4.13x	3.07x
Net Debt / EBITDA	3.56x	4.62x	3.43x	3.29x	3.57x	2.94x	2.55x	2.74x	3.15x	2.38x
Interest Coverage	11.81x	9.09x	9.63x	10.66x	6.26x	6.45x	12.37x	7.41x	6.03x	8.32x
Total Equity+	23.22B	18.98B	19.06B	21.1B	21.28B	24.86B	25.83B	27.48B	26.37B	34.27B
Equity Growth %	-9.87%	-18.27%	0.43%	10.7%	0.88%	16.8%	3.89%	6.4%	-4.03%	29.97%
Book Value per Share	5.32	4.39	4.43	4.89	4.92	5.73	5.94	6.33	6.10	7.95
Total Shareholders' Equity	23.06B	17.07B	16.98B	18.98B	19.3B	23B	24.11B	25.94B	24.86B	32.17B
Common Stock	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B
Retained Earnings	65.5B	60.43B	63.23B	65.81B	66.56B	69.09B	71.02B	73.78B	76.05B	80.38B
Treasury Stock	-47.99B	-50.68B	-51.72B	-52.24B	-52.02B	-51.64B	-52.6B	-54.53B	-55.92B	-56.42B
Accumulated OCI	-11.21B	-10.3B	-12.81B	-13.5B	-14.6B	-14.33B	-14.89B	-14.28B	-16.84B	-14.13B
Minority Interest	158M	1.91B	2.08B	2.12B	1.99B	1.86B	1.72B	1.54B	1.52B	2.11B

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	8.8B	7.11B	7.63B	10.47B	9.84B	12.63B	11.02B	11.6B	6.8B	7.41B
Operating CF Margin %	21.01%	19.62%	22.24%	28.1%	29.82%	32.66%	25.62%	25.35%	14.46%	15.45%
Operating CF Growth %	-16.45%	-19.21%	7.33%	37.29%	-5.99%	28.25%	-12.73%	5.27%	-41.33%	8.86%
Net Income	6.55B	1.18B	6.48B	8.98B	7.77B	9.8B	9.57B	10.71B	10.63B	13.14B
Depreciation & Amortization	1.79B	1.26B	1.09B	1.36B	1.54B	1.45B	1.26B	1.13B	1.07B	1.05B
Stock-Based Compensation	258M	219M	225M	201M	126M	337M	356M	254M	286M	279M
Deferred Taxes	-856M	-1.26B	-413M	-280M	-18M	894M	-122M	-2M	-11M	517M
Other Non-Cash Items	1.28B	2.17B	1.49B	-166M	-258M	-1.19B	558M	351M	1.06B	-367M
Working Capital Changes	-221M	3.53B	-1.24B	366M	690M	1.32B	-605M	-846M	-6.23B	-7.21B
Change in Receivables	-28M	-141M	27M	-158M	882M	-225M	-69M	-2M	-295M	0
Change in Inventory	-142M	-355M	-203M	-183M	99M	-135M	-960M	-597M	-520M	0
Change in Payables	-540M	-445M	-251M	1.32B	-860M	2.84B	759M	841M	1.13B	0
Cash from Investing+	-999M	-2.45B	5.93B	-3.98B	-1.48B	-2.77B	-763M	-3.35B	2.52B	-67M
Capital Expenditures	-2.26B	-1.68B	-1.55B	-2.05B	-1.18B	-1.37B	-1.48B	-1.85B	-2.06B	-2.11B
CapEx % of Revenue	5.4%	4.63%	4.51%	5.51%	3.57%	3.54%	3.45%	4.05%	4.39%	4.41%
Acquisitions	197M	-79M	99M	-5.11B	-863M	-2.59B	385M	442M	3.17B	-461M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-59M	-87M	188M	922M	311M	159M	-684M	405M	469M	434M
Cash from Financing+	-6.54B	-7.45B	-10.35B	-9B	-8.07B	-6.79B	-10.25B	-8.31B	-6.91B	-8.14B
Debt Issued (Net)	1.67B	1.05B	-3B	-1.84B	-1.86B	228M	-958M	1.86B	2.53B	13M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-6.04B	-6.32B	-6.64B	-6.84B	-7.05B	-7.25B	-7.62B	-7.95B	-8.36B	-8.78B
Share Repurchases	-3.68B	-3.68B	-1.91B	-1.1B	-118M	-111M	-1.42B	-2.29B	-1.79B	-746M
Other Financing	79M	-95M	-272M	-227M	310M	-353M	-1.09B	-465M	-31M	1.06B
Net Change in Cash	1.25B	-2.55B	2.94B	-2.58B	373M	2.92B	-200M	-133M	1.8B	-478M
Free Cash Flow+	6.53B	5.43B	6.08B	8.42B	8.67B	11.26B	9.53B	9.75B	4.74B	5.3B
FCF Margin %	15.61%	15%	17.72%	22.59%	26.25%	29.12%	22.17%	21.3%	10.07%	11.05%
FCF Growth %	-18.07%	-16.88%	11.93%	38.46%	2.97%	29.89%	-15.31%	2.23%	-51.36%	11.71%
FCF per Share	1.50	1.26	1.41	1.95	2.00	2.59	2.19	2.25	1.10	1.23
FCF Conversion (FCF/Net Income)	1.35x	5.69x	1.19x	1.17x	1.27x	1.29x	1.15x	1.08x	0.64x	0.57x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	26.65%	5.92%	33.83%	44.43%	36.56%	42.35%	37.65%	40.2%	39.48%	43.22%
Return on Invested Capital (ROIC)	10.56%	9.61%	11.95%	13.39%	11.47%	13.07%	14.07%	14.32%	12.2%	15.78%
Gross Margin	60.67%	62.11%	61.9%	60.77%	59.31%	60.27%	58.14%	59.52%	61.06%	61.63%
Net Margin	15.59%	3.45%	18.76%	23.94%	23.47%	25.28%	22.19%	23.42%	22.59%	27.34%
Debt / Equity	1.97x	2.51x	2.32x	2.09x	2.09x	1.78x	1.57x	1.58x	1.73x	1.33x
Interest Coverage	11.81x	9.09x	9.63x	10.66x	6.26x	6.45x	12.37x	7.41x	6.03x	8.32x
FCF Conversion	1.35x	5.69x	1.19x	1.17x	1.27x	1.29x	1.15x	1.08x	0.64x	0.57x
Revenue Growth	-5.49%	-13.5%	-5.28%	8.65%	-11.41%	17.09%	11.25%	6.39%	2.86%	1.87%

