30 years of historical data (1996–2025) · Consumer Defensive · Beverages - Non-Alcoholic
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
The Coca-Cola Company trades at 26.8x earnings, 5% above its 5-year average of 25.5x, sitting at the 57th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 21.6x, the stock trades at a premium of 24%. On a free-cash-flow basis, the stock trades at 66.2x P/FCF, 73% above the 5-year average of 38.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $350.8B | $301.5B | $269.0B | $255.7B | $276.7B | $257.0B | $237.1B | $238.8B | $203.6B | $198.4B | $181.1B |
| Enterprise Value | $386.1B | $336.7B | $303.9B | $289.8B | $307.8B | $291.5B | $274.7B | $276.5B | $238.7B | $240.1B | $218.2B |
| P/E Ratio → | 26.83 | 23.00 | 25.31 | 23.86 | 29.05 | 26.32 | 30.64 | 26.74 | 31.57 | 158.21 | 27.83 |
| P/S Ratio | 7.32 | 6.29 | 5.72 | 5.59 | 6.43 | 6.65 | 7.18 | 6.41 | 5.93 | 5.48 | 4.32 |
| P/B Ratio | 10.26 | 8.80 | 10.20 | 9.30 | 10.71 | 10.34 | 11.14 | 11.32 | 10.68 | 10.45 | 7.80 |
| P/FCF | 66.25 | 56.93 | 56.73 | 26.23 | 29.02 | 22.83 | 27.35 | 28.37 | 33.49 | 36.53 | 27.71 |
| P/OCF | 47.36 | 40.70 | 39.52 | 22.04 | 25.11 | 20.35 | 24.08 | 22.80 | 26.69 | 27.92 | 20.58 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
The Coca-Cola Company's enterprise value stands at 26.1x EBITDA, 5% above its 5-year average of 24.7x. The Consumer Defensive sector median is 12.3x, placing the stock at a 112% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.02 | 6.46 | 6.33 | 7.16 | 7.54 | 8.32 | 7.42 | 6.96 | 6.63 | 5.21 |
| EV / EBITDA | 26.06 | 22.73 | 27.46 | 23.29 | 25.29 | 24.79 | 26.08 | 24.14 | 23.31 | 26.63 | 20.89 |
| EV / EBIT | 28.05 | 19.08 | 20.61 | 20.01 | 24.49 | 20.79 | 24.56 | 23.56 | 26.02 | 31.00 | 24.60 |
| EV / FCF | — | 63.58 | 64.09 | 29.73 | 32.28 | 25.89 | 31.69 | 32.84 | 39.27 | 44.20 | 33.40 |
Margins and return-on-capital ratios measuring operating efficiency
The Coca-Cola Company earns an operating margin of 28.7%, significantly above the Consumer Defensive sector average of 1.1%. Operating margins have expanded from 24.7% to 28.7% over the past 3 years, signaling improving operational efficiency. Return on equity of 43.2% is exceptionally high — well above the sector median of 7.8%. ROIC of 15.8% represents solid returns on invested capital versus a sector median of 5.7%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.6% | 61.6% | 61.1% | 59.5% | 58.1% | 60.3% | 59.3% | 60.8% | 61.9% | 62.1% | 60.7% |
| Operating Margin | 28.7% | 28.7% | 21.2% | 24.7% | 25.4% | 26.7% | 27.3% | 27.1% | 26.7% | 21.4% | 20.7% |
| Net Profit Margin | 27.3% | 27.3% | 22.6% | 23.4% | 22.2% | 25.3% | 23.5% | 23.9% | 18.8% | 3.4% | 15.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 43.2% | 43.2% | 39.5% | 40.2% | 37.7% | 42.4% | 36.6% | 44.4% | 33.8% | 5.9% | 26.6% |
| ROA | 12.8% | 12.8% | 10.7% | 11.3% | 10.2% | 10.8% | 8.9% | 10.5% | 7.5% | 1.4% | 7.4% |
| ROIC | 15.8% | 15.8% | 12.2% | 14.3% | 14.1% | 13.1% | 11.5% | 13.4% | 12.0% | 9.6% | 10.6% |
| ROCE | 17.3% | 17.3% | 13.4% | 15.4% | 14.8% | 14.0% | 13.6% | 17.7% | 15.9% | 12.8% | 14.0% |
Solvency and debt-coverage ratios — lower is generally safer
The Coca-Cola Company carries a Debt/EBITDA ratio of 3.1x, which is moderately leveraged (5% below the sector average of 3.2x). Net debt stands at $35.2B ($45.5B total debt minus $10.3B cash). Interest coverage of 8.3x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.33 | 1.33 | 1.73 | 1.58 | 1.57 | 1.78 | 2.09 | 2.09 | 2.32 | 2.51 | 1.97 |
