— Know what they know.
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Not Investment Advice

KO

NYSE · USD
The Coca-Cola Company
Consumer Defensive · Beverages - Non-Alcoholic
CEO Henrique Gnani Braun Employees 65,900 R&D / revenue 0.0%
Last price
$93.90+2.07%last session
Market cap
$404.0B
P/E (TTM)
28.2x
From 52w high
−0.2%
From 52w low
+39.6%
1-year return
+39.8%
RSI 14 · vs SMA200
75.2 · +16.1%
IS score
72.0/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

KO   SPY   XLP (sector ETF) · weekly closes
100110120130140Jan 26Apr 26Jul 26Oct 26KO 140SPY 116XLP 111

Score DNA

Each bar is a 0-100 score within the scored universe
92
Profitability
60
Growth
41
Value
81
Momentum
100
Risk (safety)
87
Quality
67
Balance sheet
86
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
None of the computed warning flags fires for KO (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Efficient ScalePiotroski 9 / 9Altman Z 5.3Beta 0.343 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
21 open-market sales, $158.8M
Form 144 notices (12m): 33, $277.8M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
6
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+72
226 new holders, 106 closed
3,656 filers hold 77.2% · 1,586 added, 1,373 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+448
1,841 funds adding shares
1,393 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
53.4%
20-day avg 53.9%, 50-day avg 45.4%
Latest 0.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$47.9B
Revenue growth YoY+1.9%
Gross margin61.6%
Operating income$13.8B
Operating margin28.7%
Net income$13.1B
Net margin27.3%
EPS (diluted)$3.04
Cash flow
Operating cash flow$7.4B
Capital expenditure$2.1B
Free cash flow$5.3B
FCF conversion (FCF / OCF)71.5%
Stock-based compensation$279.0M
FCF less SBC$5.0B
Buybacks$746.0M
Dividends$8.8B
Balance sheet & returns
Cash & short-term investments$13.9B
Total debt$45.5B
Net debt$31.6B
Shareholders' equity$34.3B
Goodwill & intangibles$28.0B
Debt / equity1.20
ROE (TTM)43.0%
ROIC (TTM)13.9%
Operating margin by fiscal year
26.7%FY202125.4%FY202224.7%FY202321.2%FY202428.7%FY2025
Revenue $38.7B (FY2021) to $47.9B (FY2025), a 5.5% CAGR.

Valuation

P/E (TTM)28.2x
EV / EBITDA21.9x
Price / sales8.06x
Price / FCF28.3x
FCF yield3.54%
Buyback yield0.18%
SBC / revenue0.5%
Price / book11.17x
Forward P/E FY202628.4x
Forward P/E FY202726.6x
Forward P/E FY202824.8x
Forward multiples divide today's price by Street EPS estimates. Street mean target $96.15 across 13 analysts last quarter is theirs, not ours.

KO vs industry median

78 companies in Beverages - Non-Alcoholic
Gross margin 61.9% 37.9% Operating margin 29.6% 8.0% Net margin 28.6% 4.5% ROIC 13.9% 10.8%
KO (TTM)Industry median Asset turnover 0.46 vs industry 0.77 · financial leverage 2.99

Earnings delivery

Next report 2026-10-27 · consensus EPS $0.88
92%
beat rate, 11 of 12 quarters
+4.3%
median EPS surprise
10
longest beat streak
+7+0+3+4+4+6+2+4+5+3+6+5
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-24 to 2026-07-28. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
KO The Coca-Cola Company $404.0B28.2x43.0%28.6%+1.9% +39.8%
PEP PepsiCo, Inc. $179.2B16.5x52.3%12.1%+6.4% −13.0%
MNST Monster Beverage Corporation $89.6B42.0x25.7%23.0%+20.4% +30.4%
KDP Keurig Dr Pepper Inc. $47.1B34.8x5.7%1.9%+27.5% +24.9%
FMX Fomento Económico Mexicano, $43.1B23.0x31.1%2.4%−70.9% +32.6%
COST Costco Wholesale Corporation $438.3B47.6x28.4%3.1%+10.1% —
PG The Procter & Gamble Company $370.0B23.6x30.2%14.1%+3.3% —
PM Philip Morris International $319.8B29.5x-105.8%25.2%+9.1% —
12-month window: SPY +15.9%, sector ETF XLP +11.4%. Past returns describe history only.