US Stock Screener

...

The Coca-Cola Company (KO) 10-Year Financial Performance & Capital Metrics

KO •

Consumer DefensiveNon-Alcoholic BeveragesGlobal Soft Drink Brand Owners

Revenue $47.94B +1.9%
EBITDA $14.81B +33.8%
Net Income $13.11B +23.3%
EPS (Diluted) 3.04 +23.6%
Gross Margin 61.63% +0.9%
EBITDA Margin 30.9% +31.4%
Operating Margin 28.71% +35.2%
Net Margin 27.34% +21.0%
ROE 43.22% +9.5%
ROIC 15.78% +29.4%
Debt/Equity 1.33 -23.5%
Interest Coverage 8.32 +37.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Dividend Aristocrat: 35 years of consecutive increases
✓Excellent 3Y average ROE of 41.0%
✓Strong Piotroski F-Score: 7/9
✓Healthy dividend yield of 2.5%
✓Healthy 5Y average net margin of 24.2%
✓Trading near 52-week high

✗Weaknesses

✗Expensive at 10.3x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.79%

5Y7.75%

3Y3.69%

TTM1.87%

Profit (Net Income) CAGR

10Y5.95%

5Y11.09%

3Y11.16%

TTM23.29%

EPS CAGR

10Y6.17%

5Y11.17%

3Y11.55%

TTM23.08%

ROCE

10Y Avg14.89%

5Y Avg14.98%

3Y Avg15.36%

Latest17.33%

Peer Comparison

Global Soft Drink Brand Owners

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PEPPepsiCo, Inc.	231.98B	169.74	28.29	2.25%	8.77%	40.1%	3.31%	2.43
KOThe Coca-Cola Company	350.84B	81.56	26.83	1.87%	27.34%	38.24%	1.51%	1.33
FIZZNational Beverage Corp.	3.4B	36.35	18.27	0.81%	15.45%	36.86%	5.01%	0.16
ZVIAZevia PBC	10.2M	1.34	-8.93	4.01%	-6.15%	-27.86%		0.02

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	41.86B	36.21B	34.3B	37.27B	33.01B	38.66B	43B	45.75B	47.06B	47.94B
Revenue Growth %	-5.49%	-13.5%	-5.28%	8.65%	-11.41%	17.09%	11.25%	6.39%	2.86%	1.87%
Cost of Goods Sold+	16.46B	13.72B	13.07B	14.62B	13.43B	15.36B	18B	18.52B	18.32B	18.4B
COGS % of Revenue	39.33%	37.89%	38.1%	39.23%	40.69%	39.73%	41.86%	40.48%	38.94%	38.37%
Gross Profit+	25.4B	22.49B	21.23B	22.65B	19.58B	23.3B	25B	27.23B	28.74B	29.54B
Gross Margin %	60.67%	62.11%	61.9%	60.77%	59.31%	60.27%	58.14%	59.52%	61.06%	61.63%
Gross Profit Growth %	-5.27%	-11.45%	-5.59%	6.66%	-13.54%	18.98%	7.32%	8.92%	5.52%	2.81%
Operating Expenses+	16.74B	14.74B	12.08B	12.56B	10.58B	12.99B	14.1B	15.92B	18.75B	15.78B
OpEx % of Revenue	39.99%	40.69%	35.22%	33.71%	32.06%	33.61%	32.78%	34.8%	39.83%	32.92%
Selling, General & Admin	15.4B	12.9B	11.01B	12.01B	9.56B	11.87B	12.66B	13.99B	14.44B	14.52B
SG&A % of Revenue	36.79%	35.63%	32.11%	32.21%	28.97%	30.69%	29.45%	30.57%	30.69%	30.29%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.34B	1.83B	1.07B	556M	1.02B	1.13B	1.43B	1.94B	4.3B	1.26B
Operating Income+	8.66B	7.75B	9.15B	10.09B	9B	10.31B	10.91B	11.31B	9.99B	13.76B
Operating Margin %	20.68%	21.42%	26.68%	27.06%	27.25%	26.67%	25.37%	24.72%	21.23%	28.71%
Operating Income Growth %	-0.81%	-10.42%	18.01%	10.21%	-10.8%	14.57%	5.83%	3.69%	-11.66%	37.73%
EBITDA+	10.44B	9.02B	10.24B	11.45B	10.53B	11.76B	12.17B	12.44B	11.07B	14.81B
EBITDA Margin %	24.95%	24.9%	29.85%	30.73%	31.9%	30.42%	28.3%	27.19%	23.52%	30.9%
EBITDA Growth %	-2.37%	-13.68%	13.57%	11.85%	-8.02%	11.65%	3.48%	2.22%	-11.03%	33.84%
D&A (Non-Cash Add-back)	1.79B	1.26B	1.09B	1.36B	1.54B	1.45B	1.26B	1.13B	1.07B	1.05B
EBIT	8.87B	7.74B	9.18B	11.73B	11.19B	14.02B	12.57B	14.48B	14.74B	17.65B
Net Interest Income+	-91M	-174M	-261M	-383M	-1.07B	-1.32B	-433M	-620M	-668M	-868M
Interest Income	642M	679M	689M	563M	370M	276M	449M	907M	988M	786M
Interest Expense	733M	853M	950M	946M	1.44B	1.6B	882M	1.53B	1.66B	1.65B
Other Income/Expense	-521M	-865M	-927M	700M	752M	2.12B	777M	1.64B	3.09B	2.24B
Pretax Income+	8.14B	6.89B	8.22B	10.79B	9.75B	12.43B	11.69B	12.95B	13.09B	16B
Pretax Margin %	19.43%	19.03%	23.98%	28.94%	29.53%	32.14%	27.17%	28.31%	27.81%	33.37%
Income Tax+	1.59B	5.61B	1.75B	1.8B	1.98B	2.62B	2.12B	2.25B	2.44B	2.86B
Effective Tax Rate %	80.22%	18.11%	78.22%	82.7%	79.46%	78.64%	81.65%	82.72%	81.24%	81.93%
Net Income+	6.53B	1.25B	6.43B	8.92B	7.75B	9.77B	9.54B	10.71B	10.63B	13.11B
Net Margin %	15.59%	3.45%	18.76%	23.94%	23.47%	25.28%	22.19%	23.42%	22.59%	27.34%
Net Income Growth %	-11.21%	-80.88%	415.54%	38.64%	-13.15%	26.13%	-2.34%	12.28%	-0.77%	23.29%
Net Income (Continuing)	6.55B	1.28B	6.48B	8.98B	7.77B	9.8B	9.57B	10.7B	10.65B	13.14B
Discontinued Operations	0	101M	0	0	0	0	0	0	0	0
Minority Interest	158M	1.91B	2.08B	2.12B	1.99B	1.86B	1.72B	1.54B	1.52B	2.11B
EPS (Diluted)+	1.49	0.29	1.50	2.07	1.79	2.25	2.19	2.47	2.46	3.04
EPS Growth %	-10.78%	-80.54%	417.24%	38%	-13.53%	25.7%	-2.67%	12.79%	-0.4%	23.58%
EPS (Basic)	1.51	0.29	1.51	2.09	1.80	2.26	2.20	2.48	2.47	3.05
Diluted Shares Outstanding	4.37B	4.32B	4.3B	4.31B	4.32B	4.34B	4.35B	4.34B	4.32B	4.31B
Basic Shares Outstanding	4.32B	4.27B	4.26B	4.28B	4.29B	4.32B	4.33B	4.32B	4.31B	4.3B
Dividend Payout Ratio	92.58%	506.41%	103.26%	76.74%	90.96%	74.22%	79.82%	74.22%	78.63%	66.98%

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	34.01B	36.55B	24.93B	20.41B	19.24B	22.55B	22.59B	26.73B	26B	31.04B
Cash & Short-Term Investments	22.2B	20.68B	16.11B	11.18B	10.91B	12.63B	11.63B	13.66B	14.57B	13.87B
Cash Only	8.55B	6.01B	9.08B	6.48B	6.79B	9.68B	9.52B	9.37B	10.83B	10.27B
Short-Term Investments	13.65B	14.67B	7.04B	4.7B	4.12B	2.94B	2.11B	4.3B	3.74B	3.6B
Accounts Receivable	3.86B	3.67B	3.69B	3.97B	3.14B	3.51B	3.49B	3.41B	3.57B	3.04B
Days Sales Outstanding	33.62	36.96	39.21	38.89	34.76	33.16	29.6	27.2	27.68	23.13
Inventory	2.67B	2.65B	3.07B	3.38B	3.27B	3.41B	4.23B	4.42B	4.73B	4.42B
Days Inventory Outstanding	59.3	70.63	85.78	84.37	88.74	81.14	85.84	87.19	94.18	87.79
Other Current Assets	2.8B	7.55B	2.06B	1.89B	1.92B	2.99B	3.24B	5.24B	3.13B	9.71B
Total Non-Current Assets+	53.26B	51.35B	58.29B	65.97B	68.06B	71.81B	70.17B	70.97B	74.55B	73.77B
Property, Plant & Equipment	10.63B	8.2B	9.6B	10.84B	10.78B	9.92B	9.84B	9.24B	11.48B	9.61B
Fixed Asset Turnover	3.94x	4.41x	3.57x	3.44x	3.06x	3.90x	4.37x	4.95x	4.10x	4.99x
Goodwill	10.63B	9.4B	14.11B	16.76B	17.51B	19.36B	18.78B	18.36B	18.14B	15.49B
Intangible Assets	10.5B	7.24B	7.48B	10B	11.04B	15.25B	14.85B	14.87B	13.3B	12.53B
Long-Term Investments	17.25B	21.95B	20.28B	19.88B	20.09B	18.42B	18.77B	19.79B	19.27B	20.23B
Other Non-Current Assets	495M	2.04B	4.15B	6.08B	6.18B	6.73B	6.19B	7.16B	11.03B	14.7B
Total Assets+	87.27B	87.9B	83.22B	86.38B	87.3B	94.35B	92.76B	97.7B	100.55B	104.82B
Asset Turnover	0.48x	0.41x	0.41x	0.43x	0.38x	0.41x	0.46x	0.47x	0.47x	0.46x
Asset Growth %	-3.03%	0.72%	-5.32%	3.8%	1.06%	8.09%	-1.69%	5.33%	2.91%	4.24%
Total Current Liabilities+	26.53B	27.19B	28.78B	26.97B	14.6B	19.95B	19.72B	23.57B	25.25B	21.28B
Accounts Payable	2.68B	2.29B	2.72B	3.8B	3.52B	4.6B	5.31B	5.59B	5.47B	14.81B
Days Payables Outstanding	59.46	60.86	75.95	94.98	95.56	109.38	107.61	110.17	108.92	293.89
Short-Term Debt	16.02B	16.5B	18.84B	15.53B	2.99B	4.96B	3.11B	6.88B	2.44B	3.37B
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	5.97B	7.14B	5.9B	6.21B	6.7B	8.66B	9.01B	8.07B	14.49B	2.57B
