NYSE : KO
The Coca-Cola Company — Financial statements
Consumer Staples · Beverages - Non-Alcoholic · United States
Last price 94.08 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 404.72B
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Financial statements
The Coca-Cola Company (KO) reported revenue of 51.05B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 51.05B | 47.94B | 47.06B | 45.75B | 43.00B | 38.66B |
| Cost of Revenue | 19.24B | 18.40B | 18.32B | 18.52B | 18.00B | 15.36B |
| Gross Profit | 31.82B | 29.54B | 28.74B | 27.23B | 25.00B | 23.30B |
| Selling, General & Admin | 15.38B | 14.52B | 14.44B | 13.99B | 12.66B | 11.87B |
| Other Operating Expenses | 16.00M | 3.00M | -2.00M | |||
| Operating Expenses | 15.39B | 14.52B | 14.45B | 13.99B | 12.66B | 11.87B |
| Operating Income | 16.43B | 15.03B | 14.29B | 13.25B | 12.34B | 11.43B |
| Interest Expense | -1.53B | -1.65B | -1.66B | -1.53B | -882.00M | -1.60B |
| Interest & Investment Income | 1.02B | 945.00M | 1.19B | 907.00M | 449.00M | 276.00M |
| Earnings From Equity Investments | 2.12B | 2.03B | 1.77B | 1.69B | 1.47B | 1.44B |
| Currency Exchange Gain (Loss) | -53.00M | -48.00M | -180.00M | |||
| Other Non Operating Income (Expenses) | -44.00M | -73.00M | -107.00M | -164.00M | -143.00M | -3.00M |
| EBT Excluding Unusual Items | 17.94B | 16.23B | 15.31B | 14.15B | 13.24B | 11.55B |
| Merger & Restructuring Charges | -49.00M | -112.00M | -148.00M | -273.00M | -155.00M | -767.00M |
| Impairment of Goodwill | -6.00M | |||||
| Gain (Loss) on Sale of Investments | 2.40B | 2.63B | 1.10B | 344.00M | -491.00M | 2.11B |
| Gain (Loss) on Sale of Assets | -1.27B | -1.68B | 898.00M | 439.00M | 153.00M | |
| Asset Writedown | -1.01B | -1.04B | -949.00M | -57.00M | -78.00M | |
| Legal Settlements | -10.00M | -10.00M | 2.00M | -8.00M | -15.00M | |
| Other Unusual Items | -116.00M | -7.00M | -3.12B | -1.70B | -1.00B | -372.00M |
| Pretax Income | 17.88B | 16.00B | 13.09B | 12.95B | 11.69B | 12.43B |
| Income Tax Expense | 3.10B | 2.86B | 2.44B | 2.25B | 2.12B | 2.62B |
| Earnings From Continuing Operations | 14.78B | 13.14B | 10.65B | 10.70B | 9.57B | 9.80B |
| Minority Interest in Earnings | -147.00M | -30.00M | -18.00M | 11.00M | -29.00M | -33.00M |
| Net Income | 14.63B | 13.11B | 10.63B | 10.71B | 9.54B | 9.77B |
| Net Income to Common | 14.63B | 13.11B | 10.63B | 10.71B | 9.54B | 9.77B |
| Shares Outstanding (Basic) | 4.30B | 4.30B | 4.31B | 4.32B | 4.33B | 4.32B |
| Shares Outstanding (Diluted) | 4.31B | 4.31B | 4.32B | 4.34B | 4.35B | 4.34B |
| EPS (Basic) | 3.40 | 3.05 | 2.47 | 2.48 | 2.20 | 2.26 |
| EPS (Diluted) | 3.39 | 3.04 | 2.46 | 2.47 | 2.19 | 2.25 |
| Free Cash Flow | 14.28B | 5.30B | 4.74B | 9.75B | 9.53B | 11.26B |
| Free Cash Flow Per Share | 3.31 | 1.23 | 1.10 | 2.25 | 2.19 | 2.59 |
| Dividend Per Share | 2.10 | 2.04 | 1.94 | 1.84 | 1.76 | 1.68 |
| Gross Margin | 62.32% | 61.63% | 61.06% | 59.52% | 58.14% | 60.27% |
| Operating Margin | 32.17% | 31.35% | 30.37% | 28.95% | 28.70% | 29.58% |
| Profit Margin | 28.65% | 27.34% | 22.59% | 23.42% | 22.19% | 25.28% |
| Free Cash Flow Margin | 27.97% | 11.05% | 10.07% | 21.30% | 22.17% | 29.12% |
| EBITDA | 17.44B | 16.08B | 15.37B | 14.37B | 13.60B | 12.88B |
| EBITDA Margin | 34.17% | 33.54% | 32.65% | 31.42% | 31.63% | 33.33% |
| D&A For EBITDA | 1.02B | 1.05B | 1.07B | 1.13B | 1.26B | 1.45B |
| EBIT | 16.43B | 15.03B | 14.29B | 13.25B | 12.34B | 11.43B |
| EBIT Margin | 32.17% | 31.35% | 30.37% | 28.95% | 28.70% | 29.58% |
| Effective Tax Rate | 17.36% | 17.88% | 18.62% | 17.36% | 18.10% | 21.09% |
| Advertising Expenses | 5.40B | 5.10B | 5.00B | 4.00B | 4.00B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.45B | 10.27B | 10.83B | 9.37B | 9.52B | 9.68B |
| Short-Term Investments | 3.14B | 5.54B | 3.74B | 4.30B | 2.11B | 2.94B |
| Trading Asset Securities | 1.00M | |||||
| Cash & Short-Term Investments | 16.59B | 15.81B | 14.57B | 13.66B | 11.63B | 12.63B |
| Receivables | 3.57B | 3.04B | 3.57B | 3.41B | 3.49B | 3.51B |
| Inventory | 4.41B | 4.42B | 4.73B | 4.42B | 4.23B | 3.41B |
| Prepaid Expenses | 1.98B | 2.19B | 2.53B | 2.93B | 2.43B | 1.63B |
| Restricted Cash | 341.00M | |||||
| Other Current Assets | 6.77B | 5.59B | 603.00M | 2.30B | 808.00M | 1.02B |
| Total Current Assets | 33.33B | 31.04B | 26.00B | 26.73B | 22.59B | 22.55B |
| Property, Plant & Equipment | 9.48B | 11.31B | 11.48B | 10.56B | 11.25B | 11.34B |
| Long-Term Investments | 24.02B | 22.90B | 20.14B | 21.64B | 20.29B | 20.54B |
| Goodwill | 15.41B | 15.49B | 18.14B | 18.36B | 18.78B | 19.36B |
| Other Intangible Assets | 12.46B | 12.53B | 13.30B | 14.35B | 14.85B | 15.25B |
| Long-Term Deferred Tax Assets | 1.09B | 1.21B | 1.32B | 1.56B | 1.75B | 2.13B |
| Other Long-Term Assets | 12.17B | 10.33B | 10.17B | 4.50B | 3.26B | 3.19B |
| Total Assets | 107.95B | 104.82B | 100.55B | 97.70B | 92.76B | 94.35B |
| Accounts Payable | 15.22B | 5.65B | 5.47B | 5.59B | 5.31B | 4.60B |
| Accrued Expenses | 8.84B | 9.83B | 8.81B | 9.12B | 8.53B | |
| Short-Term Debt | 73.00M | 1.55B | 1.50B | 4.56B | 2.37B | 3.31B |
| Current Portion of Long-Term Debt | 4.94B | 1.82B | 648.00M | 1.96B | 399.00M | 1.34B |
| Current Portion of Leases | 321.00M | 290.00M | 361.00M | 341.00M | 310.00M | |
| Current Income Taxes Payable | 577.00M | 525.00M | 1.39B | 1.57B | 1.20B | 686.00M |
| Other Current Liabilities | 3.40B | 2.57B | 6.13B | 719.00M | 983.00M | 1.17B |
| Total Current Liabilities | 24.21B | 21.28B | 25.25B | 23.57B | 19.72B | 19.95B |
| Long-Term Debt | 37.47B | 42.82B | 43.30B | 36.66B | 38.05B | 38.13B |
| Long-Term Leases | 1.40B | 923.00M | 1.00B | 1.11B | 1.16B | |
| Pension & Post-Retirement Benefits | 785.00M | 871.00M | 877.00M | 855.00M | 1.41B | |
| Long-Term Deferred Tax Liabilities | 2.91B | 2.41B | 2.47B | 2.64B | 2.91B | 2.82B |
| Other Long-Term Liabilities | 3.83B | 1.85B | 1.37B | 5.47B | 4.28B | 6.02B |
| Total Liabilities | 68.42B | 70.54B | 74.18B | 70.22B | 66.94B | 69.49B |
| Common Stock | 1.76B | 1.76B | 1.76B | 1.76B | 1.76B | 1.76B |
| Additional Paid-In Capital | 20.89B | 20.58B | 19.80B | 19.21B | 18.82B | 18.12B |
| Retained Earnings | 85.90B | 80.38B | 76.05B | 73.78B | 71.02B | 69.09B |
| Treasury Stock | -57.09B | -56.42B | -55.92B | -54.53B | -52.60B | -51.64B |
| Comprehensive Income & Other | -14.09B | -14.13B | -16.84B | -14.28B | -14.89B | -14.33B |
| Total Common Equity | 37.37B | 32.17B | 24.86B | 25.94B | 24.11B | 23.00B |
| Minority Interest | 2.16B | 2.11B | 1.52B | 1.54B | 1.72B | 1.86B |
| Shareholders' Equity | 39.53B | 34.27B | 26.37B | 27.48B | 25.83B | 24.86B |
| Total Liabilities & Equity | 107.95B | 104.82B | 100.55B | 97.70B | 92.76B | 94.35B |
| Total Debt | 42.48B | 47.91B | 46.66B | 44.54B | 42.28B | 44.25B |
| Net Cash (Debt) | -25.88B | -32.11B | -32.09B | -30.88B | -30.65B | -31.62B |
| Net Cash Per Share | -6.00 | -7.44 | -7.43 | -7.12 | -7.05 | -7.29 |
| Filing Date Shares Outstanding | 4.30B | 4.30B | 4.30B | 4.31B | 4.33B | 4.34B |
| Total Common Shares Outstanding | 4.30B | 4.30B | 4.30B | 4.31B | 4.33B | 4.33B |
| Working Capital | 9.12B | 9.76B | 748.00M | 3.16B | 2.87B | 2.60B |
| Book Value Per Share | 8.69 | 7.48 | 5.78 | 6.02 | 5.57 | 5.32 |
| Tangible Book Value | 9.51B | 4.15B | -6.58B | -6.77B | -9.53B | -11.61B |
| Tangible Book Value Per Share | 2.21 | 0.96 | -1.53 | -1.57 | -2.20 | -2.69 |
| Land | 265.00M | 226.00M | 229.00M | 611.00M | 652.00M | |
| Buildings | 4.97B | 5.14B | 4.65B | 4.43B | 4.35B | |
| Machinery | 13.50B | 14.50B | 13.59B | 14.03B | 13.86B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 14.63B | 13.11B | 10.63B | 10.71B | 9.54B | 9.77B |
| Depreciation & Amortization | 1.02B | 1.05B | 1.07B | 1.13B | 1.26B | 1.45B |
| Loss (Gain) From Sale of Assets | -709.00M | -713.00M | -1.74B | -492.00M | -129.00M | -1.36B |
| Asset Writedown & Restructuring Costs | 57.00M | 78.00M | ||||
| Loss (Gain) on Equity Investments | -1.19B | -1.04B | -802.00M | -1.02B | -838.00M | -615.00M |
| Stock-Based Compensation | 269.00M | 279.00M | 286.00M | 254.00M | 356.00M | 337.00M |
| Other Operating Activities | 1.55B | 1.93B | 3.59B | 1.86B | 1.38B | 1.64B |
| Change in Accounts Receivable | 334.00M | 334.00M | -295.00M | -2.00M | -69.00M | -225.00M |
| Change in Inventory | -154.00M | -154.00M | -520.00M | -597.00M | -960.00M | -135.00M |
| Change in Accounts Payable | -6.61B | -6.61B | 1.13B | 841.00M | 759.00M | 2.84B |
| Change in Income Taxes | -558.00M | -558.00M | -823.00M | -578.00M | -360.00M | -566.00M |
| Change in Other Net Operating Assets | 7.32B | -218.00M | -5.73B | -510.00M | 25.00M | -592.00M |
| Operating Cash Flow | 16.23B | 7.41B | 6.80B | 11.60B | 11.02B | 12.62B |
| Capital Expenditures | -1.95B | -2.11B | -2.06B | -1.85B | -1.48B | -1.37B |
| Sale of Property, Plant & Equipment | 35.00M | 13.00M | 40.00M | 74.00M | 75.00M | 108.00M |
| Cash Acquisitions | -447.00M | -461.00M | -315.00M | -62.00M | -73.00M | -4.77B |
| Divestitures | 191.00M | 408.00M | 2.14B | 458.00M | 2.18B | |
| Investment in Securities | 2.24B | 1.66B | 2.26B | -1.91B | 1.02B | 1.03B |
| Other Investing Activities | 45.00M | 421.00M | 458.00M | 405.00M | -759.00M | 51.00M |
| Investing Cash Flow | 117.00M | -67.00M | 2.52B | -3.35B | -763.00M | -2.77B |
| Long-Term Debt Issued | 4.98B | 12.06B | 6.89B | 3.97B | 13.09B | |
| Long-Term Debt Repaid | -4.97B | -9.53B | -5.03B | -4.93B | -12.87B | |
| Net Debt Issued (Repaid) | -3.82B | 13.00M | 2.53B | 1.86B | -958.00M | 228.00M |
| Issuance of Common Stock | 425.00M | 313.00M | 747.00M | 539.00M | 837.00M | 702.00M |
| Repurchase of Common Stock | -1.00B | -746.00M | -1.79B | -2.29B | -1.42B | -111.00M |
| Common Dividends Paid | -11.23B | -8.78B | -8.36B | -7.95B | -7.62B | -7.25B |
| Other Financing Activities | 30.00M | 1.06B | -31.00M | -465.00M | -1.09B | -353.00M |
| Financing Cash Flow | -15.60B | -8.14B | -6.91B | -8.31B | -10.25B | -6.79B |
| Foreign Exchange Rate Adjustments | 21.00M | 321.00M | -623.00M | -73.00M | -205.00M | -159.00M |
| Net Cash Flow | 767.00M | -478.00M | 1.80B | -133.00M | -200.00M | 2.92B |
| Free Cash Flow | 14.28B | 5.30B | 4.74B | 9.75B | 9.53B | 11.26B |
| Free Cash Flow Margin | 27.97% | 11.05% | 10.07% | 21.30% | 22.17% | 29.12% |
| Free Cash Flow Per Share | 3.31 | 1.23 | 1.10 | 2.25 | 2.19 | 2.59 |
| Levered Free Cash Flow | 4.35B | -1.46B | 14.96B | 4.83B | 7.87B | 8.37B |
| Unlevered Free Cash Flow | 5.30B | -427.50M | 15.99B | 5.78B | 8.43B | 9.36B |