Recent 8-K filings

2026-07-28Earnings Release; Exhibits
2026-07-16Other Events
2026-06-25Officer/Director Change; Exhibits
2026-05-01Shareholder Vote
2026-04-28Earnings Release; Exhibits
2026-02-20Departure/Election of Directors; Appointment of Officers; Financial Statements and Exhibits

Context

Shares outstanding4,302,549,243
Free float90.0%
Institutional ownership77.2%
Beta0.34
Dividend yield2.24%
Last dividend$0.53 on 2026-09-15
50 / 200-day average$88.30 / $80.84
Mega-cap Consumer Defensive median P/E31.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where KO sits among 10 scored companies in Beverages - Non-Alcoholic (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureKOIndustry medianIndustry percentileSector median
P/E (TTM) 28.2x 30.4x
33rd		 20.0x
PEG (P/E ÷ 3-yr EPS CAGR) 2.54 1.71
75th		 1.14
Price / sales 8.1x 2.3x
89th		 1.1x
Price / book 11.2x 8.0x
100th		 2.5x
Price / tangible book 44.3x 11.1x
100th		 4.0x
Price / free cash flow 28.3x 22.1x
89th		 14.7x
Price / operating cash flow 24.7x 17.5x
78th		 9.4x
Enterprise value $431.2B $15.7B
100th		 $5.1B
EV / sales 8.6x 2.7x
88th		 1.3x
EV / EBITDA 21.7x 19.9x
75th		 12.3x
EV / EBIT 22.9x 21.8x
62nd		 16.5x
EV / free cash flow 30.2x 29.4x
62nd		 18.2x
Earnings yield 3.5% 3.3%
67th		 3.9%
FCF yield 3.5% 4.6%
11th		 6.5%
Operating cash flow yield 4.0% 5.7%
22nd		 10.4%
Graham number (per share) $25.02 $16.45
75th		 $35.68

Profitability (TTM)

MeasureKOIndustry medianIndustry percentileSector median
Gross margin 61.9% 44.9%
100th		 34.4%
EBITDA margin 39.6% 19.8%
100th		 10.7%
Operating margin 29.6% 16.1%
100th		 7.6%
EBIT margin 37.5% 15.1%
100th		 6.9%
Net margin 28.6% 9.1%
100th		 3.3%
NOPAT margin 24.8% 12.5%
100th		 4.8%
FCF margin 28.5% 12.2%
100th		 7.6%
Operating cash flow margin 32.6% 15.3%
100th		 11.1%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 30.0% 27.9%
56th		 21.1%
Stock comp / revenue 0.5% 0.5%
56th		 0.5%
Effective tax rate 16.4% 23.5%
11th		 23.2%

Returns on capital

MeasureKOIndustry medianIndustry percentileSector median
ROE (on average equity) 44.2% 31.2%
78th		 10.4%
ROA 13.5% 10.5%
67th		 4.9%
ROIC 19.6% 19.3%
56th		 8.2%
ROCE 22.7% 25.4%
44th		 9.1%
Return on tangible assets 17.7% 17.8%
44th		 7.2%
Cash ROIC (OCF / invested capital) 25.8% 25.8%
50th		 15.0%
Gross profitability (GP / assets) 28.7% 46.3%
22nd		 32.4%
ROIC, 3-yr average 17.8% 18.7%
33rd		 6.4%
ROIC, 5-yr average 20.0% 18.7%
57th		 7.8%
ROE, 5-yr average 41.1% 31.5%
57th		 11.4%
Incremental ROIC 134.3% 27.1%
78th		 12.8%