Current Ratio	1.28x	1.34x	0.87x	0.76x	1.32x	1.13x	1.15x	1.13x	1.03x	1.46x
Quick Ratio	1.18x	1.25x	0.76x	0.63x	1.09x	0.96x	0.93x	0.95x	0.84x	1.25x
Cash Conversion Cycle	33.47	46.72	49.05	28.28	27.94	4.93	7.82	4.22	12.94	-182.97
Total Non-Current Liabilities+	37.52B	41.73B	35.38B	38.31B	51.41B	49.54B	47.21B	46.65B	48.93B	49.26B
Long-Term Debt	29.68B	31.18B	25.38B	27.52B	40.13B	38.12B	36.38B	35.55B	42.38B	42.12B
Capital Lease Obligations	0	0	0	1.11B	1.3B	1.16B	1.11B	1B	923M	0
Deferred Tax Liabilities	3.75B	2.52B	2.35B	2.28B	1.83B	2.82B	2.91B	2.64B	2.47B	2.41B
Other Non-Current Liabilities	4.08B	8.02B	7.65B	7.4B	8.15B	7.45B	6.81B	7.46B	3.16B	4.74B
Total Liabilities	64.05B	68.92B	64.16B	65.28B	66.01B	69.49B	66.94B	70.22B	74.18B	70.54B
Total Debt+	45.71B	47.69B	44.21B	44.16B	44.41B	44.23B	40.6B	43.43B	45.73B	45.49B
Net Debt	37.15B	41.68B	35.14B	37.67B	37.62B	34.55B	31.08B	34.06B	34.91B	35.22B
Debt / Equity	1.97x	2.51x	2.32x	2.09x	2.09x	1.78x	1.57x	1.58x	1.73x	1.33x
Debt / EBITDA	4.38x	5.29x	4.32x	3.86x	4.22x	3.76x	3.34x	3.49x	4.13x	3.07x
Net Debt / EBITDA	3.56x	4.62x	3.43x	3.29x	3.57x	2.94x	2.55x	2.74x	3.15x	2.38x
Interest Coverage	11.81x	9.09x	9.63x	10.66x	6.26x	6.45x	12.37x	7.41x	6.03x	8.32x
Total Equity+	23.22B	18.98B	19.06B	21.1B	21.28B	24.86B	25.83B	27.48B	26.37B	34.27B
Equity Growth %	-9.87%	-18.27%	0.43%	10.7%	0.88%	16.8%	3.89%	6.4%	-4.03%	29.97%
Book Value per Share	5.32	4.39	4.43	4.89	4.92	5.73	5.94	6.33	6.10	7.95
Total Shareholders' Equity	23.06B	17.07B	16.98B	18.98B	19.3B	23B	24.11B	25.94B	24.86B	32.17B
Common Stock	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B	1.76B
Retained Earnings	65.5B	60.43B	63.23B	65.81B	66.56B	69.09B	71.02B	73.78B	76.05B	80.38B
Treasury Stock	-47.99B	-50.68B	-51.72B	-52.24B	-52.02B	-51.64B	-52.6B	-54.53B	-55.92B	-56.42B
Accumulated OCI	-11.21B	-10.3B	-12.81B	-13.5B	-14.6B	-14.33B	-14.89B	-14.28B	-16.84B	-14.13B
Minority Interest	158M	1.91B	2.08B	2.12B	1.99B	1.86B	1.72B	1.54B	1.52B	2.11B

