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Stocks · Consumer staples · Beverages

Coca-Cola Company (The)

KO Clue Score62
United States Fiscal year ends December CIK 0000021344
$88.05 +0.32% Close, 9 Oct 2026
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Price $88.05 +62.36% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue41.86Operating income8.66Net income6.53EPS, diluted1.49Fiscal year 2017Revenue36.21 −13.5%Operating income7.76Net income1.25 −80.9%EPS, diluted0.29 −80.5%Fiscal year 2018Revenue34.30 −5.3%Operating income9.15Net income6.43 +415.5%EPS, diluted1.50 +417.2%Fiscal year 2019Revenue37.27 +8.6%Operating income10.09Net income8.92 +38.6%EPS, diluted2.07 +38.0%Fiscal year 2020Revenue33.01 −11.4%Operating income9.00Net income7.75 −13.2%EPS, diluted1.79 −13.5%Fiscal year 2021Revenue38.66 +17.1%Operating income10.31Net income9.77 +26.1%EPS, diluted2.25 +25.7%Fiscal year 2022Revenue43.00 +11.3%Operating income10.91Net income9.54 −2.3%EPS, diluted2.19 −2.7%Fiscal year 2023Revenue45.75 +6.4%Operating income11.31Net income10.71 +12.3%EPS, diluted2.47 +12.8%Fiscal year 2024Revenue47.06 +2.9%Operating income9.99Net income10.63 −0.8%EPS, diluted2.46 −0.4%Fiscal year 2025Revenue47.94 +1.9%Operating income13.76Net income13.11 +23.3%EPS, diluted3.04 +23.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 41.86 36.21 34.30 37.27 33.01 38.66 43.00 45.75 47.06 47.94
Growth −13.5% −5.3% +8.6% −11.4% +17.1% +11.3% +6.4% +2.9% +1.9%
Operating income 8.66 7.76 9.15 10.09 9.00 10.31 10.91 11.31 9.99 13.76
Net income 6.53 1.25 6.43 8.92 7.75 9.77 9.54 10.71 10.63 13.11
Growth −80.9% +415.5% +38.6% −13.2% +26.1% −2.3% +12.3% −0.8% +23.3%
EPS, diluted 1.49 0.29 1.50 2.07 1.79 2.25 2.19 2.47 2.46 3.04
Growth −80.5% +417.2% +38.0% −13.5% +25.7% −2.7% +12.8% −0.4% +23.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin60.7%Operating margin20.7%Net margin15.6%Free cash flow margin15.6%Fiscal year 2017Gross margin62.1%Operating margin21.4%Net margin3.4%Free cash flow margin14.6%Fiscal year 2018Gross margin61.9%Operating margin26.7%Net margin18.8%Free cash flow margin17.7%Fiscal year 2019Gross margin60.8%Operating margin27.1%Net margin23.9%Free cash flow margin22.6%Fiscal year 2020Gross margin59.3%Operating margin27.3%Net margin23.5%Free cash flow margin26.3%Fiscal year 2021Gross margin60.3%Operating margin26.7%Net margin25.3%Free cash flow margin29.1%Fiscal year 2022Gross margin58.1%Operating margin25.4%Net margin22.2%Free cash flow margin22.2%Fiscal year 2023Gross margin59.5%Operating margin24.7%Net margin23.4%Free cash flow margin21.3%Fiscal year 2024Gross margin61.1%Operating margin21.2%Net margin22.6%Free cash flow margin10.1%Fiscal year 2025Gross margin61.6%Operating margin28.7%Net margin27.3%Free cash flow margin11.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 60.7% 62.1% 61.9% 60.8% 59.3% 60.3% 58.1% 59.5% 61.1% 61.6%
Operating margin 20.7% 21.4% 26.7% 27.1% 27.3% 26.7% 25.4% 24.7% 21.2% 28.7%
Net margin 15.6% 3.4% 18.8% 23.9% 23.5% 25.3% 22.2% 23.4% 22.6% 27.3%
Free cash flow margin 15.6% 14.6% 17.7% 22.6% 26.3% 29.1% 22.2% 21.3% 10.1% 11.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow8.79Capital expenditure−2.26Free cash flow6.53Buybacks−3.68Dividends paid−6.04Fiscal year 2017Operating cash flow7.04Capital expenditure−1.75Free cash flow5.29 −19.0%Buybacks−3.68Dividends paid−6.32Fiscal year 2018Operating cash flow7.63Capital expenditure−1.55Free cash flow6.08 +14.9%Buybacks−1.91Dividends paid−6.64Fiscal year 2019Operating cash flow10.47Capital expenditure−2.05Free cash flow8.42 +38.5%Buybacks−1.10Dividends paid−6.85Fiscal year 2020Operating cash flow9.84Capital expenditure−1.18Free cash flow8.67 +3.0%Buybacks−0.12Dividends paid−7.05Fiscal year 2021Operating cash flow12.63Capital expenditure−1.37Free cash flow11.26 +29.9%Buybacks−0.11Dividends paid−7.25Fiscal year 2022Operating cash flow11.02Capital expenditure−1.48Free cash flow9.53 −15.3%Buybacks−1.42Dividends paid−7.62Fiscal year 2023Operating cash flow11.60Capital expenditure−1.85Free cash flow9.75 +2.2%Buybacks−2.29Dividends paid−7.95Fiscal year 2024Operating cash flow6.81Capital expenditure−2.06Free cash flow4.74 −51.4%Buybacks−1.80Dividends paid−8.36Fiscal year 2025Operating cash flow7.41Capital expenditure−2.11Free cash flow5.30 +11.7%Buybacks−0.75Dividends paid−8.78
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 8.79 7.04 7.63 10.47 9.84 12.63 11.02 11.60 6.81 7.41
Capital expenditure −2.26 −1.75 −1.55 −2.05 −1.18 −1.37 −1.48 −1.85 −2.06 −2.11
Free cash flow 6.53 5.29 6.08 8.42 8.67 11.26 9.53 9.75 4.74 5.30
Growth −19.0% +14.9% +38.5% +3.0% +29.9% −15.3% +2.2% −51.4% +11.7%
Buybacks −3.68 −3.68 −1.91 −1.10 −0.12 −0.11 −1.42 −2.29 −1.80 −0.75
Dividends paid −6.04 −6.32 −6.64 −6.85 −7.05 −7.25 −7.62 −7.95 −8.36 −8.78

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash8.56Total debt33.21Net cash (debt)−24.66Shareholders’ equity23.06Debt to equity1.44Fiscal year 2017Cash6.10Total debt34.48Net cash (debt)−28.38Shareholders’ equity17.07Debt to equity2.02Fiscal year 2018Cash9.08Total debt30.38Net cash (debt)−21.30Shareholders’ equity16.98Debt to equity1.79Fiscal year 2019Cash6.48Total debt31.77Net cash (debt)−25.29Shareholders’ equity18.98Debt to equity1.67Fiscal year 2020Cash6.80Total debt40.61Net cash (debt)−33.82Shareholders’ equity19.30Debt to equity2.10Fiscal year 2021Cash9.68Total debt39.45Net cash (debt)−29.77Shareholders’ equity23.00Debt to equity1.72Fiscal year 2022Cash9.52Total debt36.78Net cash (debt)−27.26Shareholders’ equity24.11Debt to equity1.53Fiscal year 2023Cash9.37Total debt37.51Net cash (debt)−28.14Shareholders’ equity25.94Debt to equity1.45Fiscal year 2024Cash10.83Shareholders’ equity24.86Fiscal year 2025Cash10.27Shareholders’ equity32.17
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 8.56 6.10 9.08 6.48 6.80 9.68 9.52 9.37 10.83 10.27
Total debt 33.21 34.48 30.38 31.77 40.61 39.45 36.78 37.51 n/a n/a
Net cash (debt) −24.66 −28.38 −21.30 −25.29 −33.82 −29.77 −27.26 −28.14 n/a n/a
Shareholders’ equity 23.06 17.07 16.98 18.98 19.30 23.00 24.11 25.94 24.86 32.17
Debt to equity 1.44 2.02 1.79 1.67 2.10 1.72 1.53 1.45 n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
60.7% 62.1% 61.9% 60.8% 59.3% 60.3% 58.1% 59.5% 61.1% 61.6%
20.7% 21.4% 26.7% 27.1% 27.3% 26.7% 25.4% 24.7% 21.2% 28.7%
19.4% 19.0% 24.0% 28.9% 29.5% 32.1% 27.2% 28.3% 27.8% 33.4%
15.6% 3.4% 18.8% 23.9% 23.5% 25.3% 22.2% 23.4% 22.6% 27.3%
15.6% 14.6% 17.7% 22.6% 26.3% 29.1% 22.2% 21.3% 10.1% 11.0%
Spending
36.7% 35.4% 32.1% 32.5% 29.5% 31.4% 30.0% 30.5% 31.0% 30.3%
5.4% 4.8% 4.5% 5.5% 3.6% 3.5% 3.5% 4.0% 4.4% 4.4%
19.5% 81.4% 21.3% 16.7% 20.3% 21.1% 18.1% 17.4% 18.6% 17.9%
Returns
28.3% 7.3% 37.9% 47.0% 40.1% 42.5% 39.6% 41.3% 42.8% 40.7%
7.5% 1.4% 7.7% 10.3% 8.9% 10.4% 10.3% 11.0% 10.6% 12.5%
Balance and payout
1.44 2.02 1.79 1.67 2.10 1.72 1.53 1.45 n/a n/a
92.6% 506.4% 103.3% 76.7% 91.0% 74.2% 79.8% 74.2% 78.6% 67.0%
148.9% 189.0% 140.7% 94.4% 82.7% 65.4% 94.8% 105.1% 214.2% 179.9%