Growth

MeasureKOIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 6.5% 15.5%
33rd		 3.8%
Revenue growth (QoQ) 7.3% 10.8%
22nd		 4.3%
Revenue CAGR, 3 yr 4.3% 5.7%
38th		 3.8%
Revenue CAGR, 5 yr 6.6% 7.1%
43rd		 5.1%
Gross profit CAGR, 3 yr 6.3% 6.3%
50th		 4.0%
Operating income CAGR, 3 yr 10.8% 9.2%
57th		 4.3%
Net income growth (TTM YoY) 17.5% -5.9%
62nd		 5.6%
Net income CAGR, 3 yr 10.9% 7.2%
71st		 5.4%
EPS growth (TTM YoY) 17.5% -5.8%
62nd		 4.7%
EPS CAGR, 3 yr 11.1% 6.9%
71st		 6.8%
EPS CAGR, 5 yr 12.3% 6.4%
67th		 4.1%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr 14.6% 14.7%
38th		 14.6%
Operating cash flow CAGR, 3 yr 13.8% 10.9%
62nd		 6.4%
Book value CAGR, 3 yr 11.8% 3.5%
71st		 5.3%
Dividend CAGR, 3 yr 9.6% 6.3%
60th		 1.7%
Sustainable growth rate 10.1% 6.2%
56th		 8.3%

Margin history & stability

MeasureKOIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 61.3% 49.9%
100th		 34.7%
Operating margin, 3-yr average 26.6% 15.7%
88th		 6.7%
Net margin, 3-yr average 25.8% 10.4%
100th		 4.2%
FCF margin, 3-yr average 15.5% 13.7%
88th		 6.5%
Revenue stability (0-1) 0.95 0.90
75th		 0.81
Earnings stability (0-1) 0.94 0.24
88th		 0.34
Margin stability (0-1) 0.98 0.96
88th		 0.95

Liquidity (latest quarter)

MeasureKOIndustry medianIndustry percentileSector median
Cash & short-term investments $16.4B $1.1B
89th		 $279.3M
Net cash (− = net debt) −$27.2B −$1.2B
22nd		 −$1.0B
Working capital $7.7B $321.0M
100th		 $285.9M
Current ratio 1.30 1.26
56th		 1.43
Quick ratio 1.12 1.12
50th		 0.86
Cash ratio (cash + ST investments / current liabilities) 0.65 0.63
56th		 0.28
Defensive interval (days) 454 days 386 days
67th		 251 days

Leverage & solvency (latest quarter)

MeasureKOIndustry medianIndustry percentileSector median
Total debt $43.5B $4.2B
89th		 $1.8B
Debt / equity 1.20 1.17
62nd		 0.75
Net debt / equity 0.75 0.01
62nd		 0.55
Debt / assets 40.3% 35.4%
67th		 31.6%
Debt / capital 54.6% 53.9%
62nd		 43.0%
Debt / EBITDA 2.20 2.29
44th		 2.69
Net debt / EBITDA 1.37 0.76
56th		 2.14
Interest coverage (EBIT / interest) 12.0x 6.6x
71st		 4.7x
Cash interest coverage 10.4x 9.8x
71st		 8.2x
Debt payback (years of OCF) 2.7 yrs 2.0 yrs
56th		 2.8 yrs
Liabilities / assets 64.5% 63.5%
56th		 56.2%
IS credit model rating A+ — —
Implied credit spread (bps) 125 138
44th		 225

Efficiency

MeasureKOIndustry medianIndustry percentileSector median
Asset turnover 0.47 0.91
11th		 0.94
Fixed asset turnover 5.20 4.71
67th		 4.44
Inventory turnover 3.9 5.2
11th		 6.0
Receivables turnover 12.7 10.3
100th		 12.1
Days sales outstanding 29 days 36 days
0th		 30 days
Days inventory outstanding 93 days 70 days
89th		 61 days
Days payables outstanding 310 days 47 days
100th		 38 days
Cash conversion cycle (days) −188 days 36 days
0th		 37 days
Capex / revenue 4.1% 3.3%
67th		 3.1%
Capex / depreciation 1.98 1.12
89th		 0.92
Operating expense ratio 28.0% 27.4%
56th		 24.8%