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	8.8B	7.11B	7.63B	10.47B	9.84B	12.63B	11.02B	11.6B	6.8B	7.41B
Operating CF Margin %	21.01%	19.62%	22.24%	28.1%	29.82%	32.66%	25.62%	25.35%	14.46%	15.45%
Operating CF Growth %	-16.45%	-19.21%	7.33%	37.29%	-5.99%	28.25%	-12.73%	5.27%	-41.33%	8.86%
Net Income	6.55B	1.18B	6.48B	8.98B	7.77B	9.8B	9.57B	10.71B	10.63B	13.14B
Depreciation & Amortization	1.79B	1.26B	1.09B	1.36B	1.54B	1.45B	1.26B	1.13B	1.07B	1.05B
Stock-Based Compensation	258M	219M	225M	201M	126M	337M	356M	254M	286M	279M
Deferred Taxes	-856M	-1.26B	-413M	-280M	-18M	894M	-122M	-2M	-11M	517M
Other Non-Cash Items	1.28B	2.17B	1.49B	-166M	-258M	-1.19B	558M	351M	1.06B	-367M
Working Capital Changes	-221M	3.53B	-1.24B	366M	690M	1.32B	-605M	-846M	-6.23B	-7.21B
Change in Receivables	-28M	-141M	27M	-158M	882M	-225M	-69M	-2M	-295M	0
Change in Inventory	-142M	-355M	-203M	-183M	99M	-135M	-960M	-597M	-520M	0
Change in Payables	-540M	-445M	-251M	1.32B	-860M	2.84B	759M	841M	1.13B	0
Cash from Investing+	-999M	-2.45B	5.93B	-3.98B	-1.48B	-2.77B	-763M	-3.35B	2.52B	-67M
Capital Expenditures	-2.26B	-1.68B	-1.55B	-2.05B	-1.18B	-1.37B	-1.48B	-1.85B	-2.06B	-2.11B
CapEx % of Revenue	5.4%	4.63%	4.51%	5.51%	3.57%	3.54%	3.45%	4.05%	4.39%	4.41%
Acquisitions	197M	-79M	99M	-5.11B	-863M	-2.59B	385M	442M	3.17B	-461M
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-59M	-87M	188M	922M	311M	159M	-684M	405M	469M	434M
Cash from Financing+	-6.54B	-7.45B	-10.35B	-9B	-8.07B	-6.79B	-10.25B	-8.31B	-6.91B	-8.14B
Debt Issued (Net)	1.67B	1.05B	-3B	-1.84B	-1.86B	228M	-958M	1.86B	2.53B	13M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-6.04B	-6.32B	-6.64B	-6.84B	-7.05B	-7.25B	-7.62B	-7.95B	-8.36B	-8.78B
Share Repurchases	-3.68B	-3.68B	-1.91B	-1.1B	-118M	-111M	-1.42B	-2.29B	-1.79B	-746M
Other Financing	79M	-95M	-272M	-227M	310M	-353M	-1.09B	-465M	-31M	1.06B
Net Change in Cash	1.25B	-2.55B	2.94B	-2.58B	373M	2.92B	-200M	-133M	1.8B	-478M
Free Cash Flow+	6.53B	5.43B	6.08B	8.42B	8.67B	11.26B	9.53B	9.75B	4.74B	5.3B
FCF Margin %	15.61%	15%	17.72%	22.59%	26.25%	29.12%	22.17%	21.3%	10.07%	11.05%
FCF Growth %	-18.07%	-16.88%	11.93%	38.46%	2.97%	29.89%	-15.31%	2.23%	-51.36%	11.71%
FCF per Share	1.50	1.26	1.41	1.95	2.00	2.59	2.19	2.25	1.10	1.23
FCF Conversion (FCF/Net Income)	1.35x	5.69x	1.19x	1.17x	1.27x	1.29x	1.15x	1.08x	0.64x	0.57x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	26.65%	5.92%	33.83%	44.43%	36.56%	42.35%	37.65%	40.2%	39.48%	43.22%
Return on Invested Capital (ROIC)	10.56%	9.61%	11.95%	13.39%	11.47%	13.07%	14.07%	14.32%	12.2%	15.78%
Gross Margin	60.67%	62.11%	61.9%	60.77%	59.31%	60.27%	58.14%	59.52%	61.06%	61.63%
Net Margin	15.59%	3.45%	18.76%	23.94%	23.47%	25.28%	22.19%	23.42%	22.59%	27.34%
Debt / Equity	1.97x	2.51x	2.32x	2.09x	2.09x	1.78x	1.57x	1.58x	1.73x	1.33x
Interest Coverage	11.81x	9.09x	9.63x	10.66x	6.26x	6.45x	12.37x	7.41x	6.03x	8.32x
FCF Conversion	1.35x	5.69x	1.19x	1.17x	1.27x	1.29x	1.15x	1.08x	0.64x	0.57x
Revenue Growth	-5.49%	-13.5%	-5.28%	8.65%	-11.41%	17.09%	11.25%	6.39%	2.86%	1.87%

The Coca-Cola Company (KO) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare KO vs Peers

vs PEP

vs FIZZ

Compare Top 4

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios

The Coca-Cola Company (KO) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare KO vs Peers

vs PEP

vs FIZZ

Compare Top 4

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios