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KOCoca-Cola

Consumer staples · Beverages · NYSE
KO quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 1.9%, free cash flow up to $5.3B

XBRL, from each 10-K
RevenueStatements ↓
$47.9B
from $47.1B in FY2024
FY2016FY2025
Net incomeStatements ↓
$13.1B
from $10.6B in FY2024
FY2016FY2025
Free cash flowStatements ↓
$5.3B
from $4.7B in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$3.04
from $2.46 in FY2024
FY2016FY2025
Operating marginStatements ↓
28.7%
from 21.2% in FY2024
FY2016FY2025
Total debtStatements ↓
$45.4B
from $44.2B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (40, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)3.39Sales (ttm)51.1BNet income (ttm)14.6BSales growth+1.9%EPS growth+23.6%Sales Q/Q+7.4%
Free cash flow14.3BGross margin62.3%Oper. margin30.0%Net margin28.7%FCF margin28.0%ROE39.1%
ROA13.6%R&D / sales-Dividend2.04Debt/Eq1.15Curr. ratio1.38Cash13.5B
Op. cash flow (ttm)16.2BEBITDA14.8BEBITDA margin30.9%Net debt29.6BQuick ratio1.19Interest cover8.32
ROIC14.1%Payout ratio67.1%Tax rate17.9%Stock pay / sales0.6%Shares out.4.3BShares Y/Y-0.2%
Book / share8.69Cash / share3.13Sales / share11.87Asset turnover0.47Inventory turns4.16Days sales out.23
Sales 3Y CAGR+3.7%Sales 5Y CAGR+7.7%EPS 3Y CAGR+11.5%EPS 5Y CAGR+11.2%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Operating margin widened to 28.7%21.2% → 28.7% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

KO against Consumer staples peers

Ten years, side by side → · All 34 →
GrowthProfitBalanceCleanInsiders
KOPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 34 companies, the better end on the right. Hover a dot for the company.

Sales growth
+1.9%18th of 33 · median +2.1%
Net margin
28.7%2nd of 33 · median 8.0%
Return on equity
39.1%5th of 29 · median 18.6%
Free cash flow margin
28.0%3rd of 33 · median 10.7%
Debt / equity (less is better)
1.1521st of 29 · median 0.82
KO and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
KO Coca-Cola$51.1B +1.9%62.3%28.7%39.1%28.0%1.15
TSN Tyson Foods$55.7B +2.1%6.1%1.0%3.2%2.1%0.44
DG Dollar General$43.6B +5.2%31.2%3.9%18.3%4.6%0.49
PM Philip Morris International$43.1B +7.3%67.7%24.8%-31.5%-
MDLZ Mondelez International$39.9B +5.8%34.3%10.2%15.3%9.2%0.82
KHC Kraft Heinz$24.8B -3.5%33.5%-14.0%-9.6%14.3%0.50
Where each dollar goes

From $38.7B of sales to $9.8B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $23.3BRevenue to Cost of revenue: $15.4BGross profit to Operating profit: $10.3BGross profit to Operating expenses: $13.0BOperating profit to Net profit: $7.7BOperating profit to Tax: $2.6BOther income to Net profit: $2.1B Revenue: $38.7B Revenue$38.7B +17% Y/Y Gross profit: $23.3B · 60% margin Gross profit$23.3B60% margin +19% Y/Y Cost of revenue: $15.4B · 40% of revenue Cost of revenue$15.4B40% of revenue Operating profit: $10.3B · 27% margin Operating profit$10.3B27% margin +15% Y/Y Other income: $2.1B · 5% of revenue Other income$2.1B5% of revenue Operating expenses: $13.0B · 34% of revenue Operating expenses$13.0B34% of revenue Net profit: $9.8B · 25% margin Net profit$9.8B25% margin +26% Y/Y Tax: $2.6B · 7% of revenue Tax$2.6B7% of revenue

Swipe sideways for the whole flow →

From $43.0B of sales to $9.5B of profit

FY2022, from the 10-K income statement and revenue by product
Concentrate operations to Revenue: $24.1BFinished product operations to Revenue: $18.9BRevenue to Gross profit: $25.0BRevenue to Cost of revenue: $18.0BGross profit to Operating profit: $10.9BGross profit to Operating expenses: $14.1BOperating profit to Net profit: $8.8BOperating profit to Tax: $2.1BOther income to Net profit: $748.0M Concentrate operations: $24.1B · 56% Concentrate operations$24.1B56% Finished product operations: $18.9B · 44% Finished product operat…$18.9B44% Revenue: $43.0B Revenue$43.0B +11% Y/Y Gross profit: $25.0B · 58% margin Gross profit$25.0B58% margin +7% Y/Y Cost of revenue: $18.0B · 42% of revenue Cost of revenue$18.0B42% of revenue Operating profit: $10.9B · 25% margin Operating profit$10.9B25% margin +6% Y/Y Other income: $748.0M · 2% of revenue Other income$748.0M2% of revenue Operating expenses: $14.1B · 33% of revenue Operating expenses$14.1B33% of revenue Net profit: $9.5B · 22% margin Net profit$9.5B22% margin −2% Y/Y Tax: $2.1B · 5% of revenue Tax$2.1B5% of revenue

Swipe sideways for the whole flow →

From $45.8B of sales to $10.7B of profit

FY2023, from the 10-K income statement and revenue by product
Concentrate operations to Revenue: $26.5BFinished product operations to Revenue: $19.2BRevenue to Gross profit: $27.2BRevenue to Cost of revenue: $18.5BGross profit to Operating profit: $11.3BGross profit to Operating expenses: $15.9BOperating profit to Net profit: $9.1BOperating profit to Tax: $2.2BOther income to Net profit: $1.7B Concentrate operations: $26.5B · 58% Concentrate operations$26.5B58% Finished product operations: $19.2B · 42% Finished product operat…$19.2B42% Revenue: $45.8B Revenue$45.8B +6% Y/Y Gross profit: $27.2B · 60% margin Gross profit$27.2B60% margin +9% Y/Y Cost of revenue: $18.5B · 40% of revenue Cost of revenue$18.5B40% of revenue Operating profit: $11.3B · 25% margin Operating profit$11.3B25% margin +4% Y/Y Other income: $1.7B · 4% of revenue Other income$1.7B4% of revenue Operating expenses: $15.9B · 35% of revenue Operating expenses$15.9B35% of revenue Net profit: $10.7B · 23% margin Net profit$10.7B23% margin +12% Y/Y Tax: $2.2B · 5% of revenue Tax$2.2B5% of revenue

Swipe sideways for the whole flow →

From $47.1B of sales to $10.6B of profit

FY2024, from the 10-K income statement and revenue by product
Concentrate operations to Revenue: $27.7BFinished product operations to Revenue: $19.3BRevenue to Gross profit: $28.7BRevenue to Cost of revenue: $18.3BGross profit to Operating profit: $10.0BGross profit to Operating expenses: $18.7BOperating profit to Net profit: $7.6BOperating profit to Tax: $2.4BOther income to Net profit: $3.1B Concentrate operations: $27.7B · 59% Concentrate operations$27.7B59% Finished product operations: $19.3B · 41% Finished product operat…$19.3B41% Revenue: $47.1B Revenue$47.1B +3% Y/Y Gross profit: $28.7B · 61% margin Gross profit$28.7B61% margin +6% Y/Y Cost of revenue: $18.3B · 39% of revenue Cost of revenue$18.3B39% of revenue Operating profit: $10.0B · 21% margin Operating profit$10.0B21% margin −12% Y/Y Other income: $3.1B · 7% of revenue Other income$3.1B7% of revenue Operating expenses: $18.7B · 40% of revenue Operating expenses$18.7B40% of revenue Net profit: $10.6B · 23% margin Net profit$10.6B23% margin −1% Y/Y Tax: $2.4B · 5% of revenue Tax$2.4B5% of revenue

Swipe sideways for the whole flow →

From $47.9B of sales to $13.1B of profit

FY2025, from the 10-K income statement and revenue by product
Concentrate operations to Revenue: $28.5BFinished product operations to Revenue: $19.5BRevenue to Gross profit: $29.5BRevenue to Cost of revenue: $18.4BGross profit to Operating profit: $13.8BGross profit to Operating expenses: $15.8BOperating profit to Net profit: $10.9BOperating profit to Tax: $2.9BOther income to Net profit: $2.2B Concentrate operations: $28.5B · 59% Concentrate operations$28.5B59% Finished product operations: $19.5B · 41% Finished product operat…$19.5B41% Revenue: $47.9B Revenue$47.9B +2% Y/Y Gross profit: $29.5B · 62% margin Gross profit$29.5B62% margin +3% Y/Y Cost of revenue: $18.4B · 38% of revenue Cost of revenue$18.4B38% of revenue Operating profit: $13.8B · 29% margin Operating profit$13.8B29% margin +38% Y/Y Other income: $2.2B · 5% of revenue Other income$2.2B5% of revenue Operating expenses: $15.8B · 33% of revenue Operating expenses$15.8B33% of revenue Net profit: $13.1B · 27% margin Net profit$13.1B27% margin +23% Y/Y Tax: $2.9B · 6% of revenue Tax$2.9B6% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax, less other income
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

4 of 4
  • ✓
    Net margin above the peer median28.7% vs 8.0%
  • ✓
    Gross margin up over 5 years59.3% → 61.6%
  • ✓
    Return on equity above 15%39.1%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 15.6% → 27.3%

Balance sheet

3 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 8.3× interest expense
  • !
    Debt larger than equityDebt / equity 1.15 on the latest balance sheet (peer median 0.82)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.38
  • ✓
    Net debt under 3 years of free cash flow$29.6B net debt, 2.1 years
Debt / equity at each year end, FY2016 to FY2025: 1.97 → 1.41
What the debt is made of ↓

Cash and shareholders

3 of 4
  • ✓
    Free cash flow positive in every one of 10 years$5.3B last year
  • ✓
    Share count down over 5 years−0.2%
  • ✓
    Dividend per share up over 5 years$1.64 → $2.04
  • !
    Cash from operations below net income$7.4B vs $13.1B
Free cash flow, FY2016 to FY2025: 6.5B → 5.3B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$15.9B of principal due, schedule of Dec 31, 2025

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 47.9B Net income 13.1B
FY2016 revenue 41.9B · Revenues, 0000021344-19-000014 FY2016 net income 6.5B · NetIncomeLoss, 0000021344-19-000014 41.9B FY2016 FY2017 revenue 36.2B · Revenues, 0000021344-20-000006 FY2017 net income 1.2B · NetIncomeLoss, 0000021344-20-000006 36.2B FY2017 FY2018 revenue 34.3B · Revenues, 0000021344-21-000008 FY2018 net income 6.4B · NetIncomeLoss, 0000021344-21-000008 34.3B FY2018 FY2019 revenue 37.3B · Revenues, 0000021344-22-000009 FY2019 net income 8.9B · NetIncomeLoss, 0000021344-22-000009 37.3B FY2019 FY2020 revenue 33.0B · Revenues, 0000021344-23-000011 FY2020 net income 7.7B · NetIncomeLoss, 0000021344-23-000011 33.0B FY2020 FY2021 revenue 38.7B · Revenues, 0000021344-24-000009 FY2021 net income 9.8B · NetIncomeLoss, 0000021344-24-000009 38.7B FY2021 FY2022 revenue 43.0B · Revenues, 0000021344-25-000011 FY2022 net income 9.5B · NetIncomeLoss, 0000021344-25-000011 43.0B FY2022 FY2023 revenue 45.8B · Revenues, 0001628280-26-010047 FY2023 net income 10.7B · NetIncomeLoss, 0001628280-26-010047 45.8B FY2023 FY2024 revenue 47.1B · Revenues, 0001628280-26-010047 FY2024 net income 10.6B · NetIncomeLoss, 0001628280-26-010047 47.1B FY2024 FY2025 revenue 47.9B · Revenues, 0001628280-26-010047 FY2025 net income 13.1B · NetIncomeLoss, 0001628280-26-010047 47.9B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