Cash flow & earnings quality

MeasureKOIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.14 1.53
22nd		 1.87
FCF / net income 1.00 1.15
33rd		 1.28
FCF / operating cash flow 87.5% 82.3%
67th		 71.9%
Capex / operating cash flow 12.5% 17.7%
33rd		 29.5%
Accruals ratio -1.9% -3.9%
67th		 -6.1%
Sloan accruals ratio 1.9% -4.6%
78th		 -3.9%
Earnings quality score (0-1) 1.00 1.00
44th		 0.75

Dividends & buybacks

MeasureKOIndustry medianIndustry percentileSector median
Dividend yield 2.2% 2.3%
44th		 1.8%
Dividend per share (TTM) $2.10 $0.96
67th		 $0.64
Payout ratio (dividends / net income) 77.2% 74.7%
56th		 32.1%
Dividends / FCF 77.3% 54.4%
78th		 27.4%
Dividend growth (YoY) 30.8% 6.0%
67th		 1.8%
Buyback yield 0.2% 0.6%
22nd		 0.9%
Shareholder yield (dividends + buybacks) 3.0% 4.0%
33rd		 3.6%
Share count change (YoY) -0.0% 0.1%
44th		 -0.2%
Buybacks, last 5 years $5.1B $1.2B
89th		 $184.1M

Scores & forensic checks

MeasureKOIndustry medianIndustry percentileSector median
IS score 72 62
78th		 53
IS profitability 92 61
89th		 32
IS growth 60 57
56th		 50
IS value 41 44
44th		 49
IS momentum 81 81
56th		 73
IS risk (safety) 100 95
56th		 80
IS quality 87 70
78th		 65
IS balance sheet 67 64
56th		 53
IS earnings quality 86 76
100th		 76
IS cash flow 68 65
67th		 57
Piotroski F-score (0-9) 9 6
89th		 6
Altman Z-score 5.3 4.6
56th		 3.2
Beneish M-score −2.67 −2.55
25th		 −2.71
Ohlson O-score −8.60 −8.53
44th		 −7.61
IS credit score 78 74
56th		 64

Per share

MeasureKOIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $3.32 $1.84
67th		 $2.03
Book value per share $8.38 $8.27
56th		 $16.28
Tangible book per share $2.41 $2.50
44th		 $3.52
Revenue per share $11.62 $13.66
11th		 $41.08
FCF per share $3.31 $1.93
67th		 $3.18
Operating cash flow per share $3.79 $2.22
67th		 $4.93
Cash per share $3.80 $2.52
67th		 $2.81

Size (TTM)

MeasureKOIndustry medianIndustry percentileSector median
Market cap $404.0B $29.8B
100th		 $4.0B
Revenue $50.1B $8.5B
78th		 $5.2B
EBITDA $19.8B $2.0B
89th		 $426.9M
Net income $14.3B $988.5M
100th		 $167.0M
Free cash flow $14.3B $1.3B
100th		 $345.6M
Total assets $107.9B $11.0B
89th		 $4.8B
Shareholders' equity $36.1B $6.2B
100th		 $1.6B
Employees 65,900 14,000
78th		 9,700

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Option exercise 41,365$61.34$2.5M41,365
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Open-market sale 29,246$90.93$2.7M0
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Option exercise 40,754$60.02$2.4M40,754
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Option exercise 29,246$60.27$1.8M29,246
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Option exercise 41,365$61.34$2.5M0
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Option exercise 40,754$60.02$2.4M13,585
2026-08-20Pietracci Bruno
other: President, Latin America OU
 Option exercise 29,246$60.27$1.8M29,246
2026-08-19Quan Nancy
Executive Vice President
 Option exercise 50,000$50.44$2.5M273,330
2026-08-19Quan Nancy
Executive Vice President
 Open-market sale 50,000$90.39$4.5M223,330
2026-08-19Quan Nancy
Executive Vice President
 Option exercise 50,000$50.44$2.5M20,585
2026-08-10Ray Sanket
other: President INSWA
 Open-market sale 9,958$86.50$861,36762,105
2026-08-06Ortega Luisa
other: Europe OU President
 Open-market sale 19,772$86.67$1.7M26,209

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAug

By transaction type, 6 months

TypeDirectionFilingsSharesValue
GiftAcquired144,678—
GiftDisposed144,678—
Open-market saleDisposed211,881,331$158.8M
Option exerciseAcquired211,706,727$82.1M
Option exerciseDisposed211,706,727$82.1M
—Disposed968,963$4.0M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 33 notices · 3,441,011 shares · $277.8M
FiledFilerShares proposedEst. proceeds
2026-09-28Jennifer Mann184,117$16.2M
2026-08-20Bruno Pietracci111,365$10.1M
2026-08-19Nancy Quan50,000$4.5M
2026-08-10Sanket Ray9,958$861,367
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 25 trades (19 purchases) · Senate 6 (4 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-08-31Kevin HernHousePurchase$1,001 - $15,0002026-09-28
2026-08-31Kevin HernHousePurchase$1,001 - $15,0002026-09-25
2026-08-31Kevin HernHousePurchase$1,001 - $15,0002026-09-25
2026-07-21Shelley Moore CapitoSenateSale$1,001 - $15,0002026-08-04
2026-07-21Shelley Moore CapitoSenateSale$1,001 - $15,0002026-08-04
2025-12-29Markwayne MullinSenatePurchase$15,001 - $50,0002026-01-16
2025-12-29Markwayne MullinSenatePurchase$15,001 - $50,0002026-01-15
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.322,740,471$26.2B7.50%
VANGUARD CAPITAL MANAGEMENT LLC238,798,011$19.4B5.55%
STATE STREET CORP167,399,379$13.7B3.89%
FMR LLC109,159,806$8.9B2.54%
GEODE CAPITAL MANAGEMENT, LLC105,977,991$8.6B2.46%
VANGUARD PORTFOLIO MANAGEMENT LLC99,612,603$8.1B2.32%
NORGES BANK52,025,304$4.2B1.21%
BANK OF AMERICA CORP /DE/45,958,636$3.7B1.07%
JPMORGAN CHASE & CO45,730,800$3.8B1.06%
FRANKLIN RESOURCES INC43,225,662$3.5B1.00%
GOLDMAN SACHS GROUP INC38,331,111$3.1B0.89%
Bank of New York Mellon Corp33,545,555$2.7B0.78%
PRICE T ROWE ASSOCIATES INC /MD/30,513,317$2.5B0.71%
NORTHERN TRUST CORP30,198,052$2.5B0.70%
WELLINGTON MANAGEMENT GROUP LLP29,053,752$2.4B0.68%

Institutional ownership by quarter

2023-092026-0677.2%
% of shares held by 13F filers
2023-092026-063,656
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-303,65677.2%2261,5861,373106
2026-03-313,58473.9%2641,3691,440106
2025-12-313,48674.0%3901,4421,309113
2025-09-303,28872.1%1531,3811,347180
2025-06-303,37273.4%1771,4131,377134
2025-03-313,37773.1%2621,2631,402114
2024-12-313,28772.3%3901,3211,240193
2024-09-303,14472.3%2351,2451,289100
2024-06-303,04571.7%1991,2291,285101
2024-03-312,99270.8%1751,2061,199143
2023-12-313,00370.4%3321,1541,237119
2023-09-302,84170.3%1411,2251,124153

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management6.4%276,838,699
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.45%$10.6B
VSMPX0.45%$10.6B
VTSAX0.45%$10.6B
VTI0.45%$10.6B
VFINX0.51%$8.8B
VFFSX0.51%$8.8B