| Debt / EBITDA | 3.07 | 3.07 | 4.13 | 3.49 | 3.34 | 3.76 | 4.22 | 3.86 | 4.32 | 5.29 | 4.38 |
| Net Debt / Equity | — | 1.03 | 1.32 | 1.24 | 1.20 | 1.39 | 1.77 | 1.79 | 1.84 | 2.20 | 1.60 |
| Net Debt / EBITDA | 2.38 | 2.38 | 3.15 | 2.74 | 2.55 | 2.94 | 3.57 | 3.29 | 3.43 | 4.62 | 3.56 |
| Debt / FCF | — | 6.65 | 7.36 | 3.49 | 3.26 | 3.07 | 4.34 | 4.48 | 5.78 | 7.67 | 5.69 |
| Interest Coverage | 8.32 | 8.32 | 6.03 | 7.41 | 12.37 | 6.45 | 6.26 | 10.66 | 9.63 | 9.09 | 11.81 |
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.46x means The Coca-Cola Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.13x to 1.46x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.46 | 1.46 | 1.03 | 1.13 | 1.15 | 1.13 | 1.32 | 0.76 | 0.87 | 1.34 | 1.28 |
| Quick Ratio | 1.25 | 1.25 | 0.84 | 0.95 | 0.93 | 0.96 | 1.09 | 0.63 | 0.76 | 1.25 | 1.18 |
| Cash Ratio | 0.65 | 0.65 | 0.58 | 0.58 | 0.59 | 0.63 | 0.75 | 0.41 | 0.56 | 0.76 | 0.84 |
| Asset Turnover | — | 0.46 | 0.47 | 0.47 | 0.46 | 0.41 | 0.38 | 0.43 | 0.41 | 0.41 | 0.48 |
| Inventory Turnover | 4.16 | 4.16 | 3.88 | 4.19 | 4.25 | 4.50 | 4.11 | 4.33 | 4.25 | 5.17 | 6.16 |
| Days Sales Outstanding | — | 23.13 | 27.68 | 27.20 | 29.60 | 33.16 | 34.76 | 38.89 | 39.21 | 36.96 | 33.62 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
The Coca-Cola Company returns 2.7% to shareholders annually — split between a 2.5% dividend yield and 0.2% buyback yield. A payout ratio of 67.0% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.5% | 2.9% | 3.1% | 3.1% | 2.8% | 2.8% | 3.0% | 2.9% | 3.3% | 3.2% | 3.3% |
| Payout Ratio | 67.0% | 67.0% | 78.6% | 74.2% | 79.8% | 74.2% | 91.0% | 76.7% | 103.3% | 506.4% | 92.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 4.3% | 4.0% | 4.2% | 3.4% | 3.8% | 3.3% | 3.7% | 3.2% | 0.6% | 3.6% |
| FCF Yield | 1.5% | 1.8% | 1.8% | 3.8% | 3.4% | 4.4% | 3.7% | 3.5% | 3.0% | 2.7% | 3.6% |
| Buyback Yield | 0.2% | 0.2% | 0.7% | 0.9% | 0.5% | 0.0% | 0.0% | 0.5% | 0.9% | 1.9% | 2.0% |
| Total Shareholder Yield | 2.7% | 3.2% | 3.8% | 4.0% | 3.3% | 2.9% | 3.0% | 3.3% | 4.2% | 5.0% | 5.4% |
| Shares Outstanding | — | $4.3B | $4.3B | $4.3B | $4.3B | $4.3B | $4.3B | $4.3B | $4.3B | $4.3B | $4.4B |
Compare KO with 3 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| KOYou | $351B | 26.8 | 26.1 | 66.2 | 61.6% | 28.7% | 43.2% | 15.8% | 3.1 |
| PEP | $232B | 28.3 | 19.1 | 30.2 | 54.1% | 12.2% | 42.6% | 14.9% | 3.5 |
| FIZZ | $3B | 18.3 | 12.8 | 20.0 | 37.0% | 19.6% | 37.2% | 57.9% | 0.3 |
| ZVIA | $10M | -8.9 | — | — | 48.0% | -7.3% | -25.3% | -72.1% | — |
| Consumer Defensive Median | — | 21.6 | 12.3 | 16.4 | 40.7% | 1.1% | 7.8% | 5.7% | 3.2 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonThe Coca-Cola Company's current P/E ratio is 26.8x. The historical average is 33.3x. This places it at the 57th percentile of its historical range.
The Coca-Cola Company's current EV/EBITDA is 26.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.8x.
The Coca-Cola Company's return on equity (ROE) is 43.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 33.9%.
Based on historical data, The Coca-Cola Company is trading at a P/E of 26.8x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Coca-Cola Company's current dividend yield is 2.50% with a payout ratio of 67.0%.
The Coca-Cola Company has 61.6% gross margin and 28.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
The Coca-Cola Company's Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.