KO's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue47.9B
FY2016: 41.9BFY2017: 36.2BFY2018: 34.3BFY2019: 37.3BFY2020: 33.0BFY2021: 38.7BFY2022: 43.0BFY2023: 45.8BFY2024: 47.1BFY2025: 47.9B FY2017FY2019FY2021FY2023FY2025
Net income13.1B
FY2016: 6.5BFY2017: 1.2BFY2018: 6.4BFY2019: 8.9BFY2020: 7.7BFY2021: 9.8BFY2022: 9.5BFY2023: 10.7BFY2024: 10.6BFY2025: 13.1B FY2017FY2019FY2021FY2023FY2025
Free cash flow5.3B
FY2016: 6.5BFY2017: 5.3BFY2018: 6.1BFY2019: 8.4BFY2020: 8.7BFY2021: 11.3BFY2022: 9.5BFY2023: 9.7BFY2024: 4.7BFY2025: 5.3B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)3.04
FY2016: 1.49FY2017: 0.29FY2018: 1.50FY2019: 2.07FY2020: 1.79FY2021: 2.25FY2022: 2.19FY2023: 2.47FY2024: 2.46FY2025: 3.04 FY2017FY2019FY2021FY2023FY2025
Dividend per share2.04
FY2016: 1.40FY2017: 1.48FY2018: 1.56FY2019: 1.60FY2020: 1.64FY2021: 1.68FY2022: 1.76FY2023: 1.84FY2024: 1.94FY2025: 2.04 FY2017FY2019FY2021FY2023FY2025
Diluted shares4.3B
FY2016: 4.4BFY2017: 4.3BFY2018: 4.3BFY2019: 4.3BFY2020: 4.3BFY2021: 4.3BFY2022: 4.3BFY2023: 4.3BFY2024: 4.3BFY2025: 4.3B FY2017FY2019FY2021FY2023FY2025

The segments changed

10-K filed 2026-02-20

Compared with the 10-K of Feb 20, 2025: new segments A.Pacific, Europe Middle East Africa; no longer reported: Asia Pacific, Eliminations, EMEA, Global Ventures, Corporate.

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
North America 19.6B40.9% +3.8%
Europe Middle East Africa 11.5B24.0% +5.1%
Latin America 6.3B13.2% -2.1%
Bottling Investments 5.7B12.0% -7.8%
A.Pacific 5.6B11.8% +0.8%

10-K 0001628280-26-010047, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Concentrate operations 28.5B59.4% +2.7%
Finished product operations 19.5B40.6% +0.7%

10-K 0001628280-26-010047, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
International 28.8B60.1% +0.4%
United States 19.1B39.9% +4.2%

