The Coca-Cola Company (KO) quarterly cash flow statement — complete operating, investing & financing history
The Coca-Cola Company (KO) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 5.52B | 2.02B | 3.76B | 5.04B | 3.81B | -5.2B | 3.95B | -1.26B | 3.58B | 528M | 2.67B | 4.3B | 4.47B | 160M | 2.95B | 3.52B | 3.92B | 623M | 3.39B | 3.71B |
| Operating CF Margin % | 41.27% | 16.2% | 31.77% | 40.49% | 30.4% | -46.74% | 34.23% | -10.62% | 29% | 4.67% | 24.61% | 35.97% | 37.33% | 1.46% | 29.14% | 31.84% | 34.64% | 5.94% | 35.86% | 36.91% |
| Operating CF Growth % | 44.9% | 138.85% | -4.94% | 500.56% | 6.3% | -1085.23% | 47.98% | -129.28% | -19.78% | 230% | -9.49% | 22.09% | 13.92% | -74.32% | -13.08% | -4.96% | 0.87% | -61.92% | -6.35% | 7.92% |
| Net Income | 4.48B | 3.92B | 2.27B | 3.68B | 3.81B | 3.33B | 2.19B | 2.85B | 2.41B | 3.19B | 1.97B | 3.08B | 2.52B | 3.11B | 2.06B | 2.82B | 1.9B | 2.79B | 2.45B | 2.48B |
| Depreciation & Amortization | 266M | 264M | 236M | 268M | 279M | 267M | 276M | 268M | 269M | 262M | 271M | 290M | 281M | 286M | 307M | 307M | 322M | 324M | 341M | 362M |
| Stock-Based Compensation | 61M | 56M | 75M | 74M | 67M | 63M | 79M | 67M | 72M | 68M | 77M | 57M | 62M | 58M | 83M | 84M | 102M | 87M | 101M | 88M |
| Deferred Taxes | 148M | 205M | 21M | 37M | 364M | 95M | -11M | 202M | -29M | -173M | 152M | 57M | -471M | 260M | 13M | -8M | -168M | 41M | 168M | 226M |
| Other Non-Cash Items | -1.7B | -165M | 321M | -208M | 1M | -436M | -197M | 215M | 1B | 31M | 174M | -74M | 955M | -680M | -163M | -350M | 1.23B | -154M | -823M | -51M |
| Working Capital Changes | 2.26B | -2.26B | 832M | 1.19B | -710M | -8.52B | 1.61B | -4.86B | -139M | -2.85B | 23M | 887M | 1.12B | -2.88B | 654M | 667M | 542M | -2.47B | 1.16B | 606M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -642M | 1.75B | 294M | 1.25B | 789M | -1.07B | -783M | 2.31B | 667M | 330M | -926M | -1.66B | -883M | 117M | 1.43B | -1.04B | -1.29B | 146M | -4.68B | 166M |
| Capital Expenditures | -418M | -266M | -882M | -479M | -442M | -309M | -803M | -469M | -422M | -370M | -851M | -386M | -339M | -276M | -708M | -289M | -270M | -217M | -639M | -278M |
| CapEx % of Revenue | 3.12% | 2.13% | 7.46% | 3.85% | 3.53% | 2.78% | 6.96% | 3.96% | 3.41% | 3.27% | 7.84% | 3.23% | 2.83% | 2.51% | 6.99% | 2.61% | 2.38% | 2.07% | 6.75% | 2.77% |
| Acquisitions | -162M | -37M | 3.77B | -177M | -885M | 706M | -145M | 433M | -17M | 2.9B | 114M | 5M | -22M | 299M | 196M | -23M | 16M | 213M | -4.53B | 185M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 206M | 5M | -93M | 192M | 305M | 38M | -57M | 454M | 163M | -91M | 459M | -75M | 49M | 18M | 798M | -380M | -781M | -338M | 13M | 77M |
| Cash from Financing | -2.67B | -3.87B | -6.39B | -3.14B | -3.38B | 3.43B | -5.48B | -894M | -938M | 406M | -4.22B | -3.09B | -3.06B | 2.06B | -5.17B | -1.13B | -975M | -2.98B | -195M | -1.63B |
| Debt Issued (Net) | -288M | -1.26B | -675M | 688M | -1.15B | 3.84B | -845M | 1.27B | 1.18B | 919M | 638M | -1.05B | -628M | 2.9B | -590M | -850M | 1.43B | 7M | 1.19B | 16M |
| Equity Issued (Net) | -90M | -322M | -32M | -152M | -38M | -211M | -537M | -74M | -25M | -412M | -981M | -44M | -106M | -619M | 124M | -147M | -461M | -97M | 202M | 151M |
| Dividends Paid | -2.28B | -2.28B | -4.39B | -2.11B | -2.19B | -89M | -4.08B | -2.09B | -2.08B | -99M | -3.87B | -1.99B | -1.99B | -101M | -3.71B | -100M | -1.9B | -1.91B | -1.81B | -1.81B |
| Share Repurchases | -186M | -477M | -102M | -172M | -102M | -370M | -567M | -354M | -172M | -702M | -1.1B | -109M | -236M | -848M | -6M | -202M | -664M | -546M | -7M | 0 |
| Other Financing | -8M | -3M | -1.29B | -1.57B | -1M | -105M | -17M | -5M | -7M | -2M | -8M | -1M | -341M | -115M | -1B | -31M | -43M | -979M | 229M | 18M |
| Net Change in Cash | 2.21B | -15M | -2.46B | 3.16B | 1.39B | -2.67B | -2.67B | 248M | 3.1B | 1.13B | -2.52B | -642M | 572M | 2.46B | -609M | 1.12B | 1.29B | -2.03B | -1.59B | 2.1B |
| Free Cash Flow | 5.1B | 1.75B | 2.87B | 4.56B | 3.37B | -5.51B | 3.15B | -1.73B | 3.16B | 158M | 1.82B | 3.91B | 4.13B | -116M | 2.24B | 3.23B | 3.65B | 406M | 2.75B | 3.43B |
| FCF Margin % | 38.15% | 14.07% | 24.31% | 36.64% | 26.88% | -49.52% | 27.27% | -14.58% | 25.58% | 1.4% | 16.77% | 32.74% | 34.5% | -1.06% | 22.14% | 29.22% | 32.26% | 3.87% | 29.11% | 34.14% |
| FCF Growth % | 51.5% | 131.85% | -8.7% | 364.12% | 6.51% | -3587.97% | 73.06% | -144.15% | -23.41% | 236.21% | -18.87% | 21.06% | 13.06% | -128.57% | -18.62% | -5.69% | -0.05% | -71.41% | -14.07% | 6.76% |
| FCF per Share | 1.18 | 0.41 | 0.67 | 1.06 | 0.78 | -1.28 | 0.73 | -0.40 | 0.73 | 0.04 | 0.42 | 0.90 | 0.95 | -0.03 | 0.52 | 0.74 | 0.84 | 0.09 | 0.63 | 0.79 |
| FCF Conversion (FCF/Net Income) | 1.25x | 0.52x | 1.65x | 1.36x | 1.00x | -1.56x | 1.80x | -0.44x | 1.49x | 0.17x | 1.35x | 1.39x | 1.75x | 0.05x | 1.45x | 1.25x | 2.06x | 0.22x | 1.41x | 1.50x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |