The Coca-Cola Company (KO) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.93	$0.97	+4.3%	—	—	—
Q2 26	$0.81	$0.86	+6.2%	—	—	—
Q1 26	$0.78	$0.82	+5.1%	—	—	—
Q4 25	$0.84	$0.87	+3.6%	—	—	—
Q3 25	$0.72	$0.73	+1.4%	—	—	—
Q2 25	$0.52	$0.55	+5.8%	—	—	—
Q1 25	$0.75	$0.77	+2.7%	—	—	—
Q4 24	$0.81	$0.84	+3.7%	—	—	—
Q3 24	$0.7	$0.72	+2.9%	—	—	—
Q2 24	$0.49	$0.49	0.0%	—	—	—
Q1 24	$0.69	$0.74	+7.2%	—	—	—
Q4 23	$0.72	$0.78	+8.3%	—	—	—
Q3 23	$0.65	$0.68	+4.6%	—	—	—
Q2 23	$0.45	$0.45	0.0%	—	—	—
Q1 23	$0.64	$0.69	+7.8%	—	—	—
Q4 22	$0.67	$0.7	+4.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.05	—	—	$47.9B	—
FY24	—	$2.47	—	—	$47.1B	—
FY23	—	$2.48	—	—	$45.8B	—
FY22	—	$2.2	—	—	$43B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$41.9B	$36.2B	$34.3B	$37.3B	$33B	$38.7B	$43B	$45.8B	$47.1B	$47.9B
YoY change	-5.49%	-13.5%	-5.28%	+8.65%	-11.4%	+17.1%	+11.3%	+6.39%	+2.86%	+1.87%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	41.9B	36.2B	34.3B	37.3B	33B	38.7B	43B	45.8B	47.1B	47.9B
Cost of revenue	16.5B	13.7B	13.1B	14.6B	13.4B	15.4B	18B	18.5B	18.3B	18.4B
Gross profit	25.4B	22.5B	21.2B	22.6B	19.6B	23.3B	25B	27.2B	28.7B	29.5B
Gross margin	60.7%	62.1%	61.9%	60.8%	59.3%	60.3%	58.1%	59.5%	61.1%	61.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	9.5B	7.6B	11B	12.1B	9.7B	12.1B	7.4B	7.9B	8B	14.5B
Operating expenses	16B	13.6B	11.4B	12.4B	9.9B	12.3B	13B	14.1B	14.7B	14.6B
Operating income	9.4B	8.9B	9.8B	10.3B	9.7B	11B	12B	13.1B	14B	14.9B
Operating margin	22.6%	24.6%	28.6%	27.6%	29.5%	28.6%	28%	28.6%	29.8%	31.1%
Non-operating income, net	-1.2B	-1.8B	-1.3B	900M	1.1B	2.7B	77M	489M	-268M	2B
Pretax income	8.1B	6.9B	8.2B	10.8B	9.7B	12.4B	11.7B	13B	13.1B	16B
Income tax	1.6B	5.6B	1.7B	1.8B	2B	2.6B	2.1B	2.2B	2.4B	2.9B
Net income	6.5B	1.3B	6.5B	9B	7.8B	9.8B	9.6B	10.7B	10.6B	13.1B
Net margin	15.6%	3.54%	18.9%	24.1%	23.5%	25.4%	22.3%	23.4%	22.6%	27.4%
EBITDA	12.8B	11.8B	12.6B	13B	12.7B	14.4B	15.4B	16.7B	17.8B	18.7B
EPS	1.51	0.29	1.51	2.09	1.8	2.26	2.2	2.48	2.47	3.05
Diluted EPS	1.49	0.29	1.5	2.07	1.79	2.25	2.19	2.47	2.46	3.04

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	12B	10.8B	11.3B	12.4B	11.9B	11.5B	11.1B	12.5B	12.5B	11.8B	12.5B	13.4B
Cost of revenue	4.7B	4.6B	4.2B	4.8B	4.7B	4.6B	4.2B	4.7B	4.8B	4.7B	4.6B	5B
Gross profit	7.3B	6.2B	7.1B	7.6B	7.2B	6.9B	7B	7.8B	7.7B	7.1B	7.9B	8.4B
Gross margin	61%	57.3%	62.5%	61.1%	60.7%	60%	62.6%	62.4%	61.5%	60%	63%	62.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.3B	1.8B	1.9B	2.1B	2B	2B	3.2B	3.5B	3.6B	4.2B	3.5B	3.7B
Operating expenses	3.7B	3.9B	3.4B	3.6B	3.7B	4.1B	3.2B	3.5B	3.6B	4.2B	3.5B	3.7B
Operating income	3.6B	2.4B	3.7B	4B	3.5B	2.9B	3.7B	4.3B	4B	2.9B	4.4B	4.7B
Operating margin	29.8%	21.7%	32.5%	32.1%	29.7%	24.8%	33.4%	34.5%	32.2%	24.2%	35.1%	35.1%
Non-operating income, net	90M	271M	334M	-800M	26M	168M	546M	741M	377M	298M	392M	951M
Pretax income	3.5B	2.5B	3.9B	3B	3.4B	2.8B	4.1B	4.8B	4.2B	3B	4.6B	5.5B
Income tax	454M	496M	687M	627M	530M	593M	722M	993M	500M	646M	645M	1B
Net income	3.1B	2B	3.2B	2.4B	2.9B	2.2B	3.3B	3.8B	3.7B	2.3B	4B	4.4B
Net margin	25.8%	18.3%	28.2%	19.4%	24%	19.2%	30%	30.3%	29.6%	19.6%	31.8%	33.2%
EBITDA	4.6B	3.2B	4.5B	5B	4.6B	3.7B	4.5B	5.3B	5.1B	3.8B	5.2B	5.7B
EPS	0.71	0.46	0.74	0.56	0.66	0.51	0.77	0.89	0.86	0.53	0.91	1.03
Diluted EPS	0.71	0.46	0.74	0.56	0.66	0.51	0.77	0.88	0.86	0.53	0.91	1.03

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	179B	196B	201.7B	236.7B	235.5B	255.5B	275.3B	254.8B	268.3B	300.8B	375.1B
Enterprise value	202.5B	223B	229.8B	268.3B	267.4B	285.6B	302.8B	283.2B	298.2B	330.5B	407.9B
Shares outstanding	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B	4.3B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	27.3	152.8	31.1	26.3	30.3	26.1	28.8	23.8	25.2	22.9	26.4
P/S	4.28	5.41	5.88	6.35	7.13	6.61	6.4	5.57	5.7	6.27	7.54
P/B	7.71	10.3	10.6	11.2	11.1	10.3	10.7	9.27	10.2	8.78	10.5
EV/EBITDA	15.8	18.9	18.2	20.7	21.1	19.9	19.7	16.9	16.8	17.7	24
EV/Sales	4.84	6.16	6.7	7.2	8.1	7.39	7.04	6.19	6.34	6.89	8.14
Earnings yield	3.66%	0.65%	3.21%	3.8%	3.3%	3.84%	3.48%	4.2%	3.97%	4.37%	3.79%
FCF yield	3.65%	2.7%	3.01%	3.56%	3.68%	4.41%	3.46%	3.83%	1.77%	1.76%	1.39%
PEG	—	—	—	—	—	—	—	—	—	—	1.68

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	60.7%	62.1%	61.9%	60.8%	59.3%	60.3%	58.1%	59.5%	61.1%	61.6%	62.9%
Operating margin	22.6%	24.6%	28.6%	27.6%	29.5%	28.6%	28%	28.6%	29.8%	31.1%	34.9%
Net margin	15.6%	3.54%	18.9%	24.1%	23.5%	25.4%	22.3%	23.4%	22.6%	27.4%	28.6%
ROE	28.2%	6.76%	34%	42.6%	36.5%	39.4%	37.1%	38.9%	40.4%	38.3%	42.1%
ROA	7.51%	1.46%	7.78%	10.4%	8.9%	10.4%	10.3%	11%	10.6%	12.5%	9.4%
ROIC	16.3%	3.6%	16.4%	16.2%	14.6%	15.8%	18.5%	19.3%	20.3%	19.1%	20.3%
Return on tangible assets	14.6%	2.35%	16.2%	27.4%	25.7%	39%	37.5%	34.2%	28.3%	26.9%	27.7%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.28	1.34	0.87	0.76	1.32	1.13	1.15	1.13	1.03	1.46	1.3
Quick ratio	1.18	1.25	0.76	0.63	1.09	0.96	0.93	0.95	0.84	1.25	1.12
Debt / equity	1.97	2.51	2.32	2.03	2.01	1.72	1.52	1.53	1.69	1.33	1.16
Debt / assets	0.52	0.54	0.53	0.5	0.49	0.45	0.42	0.43	0.44	0.43	0.4
Net debt / EBITDA	1.83	2.29	2.23	2.44	2.51	2.1	1.79	1.7	1.68	1.59	1.37
Interest coverage	12.1	9.08	9.66	12.4	7.78	8.78	14.2	9.48	8.9	10.7	12
Effective tax rate	19.5%	81.4%	21.3%	16.7%	20.3%	21.1%	18.1%	17.4%	18.6%	17.9%	16.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.7	8.48	8.05	8.72	7.69	8.96	9.94	10.6	10.9	11.1	11.7
EPS (basic)	1.51	0.29	1.51	2.09	1.8	2.26	2.2	2.48	2.47	3.05	3.05
EPS (diluted)	1.49	0.29	1.5	2.07	1.79	2.25	2.19	2.47	2.46	3.04	3.33
Book value per share	5.38	4.44	4.47	4.93	4.96	5.76	5.97	6.36	6.12	7.97	8.4
FCF per share	1.51	1.24	1.43	1.97	2.02	2.61	2.2	2.25	1.1	1.23	3.31
Cash per share	5.14	4.84	3.78	2.61	2.54	2.93	2.69	3.16	3.38	3.67	3.81
Capex per share	0.49	0.38	0.31	0.25	0.23	0.29	0.33	0.41	0.47	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.05%	4.53%	3.79%	2.89%	2.99%	3.26%	3.28%	3.89%	4.3%	—	—
Capex / operating cash flow	33.2%	17.1%	16.7%	10.6%	9.07%	9.02%	12%	13.3%	14.2%	—	—
Payout ratio	92.3%	492.6%	102.6%	76.2%	90.7%	74%	79.6%	74.3%	78.5%	66.8%	62.5%
Dividend yield	3.38%	3.22%	3.29%	2.89%	2.99%	2.84%	2.77%	3.12%	3.12%	2.92%	2.43%

Yield

2.43%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.53

ex-dividend Sep 15, 2026

Payout ratio

62%

of earnings

Dividend growth

30 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.53
Jun 15, 2026	$0.53
Mar 13, 2026	$0.53

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$12B	$10.8B	$11.3B	$12.4B	$11.9B	$11.5B	$11.1B	$12.5B	$12.5B	$11.8B	$12.5B	$13.4B
YoY change	+8.04%	+7.15%	+2.91%	+3.27%	-0.83%	+6.41%	-1.51%	+1.39%	+5.07%	+2.41%	+12.1%	+6.74%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	22.2B	20.7B	16.1B	11.2B	10.9B	12.6B	11.6B	13.7B	14.6B	15.8B
Receivables	3.9B	3.7B	3.7B	4B	3.1B	3.5B	3.5B	3.4B	3.6B	3B
Inventory	2.7B	2.7B	3.1B	3.4B	3.3B	3.4B	4.2B	4.4B	4.7B	4.4B
Total current assets	34B	36.5B	24.9B	20.4B	19.2B	22.5B	22.6B	26.7B	26B	31B
Property, plant & equipment	6.1B	4.3B	5.3B	6.3B	6B	5.6B	5.4B	4.6B	5.2B	4.6B
Goodwill & intangibles	42.3B	33.3B	43.2B	53.5B	57.1B	69.2B	67.3B	66.4B	62.9B	56B
Total assets	87.3B	87.9B	83.2B	86.4B	87.3B	94.4B	92.8B	97.7B	100.5B	104.8B
Accounts payable	2.7B	2.3B	2.7B	3.8B	3.5B	4.6B	5.3B	5.6B	5.5B	5.6B
Short-term debt	16B	16.5B	18.8B	15.2B	2.7B	4.6B	2.8B	6.5B	2.1B	3.4B
Total current liabilities	26.5B	27.2B	28.8B	27B	14.6B	19.9B	19.7B	23.6B	25.2B	21.3B
Long-term debt	29.7B	31.2B	25.4B	27.5B	40.1B	38.1B	36.4B	35.5B	42.4B	42.1B
Total liabilities	64B	68.9B	64.2B	65.3B	66B	69.5B	66.9B	70.2B	74.2B	70.5B
Shareholders' equity	23.2B	19B	19.1B	21.1B	21.3B	24.9B	25.8B	27.5B	26.4B	34.3B
Total debt	45.7B	47.7B	44.2B	42.8B	42.8B	42.8B	39.1B	42.1B	44.5B	45.5B
Net debt	37.2B	41.7B	35.1B	36.3B	36B	33.1B	29.6B	32.7B	33.7B	35.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	15.4B	13.7B	16.9B	19B	18.2B	14.6B	13.8B	14.3B	15.8B	15.8B	13.8B	16.4B
Receivables	3.5B	3.4B	4.2B	4.5B	4.2B	3.6B	4.1B	4.2B	3.9B	3B	3.7B	3.7B
Inventory	4.3B	4.4B	5B	4.8B	4.7B	4.7B	5.1B	5.1B	4.8B	4.4B	4.7B	4.6B
Total current assets	27.9B	26.7B	29.5B	31.6B	30.3B	26B	26.2B	26.6B	27.2B	31B	30.4B	32.9B
Property, plant & equipment	-9.2B	4.6B	-9.4B	-9.5B	-9.8B	5.2B	-9.8B	-10.1B	-9.9B	4.6B	-9.2B	-9.3B
Goodwill & intangibles	65.8B	66.4B	64.5B	64.6B	65.5B	62.9B	63.5B	64.6B	64.4B	56B	55.7B	55.9B
Total assets	97.6B	97.7B	99.4B	101.2B	106.3B	100.5B	101.7B	104.3B	106B	104.8B	104.2B	107.9B
Accounts payable	16.8B	5.6B	19.4B	21.9B	23.8B	5.5B	16.5B	17B	17.7B	5.6B	14.4B	15.4B
Short-term debt	6B	6.5B	7.4B	5.7B	3.3B	2.1B	5.6B	4.5B	4.2B	3.4B	4.8B	6.5B
Total current liabilities	24.4B	23.6B	28.4B	29.3B	28.6B	25.2B	23.8B	21.9B	22.5B	21.3B	22.4B	25.2B
Long-term debt	34.2B	35.5B	35.1B	38.1B	43B	42.4B	43.5B	45B	43.2B	42.1B	39.1B	37B
Total liabilities	69.7B	70.2B	71.4B	73.8B	78.1B	74.2B	74B	74.2B	72.8B	70.5B	68.5B	69.6B
Shareholders' equity	27.8B	27.5B	27.9B	27.4B	28.2B	26.4B	27.8B	30.2B	33.3B	34.3B	35.7B	38.3B
Total debt	40.2B	42.1B	42.5B	43.8B	46.3B	44.5B	49.1B	49.4B	47.4B	45.5B	43.9B	43.5B
Net debt	28.3B	32.7B	32.1B	30.1B	32.3B	33.7B	40.7B	39.9B	34.7B	35.2B	33.3B	30.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	6.5B	1.3B	6.5B	9B	7.8B	9.8B	9.6B	10.7B	10.6B	13.1B
Depreciation & amortization	1.8B	1.3B	1.1B	1.4B	1.5B	1.5B	1.3B	1.1B	1.1B	1.1B
Stock-based compensation	258M	219M	225M	201M	126M	337M	356M	254M	286M	279M
Change in working capital	-1.8B	7.1B	-1.6B	-263M	1.1B	2.1B	-470M	55M	256M	-6.3B
Operating cash flow	6.4B	9.6B	7.8B	10.2B	10.9B	14B	11.8B	13.3B	14.2B	7.4B
Capital expenditure	-2.1B	-1.6B	-1.3B	-1.1B	-988M	-1.3B	-1.4B	-1.8B	-2B	—
Investing cash flow	-1B	-2.3B	5.9B	-4B	-1.5B	-2.8B	-763M	-3.3B	2.5B	2B
Dividends paid	-6B	-6.3B	-6.6B	-6.8B	-7B	-7.3B	-7.6B	-8B	-8.4B	-8.8B
Share repurchases	-3.7B	-3.7B	-1.9B	-1.1B	-118M	-111M	-1.4B	-2.3B	-1.8B	-746M
Financing cash flow	-6.5B	-7.4B	-10.3B	-9B	-8.1B	-6.8B	-10.3B	-8.3B	-6.9B	-8.1B
Net change in cash	-1.2B	-136M	3.4B	-2.8B	1.3B	4.4B	775M	1.7B	9.8B	1.3B
Free cash flow	6.5B	5.3B	6.1B	8.4B	8.7B	11.3B	9.5B	9.7B	4.7B	5.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	3.1B	2B	3.2B	2.4B	2.9B	2.2B	3.3B	3.8B	3.7B	2.3B	4B	4.4B
Depreciation & amortization	290M	271M	262M	269M	268M	276M	267M	279M	268M	236M	264M	266M
Stock-based compensation	57M	77M	68M	72M	67M	79M	63M	67M	74M	75M	56M	61M
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	4B	2.5B	3.4B	4B	4B	2.5B	3.5B	4.6B	5B	3.8B	2B	5.5B
Capital expenditure	-378M	-823M	-356M	-415M	-457M	-796M	-301M	-437M	—	—	—	—
Investing cash flow	-1.7B	-926M	330M	667M	2.3B	-783M	-1.1B	789M	1.7B	-154M	2B	-229M
Dividends paid	-2B	-3.9B	-99M	-2.1B	-2.1B	-4.1B	-89M	-2.2B	-2.1B	-4.4B	-2.3B	-2.3B
Share repurchases	-109M	-1.1B	-702M	-172M	-354M	-567M	-370M	-102M	-172M	-102M	-477M	-186M
Financing cash flow	-3.1B	-4.2B	406M	-938M	-894M	-5.5B	3.4B	-3.4B	-3.1B	-5.1B	-3.9B	-2.7B
Net change in cash	-790M	-2.6B	4.2B	3.8B	5.4B	-3.8B	5.9B	2B	3.6B	-1.4B	163M	2.6B
Free cash flow	3.9B	1.8B	158M	3.2B	-1.7B	3.1B	-5.5B	3.4B	4.6B	2.9B	1.8B	5.1B

Date	Ratio
Aug 13, 2012	2:1
May 13, 1996	2:1
May 12, 1992	2:1
May 14, 1990	2:1
Jul 1, 1986	3:1
Jun 1, 1977	2:1

The Coca-Cola Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history