10-K 0001628280-26-010047, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue41.9B36.2B34.3B37.3B33.0B38.7B43.0B45.8B47.1B47.9B
Cost of revenue16.5B13.7B13.1B14.6B13.4B15.4B18.0B18.5B18.3B18.4B
Gross profit25.4B22.5B21.2B22.6B19.6B23.3B25.0B27.2B28.7B29.5B
SG&A15.4B12.8B11.0B12.1B9.7B12.1B12.9B14.0B14.6B14.5B
Operating income8.7B7.8B9.2B10.1B9.0B10.3B10.9B11.3B10.0B13.8B
Interest expense733.0M853.0M950.0M946.0M1.4B1.6B882.0M1.5B1.7B1.7B
Pretax income8.1B6.9B8.2B10.8B9.7B12.4B11.7B13.0B13.1B16.0B
Income tax1.6B5.6B1.7B1.8B2.0B2.6B2.1B2.2B2.4B2.9B
Net income6.5B1.2B6.4B8.9B7.7B9.8B9.5B10.7B10.6B13.1B
EPS (diluted)1.490.291.502.071.792.252.192.472.463.04
Diluted shares4.4B4.3B4.3B4.3B4.3B4.3B4.3B4.3B4.3B4.3B
Depreciation & amortization1.8B1.3B1.1B1.4B1.5B1.5B1.3B1.1B1.1B1.1B
EBITDA10.4B9.0B10.2B11.5B10.5B11.8B12.2B12.4B11.1B14.8B
Gross margin60.7%62.1%61.9%60.8%59.3%60.3%58.1%59.5%61.1%61.6%
Operating margin20.7%21.4%26.7%27.1%27.3%26.7%25.4%24.7%21.2%28.7%
Net margin15.6%3.4%18.8%23.9%23.5%25.3%22.2%23.4%22.6%27.3%
Revenue growth--13.5%-5.3%+8.6%-11.4%+17.1%+11.3%+6.4%+2.9%+1.9%
EPS growth--80.5%+417%+38.0%-13.5%+25.7%-2.7%+12.8%-0.4%+23.6%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash8.6B6.1B9.1B6.5B6.8B9.7B9.5B9.4B10.8B10.3B
Short-term investments4.1B5.3B5.0B3.2B2.3B-----
Receivables3.9B4.0B3.7B4.0B3.1B3.5B3.5B3.4B3.6B3.0B
Inventory2.7B3.0B3.1B3.4B3.3B3.4B4.2B4.4B4.7B4.4B
Current assets34.0B30.0B24.9B20.4B19.2B22.5B22.6B26.7B26.0B31.0B
Property & equipment10.6B9.6B9.6B10.8B10.8B9.9B9.8B9.2B10.3B9.6B
Goodwill10.6B13.6B14.1B16.8B17.5B19.4B18.8B18.4B18.1B15.5B
Total assets87.3B87.9B83.2B86.4B87.3B94.4B92.8B97.7B100.5B104.8B
Current liabilities26.5B26.7B28.8B27.0B14.6B19.9B19.7B23.6B25.2B21.3B
Total debt45.5B47.4B43.4B41.8B41.9B41.9B38.9B41.7B44.2B45.4B
Shareholders' equity23.1B17.1B17.0B19.0B19.3B23.0B24.1B25.9B24.9B32.2B
Retained earnings65.5B60.4B63.2B65.9B66.6B69.1B71.0B73.8B76.1B80.4B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow8.8B7.0B7.6B10.5B9.8B12.6B11.0B11.6B6.8B7.4B
Capital spending2.3B1.8B1.5B2.1B1.2B1.4B1.5B1.9B2.1B2.1B
Free cash flow6.5B5.3B6.1B8.4B8.7B11.3B9.5B9.7B4.7B5.3B
Stock-based pay (added back)258.0M219.0M225.0M201.0M126.0M337.0M356.0M254.0M286.0M279.0M
Dividends paid6.0B6.3B6.6B6.8B7.0B7.3B7.6B8.0B8.4B8.8B
Buybacks3.7B3.7B1.9B1.1B118.0M111.0M1.4B2.3B1.8B746.0M
Debt raised27.3B29.9B27.6B23.0B26.9B13.1B4.0B6.9B12.1B5.0B
Debt repaid25.6B28.9B30.6B24.9B28.8B12.9B4.9B5.0B--
Investing cash flow-1.0B-2.3B5.9B-4.0B-1.5B-2.8B-763.0M-3.3B2.5B-67.0M
Financing cash flow-6.5B-7.4B-10.3B-9.0B-8.1B-6.8B-10.2B-8.3B-6.9B-8.1B
Dividend per share1.401.481.561.601.641.681.761.841.942.04

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)258.0M219.0M225.0M201.0M126.0M337.0M356.0M254.0M286.0M279.0M
Stock-based pay / revenue0.6%0.6%0.7%0.5%0.4%0.9%0.8%0.6%0.6%0.6%
Operating lease cost---327.0M353.0M342.0M397.0M397.0M362.0M405.0M
Operating lease cash paid---339.0M365.0M352.0M400.0M389.0M359.0M404.0M
Right-of-use assets---1.4B1.5B1.4B1.4B1.3B1.2B1.7B
Operating lease liabilities---1.4B1.6B1.5B1.5B1.4B1.2B1.7B

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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