| Cash Interest Paid | 1.72B | 1.72B | 1.67B | 1.42B | 848.00M | 738.00M |
| Cash Income Tax Paid | 2.87B | 2.87B | 3.26B | 2.58B | 2.40B | 2.17B |
| Change in Working Capital | 334.00M | -7.21B | -6.23B | -846.00M | -605.00M | 1.32B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 412.25B | 300.73B | 268.20B | 254.78B | 275.08B | 255.75B |
| Enterprise Value | 438.13B | 335.13B | 298.79B | 282.69B | 304.68B | 284.54B |
| Last Close Price | 95.83 | 68.58 | 59.32 | 54.49 | 57.01 | 51.55 |
| PE Ratio | 28.27 | 22.94 | 25.23 | 23.78 | 28.83 | 26.18 |
| Forward PE | 27.63 | 21.87 | 21.38 | 21.35 | 25.68 | 24.88 |
| PS Ratio | 8.07 | 6.27 | 5.70 | 5.57 | 6.40 | 6.62 |
| PB Ratio | 11.03 | 8.77 | 10.17 | 9.27 | 10.65 | 10.29 |
| P/TBV Ratio | 43.37 | 72.52 | ||||
| P/FCF Ratio | 28.87 | 56.78 | 56.57 | 26.14 | 28.85 | 22.72 |
| P/OCF Ratio | 25.41 | 40.59 | 39.41 | 21.97 | 24.97 | 20.26 |
| PEG Ratio | 3.84 | 3.33 | 3.80 | 3.61 | 4.48 | 2.66 |
| EV/Sales Ratio | 8.58 | 6.99 | 6.35 | 6.18 | 7.08 | 7.36 |
| EV/EBITDA Ratio | 25.12 | 20.84 | 19.44 | 19.67 | 22.40 | 22.08 |
| EV/EBIT Ratio | 26.67 | 22.30 | 20.91 | 21.34 | 24.69 | 24.89 |
| EV/FCF Ratio | 30.68 | 63.28 | 63.02 | 29.00 | 31.96 | 25.27 |
| Debt / Equity Ratio | 1.07 | 1.40 | 1.77 | 1.62 | 1.64 | 1.78 |
| Debt / EBITDA Ratio | 2.38 | 2.91 | 2.97 | 3.02 | 3.02 | 3.35 |
| Debt / FCF Ratio | 2.97 | 9.05 | 9.84 | 4.57 | 4.43 | 3.93 |
| Net Debt / Equity Ratio | 0.66 | 0.94 | 1.22 | 1.12 | 1.19 | 1.27 |
| Net Debt / EBITDA Ratio | 1.48 | 2.00 | 2.09 | 2.15 | 2.25 | 2.45 |
| Net Debt / FCF Ratio | 1.81 | 6.06 | 6.77 | 3.17 | 3.21 | 2.81 |
| Asset Turnover | 0.48 | 0.47 | 0.47 | 0.48 | 0.46 | 0.43 |
| Inventory Turnover | 4.18 | 4.02 | 4.00 | 4.28 | 4.71 | 4.60 |
| Quick Ratio | 0.83 | 0.89 | 0.72 | 0.72 | 0.77 | 0.81 |
| Current Ratio | 1.38 | 1.46 | 1.03 | 1.13 | 1.15 | 1.13 |
| Return on Equity (ROE) | 40.59% | 43.32% | 39.55% | 40.16% | 37.77% | 42.49% |
| Return on Assets (ROA) | 9.59% | 9.15% | 9.01% | 8.69% | 8.24% | 7.87% |
| Return on Invested Capital (ROIC) | 20.62% | 19.77% | 19.91% | 19.06% | 17.90% | 16.21% |
| Return on Capital Employed (ROCE) | 19.60% | 18.00% | 19.00% | 17.90% | 16.90% | 15.40% |
| Earnings Yield | 3.54% | 4.36% | 3.96% | 4.21% | 3.47% | 3.82% |
| FCF Yield | 3.46% | 1.76% | 1.77% | 3.83% | 3.47% | 4.40% |
| Dividend Yield | 2.21% | 2.92% | 3.11% | 3.11% | 2.77% | 2.84% |
| Payout Ratio | 62.54% | 66.98% | 78.63% | 74.22% | 79.82% | 74.22% |
| Buyback Yield / Dilution | 0.06% | 0.16% | 0.44% | 0.25% | -0.23% | -0.39% |
| Total Shareholder Return | 2.27% | 3.08% | 3.55% | 3.36% | 2.54% | 2.45% |