Share structure

Shares outstanding4,302,549,243
Float3,874,015,338
Free float90.0%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$38.7B$43.0B$45.8B$47.1B$47.9B
Cost of revenue$15.4B$18.0B$18.5B$18.3B$18.4B
Gross profit$23.3B$25.0B$27.2B$28.7B$29.5B
R&D$0$0$0$0$0
SG&A$11.9B$12.7B$14.0B$14.4B$14.5B
Operating income$10.3B$10.9B$11.3B$10.0B$13.8B
EBITDA$15.5B$13.8B$15.6B$15.8B$18.7B
Pretax income$12.4B$11.7B$13.0B$13.1B$16.0B
Income tax$2.6B$2.1B$2.2B$2.4B$2.9B
Net income$9.8B$9.5B$10.7B$10.6B$13.1B
EPS, diluted$2.25$2.19$2.47$2.46$3.04
Diluted shares4.3B4.3B4.3B4.3B4.3B

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$12.6B$11.6B$13.7B$14.6B$13.9B
Receivables$3.5B$3.5B$3.4B$3.6B$3.0B
Inventory$3.4B$4.2B$4.4B$4.7B$4.4B
Total current assets$22.5B$22.6B$26.7B$26.0B$31.0B
PP&E, net$9.9B$9.8B$9.2B$11.5B$9.6B
Goodwill & intangibles$34.6B$33.6B$33.2B$31.4B$28.0B
Total assets$94.4B$92.8B$97.7B$100.5B$104.8B
Accounts payable$4.6B$5.3B$5.6B$5.5B$14.8B
Total current liabilities$19.9B$19.7B$23.6B$25.2B$21.3B
Long-term debt$38.1B$36.4B$35.5B$42.4B$42.1B
Total liabilities$69.5B$66.9B$70.2B$74.2B$70.5B
Shareholders' equity$24.9B$25.8B$27.5B$26.4B$34.3B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$9.8B$9.6B$10.7B$10.6B$13.1B
Depreciation & amortization$1.5B$1.3B$1.1B$1.1B$1.1B
Stock-based compensation$337.0M$356.0M$254.0M$286.0M$279.0M
Change in working capital$1.3B−$605.0M−$846.0M−$6.2B−$7.2B
Operating cash flow$12.6B$11.0B$11.6B$6.8B$7.4B
Capital expenditure−$1.4B−$1.5B−$1.9B−$2.1B−$2.1B
Free cash flow$11.3B$9.5B$9.7B$4.7B$5.3B
Investing cash flow−$2.8B−$763.0M−$3.3B$2.5B−$67.0M
Net debt issued / repaid$228.0M−$958.0M$1.9B$2.5B$13.0M
Buybacks−$111.0M−$1.4B−$2.3B−$1.8B−$746.0M
Dividends paid−$7.3B−$7.6B−$8.0B−$8.4B−$8.8B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin60.3%58.1%59.5%61.1%61.6%
Operating margin26.7%25.4%24.7%21.2%28.7%
Net margin25.3%22.2%23.4%22.6%27.3%
FCF margin29.1%22.2%21.3%10.1%11.0%
ROE46.2%40.5%42.8%41.9%46.0%
ROIC14.9%16.8%16.8%14.5%17.7%
ROA10.8%10.2%11.3%10.7%12.8%
Debt / equity1.921.681.671.841.41
Interest coverage8.8x14.2x9.5x8.9x10.7x
Current ratio1.131.151.131.031.46
Revenue growth+17.1%+11.3%+6.4%+2.9%+1.9%
EPS growth+25.6%−2.3%+12.7%−0.5%+23.5%
P/E at year end23.4x26.5x22.5x24.6x23.0x
EV / EBITDA at year end16.8x20.4x17.3x18.5x17.8x
FCF yield at year end4.93%3.77%4.05%1.81%1.76%
Dividend payout74.2%79.8%74.2%78.6%67.0%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Pacific$29.8B$33.6B$36.1B$38.8B$31.6B
Concentrate operations————$28.5B
Finished product operations————$19.5B
Bottling investments$7.2B$7.9B$7.9B$6.2B$5.7B
Global Ventures$2.8B$2.8B$3.1B$3.1B—
Corporate Segment$85.0M$94.0M$126.0M$97.0M—
Intersegment Eliminations−$1.3B−$1.4B−$1.4B−$1.2B—

Revenue by region · FY2025

North America$19.6B · 62%
Latin America$6.3B · 20%
Pacific$5.6B · 18%

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $0.88 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$49.8B$49.4B – $51.1B$3.31$3.26 – $3.341328.4x
2027$49.8B$48.5B – $53.7B$3.53$3.43 – $3.601426.6x
2028$52.2B$51.1B – $53.5B$3.79$3.48 – $4.00724.8x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-28$0.92$0.97+5.4%$13.2B$13.4B+1.5%
2026-04-28$0.81$0.86+5.9%$12.2B$12.5B+1.9%
2026-02-10$0.56$0.58+2.7%$12.0B$11.8B−2.1%
2025-10-21$0.78$0.82+5.3%$12.4B$12.5B+0.4%
2025-07-22$0.83$0.87+4.3%$12.6B$12.5B−0.3%
2025-04-29$0.71$0.73+2.2%$11.2B$11.1B−0.3%
2025-02-11$0.52$0.55+6.2%$10.7B$11.5B+8.1%
2024-10-23$0.74$0.77+4.1%$11.6B$11.9B+2.1%
2024-07-23$0.81$0.84+4.2%$11.8B$12.4B+5.0%
2024-04-30$0.70$0.72+2.9%$11.0B$11.3B+2.7%
2024-02-13$0.49$0.490.0%$10.7B$10.8B+1.6%
2023-10-24$0.69$0.74+7.2%$10.8B$12.0B+10.8%
2023-07-26$0.72$0.78+8.3%$10.6B$12.0B+12.7%
2023-04-24$0.65$0.68+4.6%$10.8B$11.0B+1.6%
2023-02-14$0.45$0.450.0%$10.0B$10.1B+1.2%
2022-10-25$0.64$0.69+7.8%$10.5B$11.1B+5.2%
2022-07-26$0.67$0.70+4.5%$10.6B$11.4B+7.5%
2022-04-25$0.58$0.64+10.3%$9.8B$10.5B+6.7%
2022-02-10$0.41$0.45+9.8%$9.0B$9.5B+5.3%
2021-10-27$0.58$0.65+12.1%$9.8B$10.0B+2.4%
2021-07-21$0.56$0.68+21.4%$9.8B$10.1B+3.5%
2021-04-19$0.50$0.55+10.0%$8.6B$9.0B+5.3%
2021-02-10$0.41$0.47+14.6%$8.6B$8.6B−0.3%
2020-10-22$0.45$0.55+22.2%$7.2B$8.7B+19.6%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
1.306-151.306-221.106-291.207-061.307-131.007-201.907-271.108-031.108-101.308-171.208-240.908-31
Week ofNotionalSharesTrades
2026-08-31$938.9M10,597,395183,481
2026-08-24$1.2B13,504,025200,563
2026-08-17$1.3B14,861,687214,941
2026-08-10$1.1B12,447,986176,985
2026-08-03$1.1B13,068,213202,740
2026-07-27$1.9B22,134,781285,346

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1553.4%
DateShort shareShort volumeTotal volume
2026-10-1553.4%3,058,0295,727,112
2026-10-1458.2%3,032,6995,212,683
2026-10-1359.1%2,570,3344,351,117
2026-10-1250.5%2,361,4314,674,707
2026-10-0954.0%1,840,5903,405,544
2026-10-0850.9%2,496,1934,900,559
2026-10-0744.3%2,089,7214,720,742
2026-10-0657.9%2,528,2954,362,897
2026-10-0555.7%2,207,5363,965,873
2026-10-0264.0%3,808,1235,948,908
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.9Jan+0.1Feb+1.9Mar+1.7Apr+0.5May-0.0Jun+1.7Jul-0.2Aug+0.4Sep+1.0Oct+2.8Nov+0.9Dec
MonthAvg returnUp yearsYears
Jan−0.9%35%20
Feb+0.1%55%20
Mar+1.9%76%21
Apr+1.7%75%20
May+0.5%60%20
Jun−0.0%45%20
Jul+1.7%65%20
Aug−0.2%40%20
Sep+0.4%50%20
Oct+1.0%70%20
Nov+2.8%80%20
Dec+0.9%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1475.2
MFI64.9
ADX21.7
Stochastic %K / %D90.6 / 91.9
Williams %R-2.7
CCI216
TSI / signal21.7 / 4.1
Chaikin money flow-0.09
ATR$1.44
Bollinger width10.1%
Volume vs 20-day avg1.14x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$88.17 (+6.5%)
SMA 50$88.33 (+6.3%)
SMA 200$80.89 (+16.1%)
EMA 21$88.92 (+5.6%)
EMA 50$87.73 (+7.0%)
EMA 200$81.65 (+15.0%)
Bollinger upper$92.60 (+1.4%)
Bollinger lower$83.74 (+12.1%)
Parabolic SAR$87.48 (+7.3%)
Open the live chart, 110+ indicators

