The Coca-Cola Company (KO) Financial Ratios
30 years of historical data (1996–2025) · Consumer Defensive · Beverages - Non-Alcoholic
EV/EBITDA
↓
25.38
+3% vs avg
5yr avg: 24.71
30Y Low11.4·High34.8
P/FCF
↑
64.34
↑+68% vs avg
5yr avg: 38.35
30Y Low17.5·High65.1
P/B Ratio
↓
9.96
+1% vs avg
5yr avg: 9.87
30Y Low4.9·High22.9
ROE
↑
43.2%
↓+7% vs avg
5yr avg: 40.6%
30Y Low6%·High61%
Debt/EBITDA
↓
3.07
↓-14% vs avg
5yr avg: 3.56
30Y Low0.6·High5.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
KO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
The Coca-Cola Company trades at 26.0x earnings, roughly in line with its 5-year average of 25.5x, sitting at the 47th percentile of its historical range. Compared to the Consumer Defensive sector median P/E of 19.6x, the stock trades at a premium of 33%. On a free-cash-flow basis, the stock trades at 64.3x P/FCF, 68% 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 | $340.7B | $301.5B | $269.0B | $255.7B | $276.7B | $257.0B | $237.1B | $238.8B | $203.6B | $198.4B | $181.1B |
| Enterprise Value | $376.0B | $336.7B | $303.9B | $289.8B | $307.8B | $291.5B | $274.7B | $276.5B | $238.7B | $240.1B | $218.2B |
| P/E Ratio → | 26.04 | 23.00 | 25.31 | 23.86 | 29.05 | 26.32 | 30.64 | 26.74 | 31.57 | 158.21 | 27.83 |
| P/S Ratio | 7.11 | 6.29 | 5.72 | 5.59 | 6.43 | 6.65 | 7.18 | 6.41 | 5.93 | 5.48 | 4.32 |
| P/B Ratio | 9.96 | 8.80 | 10.20 | 9.30 | 10.71 | 10.34 | 11.14 | 11.32 | 10.68 | 10.45 | 7.80 |
| P/FCF | 64.34 | 56.93 | 56.73 | 26.23 | 29.02 | 22.83 | 27.35 | 28.37 | 33.49 | 36.53 | 27.71 |
| P/OCF | 46.00 | 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
KO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
The Coca-Cola Company's enterprise value stands at 25.4x EBITDA, roughly in line with its 5-year average of 24.7x. The Consumer Defensive sector median is 11.5x, placing the stock at a 120% 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 | 25.38 | 22.73 | 27.46 | 23.29 | 25.29 | 24.79 | 26.08 | 24.14 | 23.31 | 26.63 | 20.89 |
| EV / EBIT | 27.32 | 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 |
KO Profitability
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 1.5%. 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 7.7%. ROIC of 15.8% represents solid returns on invested capital versus a sector median of 5.5%.
Margins
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% |
Return on Capital
| 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% |
KO Leverage & Debt
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 (9% below the sector average of 3.4x). Net debt stands at $35.2B ($45.5B total debt minus $10.3B cash). Interest coverage of 10.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| 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 | 10.67 | 10.67 | 8.90 | 9.48 | 14.25 | 8.78 | 7.78 | 12.40 | 9.66 | 9.08 | 12.10 |
KO Liquidity & Efficiency
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 |
KO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
The Coca-Cola Company returns 2.8% to shareholders annually — split between a 2.6% 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 3.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 2.6% | 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% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 4.3% | 4.0% | 4.2% | 3.4% | 3.8% | 3.3% | 3.7% | 3.2% | 0.6% | 3.6% |
| FCF Yield | 1.6% | 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 | 2.8% | 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 |
Peer Comparison
Compare KO with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 KOYou | $341B | 26.0 | 25.4 | 64.3 | 61.6% | 28.7% | 43.2% | 15.8% | 3.1 |
 PEP | $213B | 26.0 | 17.8 | 27.8 | 54.1% | 12.2% | 42.6% | 14.9% | 3.5 |
 MNST | $76B | 39.8 | 30.3 | — | 55.8% | 29.2% | 26.8% | 33.1% | — |
 CELH | $8B | 131.2 | 17.5 | 26.1 | 50.4% | 18.6% | 5.2% | 19.7% | 1.3 |
 FIZZ | $3B | 17.6 | 12.3 | 19.2 | 37.0% | 19.6% | 37.2% | 57.9% | 0.3 |
 KDP | $39B | 18.7 | 12.3 | 25.8 | 52.4% | 22.0% | 8.4% | 6.7% | 3.7 |
 STZ | $26B | -338.4 | 9.5 | 13.6 | 51.0% | 35.5% | -0.9% | 13.0% | 3.0 |
 TAP | $8B | -3.9 | — | 7.5 | 37.6% | -21.0% | -17.8% | -10.1% | — |
 SAM | $2B | 20.9 | 8.6 | 10.3 | 45.6% | 6.9% | 12.3% | 15.5% | 0.2 |
 BUD | $141B | 28.7 | 9.6 | 12.6 | 55.3% | 25.9% | 6.5% | 7.5% | 3.4 |
 CCEP | $43B | 19.8 | 13.4 | 18.7 | 34.9% | 12.9% | 21.6% | 10.4% | 3.2 |
| Consumer Defensive Median | — | 19.6 | 11.5 | 14.8 | 40.2% | 1.5% | 7.7% | 5.5% | 3.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonKO — Frequently Asked Questions
Quick answers to the most common questions about buying KO stock.
What is The Coca-Cola Company's P/E ratio?
The Coca-Cola Company's current P/E ratio is 26.0x. The historical average is 33.3x. This places it at the 47th percentile of its historical range.
What is The Coca-Cola Company's EV/EBITDA?
The Coca-Cola Company's current EV/EBITDA is 25.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.8x.
What is The Coca-Cola Company's ROE?
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%.
Is KO stock overvalued?
Based on historical data, The Coca-Cola Company is trading at a P/E of 26.0x. This is at the 47th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is The Coca-Cola Company's dividend yield?
The Coca-Cola Company's current dividend yield is 2.57% with a payout ratio of 67.0%.
What are The Coca-Cola Company's profit margins?
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.
How much debt does The Coca-Cola Company have?
The Coca-Cola Company's Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.