About The Coca-Cola Company

The Coca-Cola Company, a beverage company, manufactures and sells various nonalcoholic beverages in the United States and internationally. The company provides Trademark Coca-Cola, sparkling soft drinks and flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and emerging beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers comprising restaurants and convenience stores. The company sells its products under the Coca-Cola, Diet Coke/Coca-Cola Light, Coca-Cola Zero Sugar, caffeine free Diet Coke, Cherry Coke, Fanta, Sprite, Simply, Fanta Orange, Fanta Zero Orange, Fanta Zero Sugar, Fanta Apple, Sprite Zero Sugar, Simply Orange, Simply Apple, Simply Grapefruit, Fresca, Schweppes, Thums Up, Aquarius, Ayataka, BODYARMOR, Ciel, Costa, Crystal, Dasani, Fuze Tea, Georgia, glacéau smartwater, glacéau vitaminwater, Gold Peak, I LOHAS, Powerade, Topo Chico, Core Power, Del Valle, fairlife, innocent, Maaza, Minute Maid, Minute Maid Pulpy, Santa Clara, and dogadan brands. It operates through a network of independent bottling partners, distributors, wholesalers, and retailers, as well as through bottling and distribution operators. The Coca-Cola Company was founded in 1886 and is headquartered in Atlanta, Georgia.

https://www.coca-colacompany.com

Key executives

NameTitlePayBorn
James Robert QuinceyExecutive Chairman$7.2M1965
Henrique BraunCEO & Director$4.2M1969
John MurphyPresident & Chief Financial Officer$4.0M1962
Manuel Arroyo PrietoEVP, Chief Marketing & Customer Commercial Officer$2.5M1967
Jennifer K. MannSenior Advisor$2.3M1972
Carlos PagoagaPresident of The Coca-Cola Foundation & VP of Global Community Affairs——
Erin MaySenior Vice President, Chief Accounting Officer & Controller—1980
Jennifer D. ManningSenior VP, Associate General Counsel - Chief Ethics & Compliance Officer and Corporate Secretary——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
James Quincey Chairman of the Board and Chief Executive Officer2025$1.7M$12.5M$5.0M$31.2M
John Murphy President and Chief Financial Officer2025$1.1M$3.8M$2.6M$11.8M
Henrique Braun Executive Vice President and Chief Operating Officer2025$1.1M$3.8M$2.8M$11.6M
Jennifer Mann Executive Vice President and President, North America operating unit2025$857,520$2.9M$1.4M$8.0M
Manuel Arroyo Executive Vice President and Chief Marketing Officer2025$734,992$2.7M$1.4M$6.7M

Employees

63k201886k201980k202079k202182k202279k202370k202466k2025

Dividends

Ex-dateAmountPaid
2026-09-15$0.532026-10-01
2026-06-15$0.532026-07-01
2026-03-13$0.532026-04-01
2025-12-01$0.512025-12-15
2025-09-15$0.512025-10-01
2025-06-13$0.512025-07-01
2025-03-14$0.512025-04-01
2024-11-29$0.4852024-12-16

Moat model

Narrow · Efficient Scale · 2026-07-03
Cost advantage60
Intangibles79
Switching costs52
Network effect55
Efficient scale100
Our component scores (0-100) and overall 68.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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